Paytm’s Head Of Compliance Srinivas Yanamandra Resigns

SUMMARY

Yanamandra resigned as head of compliance to pursue academic research after serving since April 2022

Prior to Paytm, he held compliance leadership roles at New Development Bank, IDFC FIRST Bank, and ICICI Bank

The exit comes as Paytm's stock hit a 52-week high of INR 1,063, marking a 204% recovery since May 2024

Paytm’s head of compliance Srinivas Yanamandra has resigned from the fintech company to pursue academic research opportunities, according to a filing.

Yanamandra, who joined Paytm in April 2022, will continue in his role till February 28, 2025.

The development comes as part of Paytm’s recent organisational restructuring, where the company established compliance leaders across business entities.

Before joining Paytm, Yanamandra served as Chief of Compliance at New Development Bank in Shanghai from 2017 to 2022. He also held senior compliance roles at IDFC FIRST Bank and ICICI Bank, where he spent over 11 years. A chartered accountant by training, he secured national ranks in both CA and Cost Accountancy examinations.

In his resignation email to Paytm CEO Vijay Shekhar Sharma and other executives, Yanamandra said he took the decision to dedicate more time to academic research pursuits he had been contemplating for several months.

The company said it would continue strengthening its compliance framework by recruiting professionals under existing teams. “The company’s management is dedicated to driving sustainable business growth while maintaining a strong commitment to regulatory and compliance excellence,” the filing read.

The exit comes during a period of recovery for Paytm. The company’s stock touched a fresh 52-week high of INR 1,063 on December 17, 2024, marking a 204.91% recovery since its low of INR 310 in May following RBI’s regulatory measures.

Paytm reported its first profitable quarter in Q2 FY25 with a consolidated profit after tax of INR 930 Cr, compared to a loss of INR 292 Cr in the year-ago period. The turnaround came after the company sold its movie and events ticketing business to Zomato for INR 2,048 Cr.

Recent developments at Paytm include selling its stock acquisition rights in PayPay Corporation to SoftBank’s Vision Fund 2 for INR 2,364 Cr and receiving NPCI approval to onboard new UPI users.