Amazon India’s fintech Vice President Sriraman Jagannathan has resigned from the company. The e-commerce giant confirmed the development to MediaNama, saying that he quit the firm due to personal/ family reasons. Jagannathan joined Amazon India in January 2016 to lead its payments business, following a stint at IDFC Bank as its chief digital and data officer. Before that, Jagannathan worked as the CEO of Airtel mCommerce, where he had ‘set up and launched Airtel Money’ according to his LinkedIn profile. An Amazon India spokesperson has told MediaNama that Amazon Pay's current chief Mahendra Nerurkar, will now oversee the financial services portfolio, which was managed by Jagannathan. According to reports, Nerurkar replaced Jagannathan as Amazon Pay's head, when the later was assigned the larger role of leading the firm's financial services vertical. This could be a tough time for Narurkar to take over as we reported earlier this month that the company’s plan to launch its own Unified Payments Interface (UPI)-based payments service has been hampered owing to the Reserve Bank of India’s concerns regarding the storage of user data in India. Moreover, most international payment companies operating in India are now worried that they will not be able to adhere to the RBI’s deadline of storage of payment system data in India. In April, the RBI, mandated that all payments system operators working in India had to ensure that data related to payment systems operated by them is stored in India only within 6 months. The move would have come into effect from October 15 this year,…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...