Paytm, India’s largest financial services company has appointed Srinivas Yanamandra as its Group Head of Regulatory Affairs and Policy. The Yanamandar has work experience of 20 years in building compliance systems and processes at large and fast-growing businesses.

New Development Bank in Shanghai was the last company of Yanamandra, where he served in the compliance division. Firstly, he worked with ICICI Bank and IDFC First Bank in Mumbai as a compliance professional, focusing on banking regulation, including governance, risk management, prudential reporting, risk-based supervision, digital banking, and more.

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In India, Yanamandra’s appointment comes when the fintech ecosystem is under the RBI’s glare. In March, the central bank directed Paytm founder Vijay Shekhar Sharma- to promote Paytm Payments Bank Ltd (PPBL) to stop opening new accounts amid ‘material supervisory concerns’ observed in the bank.

Later on, the Paytm Payments Bank Ltd’s servers shared information with China-based entities that indirectly own a stake in Paytm Payments Bank. The group named Digital Currency Global Initiative is a collaboration between Stanford University and the International Telecommunication Union; Yanamandar is a member of this group.

He said, “Paytm’s contribution to the Indian fintech landscape is exemplary, augmented by the business-friendly regulatory developments in the country. I’m excited to contribute to fuelling the company’s journey further as it continues to achieve new milestones.”