In a tragic incident in Indore, a 35-year-old employee of Paytm Payments Bank Ltd (PPBL), Gaurav Gupta, took his own life amidst fears of losing his job due to the company’s uncertain future.

What Happened? Police inspector Taresh Kumar Soni told PTI that they found Gupta deceased in his home on Sunday, with indications suggesting deep stress over the possibility of PPBL shutting down.

This comes in the wake of recent regulatory actions by the Reserve Bank of India (RBI), which has imposed restrictions on PPBL, barring it from onboarding new customers or accepting deposits due to compliance issues.

In a related development, Paytm’s CEO, Vijay Shekhar Sharma, resigned from his roles as non-executive chairman and board member of the payments bank.

Sharma’s move, along with the induction of independent directors, aims to ensure a smooth transition and strengthen the company’s governance, amidst efforts to reestablish PPBL as a separate and compliant entity.

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