Paytm Money, a subsidiary of One97 Communications Ltd. (Paytm), has named Rajeev Krishnamuralilal Agarwal as an additional non-executive independent director on its board. In his new role, Agarwal will serve on the Audit Committee and lead both the Risk Management Committee and the Corporate Social Responsibility Committee.
Agarwal brings over 40 years of experience to the table, including 28 years with the Indian Revenue Service. His tenure as a whole-time member of the Securities and Exchange Board of India saw him contribute to significant market reforms, including the revival package for the mutual fund industry in 2012 and the merger of the Forward Markets Commission with SEBI in 2015. He has also been instrumental in driving changes aimed at enhancing transparency through IPO reforms and the offer-for-sale mechanism for disinvesting public sector units, as well as expanding funding avenues for small businesses and startups by bolstering the SME exchange.
Currently, Agarwal holds positions on the board of One97 Communications (Paytm) and serves as chairman and independent director of Trust Mutual Fund. His independent directorship roles extend to ACC Ltd., Star Health Insurance, UGRO Capital Ltd., and MK Ventures Capital Ltd.
Paytm Money believes that Agarwal’s expertise in governance and risk management will reinforce its commitment to investor empowerment and fuel innovation in India’s rapidly evolving wealth-tech space.
“Our mission is to democratize access to financial markets and simplify the investment journey for millions of Indians. Having made significant strides in enhancing our governance framework, we continue to innovate and expand our investment offerings. With Shri Agarwal’s deep expertise in governance and risk management, we are confident that his guidance will further strengthen these efforts and drive long-term, sustainable growth,” said Rakesh Singh, CEO – Paytm Money.
Agarwal now joins a board that includes seasoned members like Narasinganallore Venkatesh Srinivasan and Cyrus Khambata, both of whom have over four decades of experience in banking, capital markets, finance, and risk management.
The platform also offers innovative features such as a ‘Margin Pledge’ facility, which allows traders to leverage their stock holdings, along with the Pay Later (MTF) service. Additionally, Paytm Money has broadened its service portfolio by launching BSE Futures & Options (BSE F&O) trading, enabling transactions in SENSEX and BANKEX Option contracts.
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