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The board of Paytm has appointed Deependra Singh Rathore as Chief Technology Officer

The shares of Paytm dropped by 8.35% to Rs 637.10 a piece on October 7, following the resignation of the Chief Technology Officer, Manmeet Singh Dhody.

“At Paytm, he has built and enhanced payments technology to provide exhaustive payment solutions to merchants and customers such as online payment gateway, QR payments, Card Payments, One 97 Communications, parent of fintech major Paytm, said in the filing

Dhoby Earlier Worked with Agnity, and Snapdeal

Additionally, One 97 Communications said, “Before joining Paytm, Mr. Rathore worked with Agnity, Snapdeal from 2004 to 2016 as an Engineering Manager,” One 97 Communications, parent of fintech major Paytm, said in the filing.

Board Appointed Deependra Singh Rathore as Chief Technology Officer

Dhody will move into a new position as an AI Fellow in Paytm. The board has appointed Deependra Singh Rathore as Chief Technology Officer.

Since January 2016, Rathore has been employed by the Company and its subsidiary, Paytm Payments Bank. At present, he serves as the Senior Vice President- Technology.

Rathore worked on AI-driven strategic projects and managed the development and execution of payment products and services, according to the company.

Currently, domestic brokerage firm Emkay has upgraded the stock from ‘Reduce’ to ‘Add’.

Significantly, the investment company has increased the set price by twofold or 100 percent with  Rs 750 per share.

Paytm has ventured into the insurance sector, equity broking, and wealth management, broadening its chances for cross-selling.

Moreover, Paytm sold its entertainment ticketing business to Zomato at Rs 2,048 crore, focusing on its core payment and financial services.