Paytm Senior VP Krishna Hegde Quits

Months after being appointed as the head of the lending business of Paytm, senior vice-president Krishna Hegde has quit the Noida-based company.

The development was confirmed by sources inside the company and ET Rise has reached out to both Paytm and Hegde for their comments.

Hegde had joined Paytm in the capacity of a senior vice president and to lead the consumer investment products at Paytm's Payments Bank division.

In October 2017, Hegde was moved from heading Paytm Gold to oversee the company's lending segment in Paytm's bid to offer financial products to customers and merchants with other lenders.

To join Paytm in February 2016, Hegde had relocated to Paytm's headquarters in Noida from Singapore where he was managing director for credit research at Barclays.

According to information provided on his LinkedIn profile, Hegde was associated with Barclays for a period of seven years and seven months. Apart from Barclays, Hegde has been worked with Lehman Brothers and IDFC Private Equity

Meanwhile, since Paytm cannot lend directly to its users, the company is working towards entering partnerships with commercial banks to move over the limitations imposed by the Reserve Bank of India on payments banks.