Paytm ropes in former ITC executive Varun Khullar

Khullar will be part of Paytm's proposed payment bank and will be leading the relationship with its potential partners, including insurance companies, banks and non-banking financial institutions.
Paytm

Online payment turned eCommerce marketplace Paytm has recently appointed former ITC and Boston Scientific Corporation executive Varun Khullar as the Head of Partnership Division at its proposed payment bank. Soon after getting a nod from the Reserve Bank of India, the company has firmly started building its leadership team for this division.
Before joining Paytm, Khullar has also worked with medical devices firm Boston Scientific Corporation for about 3 years and with consulting firm McKinsey & Company for about 4 years. Prior to these, he was working in the capacity of Assistant Manager- Operations with hotels and tobacco form ITC. Khullar is also an alumnus of IIT Madras and Indian School of Business, Hyderabad.
Commenting on the same, Amit Sinha, VP- Business, Paytm said, "Varun will be part of Paytm's proposed payment bank and will be leading the relationship with our potential partners, including insurance companies, banks and non-banking financial institutions.”
Prior to Khullar’s appointment, the Alibaba backed company roped former Amazon Indian executive Vikas Purohit to head the proposed payment bank’s offline expansion segment.
"We're hoping to have most of the major positions covered in the next three to four months," Sinha said.
In August 2015, Paytm, along with 10 other companies received an approval from the Reserve Bank of India to start payment banks in the country, as part of the central bank's efforts to enhance financial inclusion and promote cashless payment services.
The others in the list include telecom companies Vodafone and Airtel, non-banking financial company Cholamandalam Distribution Services, multinational firms Reliance Ind and Aditya Birla Nuvo and Dilip Shanghvi of Sun Pharma.

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