Sanjay Saxena, Bharat Panchal resign from NPCI

The National Payments Corporation of India’s (NPCI) top executives Bharat Panchal and Sanjay Saxena has stepped down from their positions, according to the sources.

NPCI

Panchal, the Chief of Risk at the company has resigned last week. He will be joining payments technology company FIS Global as Chief Risk Officer, India, Middle East, and Africa.

Saxena left NPCI a week before Panchal to join Paytm Payments Bank as its Chief Financial Officer.

“As per NPCI’s organisational structure, chief of risk and CISO (chief information security officer) report to chief risk officer (CRO). Bharat Panchal was the chief of risk who has left NPCI to pursue other opportunities,” said Dilip Sabe, Chief Executive Officer, NPCI as reported by an English Daily.

 “NPCI is in the process of hiring chief risk officer,” he said.

Paytm spokesperson confirmed that “Saxena has joined the company as a Senior Vice President and Chief Financial Officer at Paytm Payments Bank. Saxena will be reporting to the top executive at Paytm Payments Bank Satish Kumar Gupta, who incidentally was also with NPCI before joining the bank.”

FIS Global also confirmed the appointment of Panchal as Chief of Risk.

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