Airtel Payments Bank CEO Steps Down
Shashi Arora resigned days after Airtel Payments Bank’s eKYC license was revoked by UIDAI.
Airtel Payments Bank Managing Director and Chief Executive Officer Shashi Arora resigned days after the firm's eKYC licence was suspended by Aadhaar-issuing body Unique Identification Authority of India.
“Shashi has decided to move on to pursue opportunities outside of Airtel. We wish Shashi the very best for his future endeavours,” the company said in a media statement. Arora has been working with Airtel in senior leadership roles since 2006. He was appointed MD and CEO of Airtel Payments Bank on June 1 last year.
Recently, the UIDAI temporarily revoked permission for Airtel and Airtel Payments Bank to use Aadhaar numbers for verification. The suspension came after allegations that payment bank accounts of mobile consumers were opened without their informed consent.
Government subsidies were transferred to these accounts. Airtel deposited 138 crore into the original bank accounts of those consumers.
The UIDAI has now allowed Airtel to use Aadhaar numbers only for e-verification of the mobile numbers of their consumers. It, however, maintained that Airtel Payments Bank eKYC licence will remain suspended till the final enquiry and audit report.
(With inputs from PTI)