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Shinjini Kumar may head Paytm payments bank

paytm19febCentral banker cum banking consultant Shinjini Kumar is likely to head the payments bank being set up by mobile wallet service provider Paytm. Kumar, who is currently a director at PricewaterhouseCoopers and earlier with the Reserve Bank of India, is expected to take up the position of CEO of the payments bank. A formal announcement in this regard will come sometime in March. The Paytm payments bank is expected to start operations in the second half of this year. An alumnus of the University of Texas, Kumar had held the position of deputy general manager in RBI and had also worked at Bank of America Merrill Lynch. At PwC, she is heading the western India regulatory practice handling regulations in the banking and financial services sector. Paytm has already engaged some senior staff for its bank, including Kshitij Sanghi, who was with McKinsey and who will handle the technology aspects in the bank, Narendra Singh, a former BCG employee, who will be in charge of project management, Varun Khullar, formerly with ITC who will look after partnerships in the bank, and Vikas Purohit, of Amazon, who is in charge of branch and business correspondent network.

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