Financial technology company Paytm on Monday confirmed media reports of an independent director at its banking arm having resigned.

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Manju Agarwal resigned from the board of Paytm Payments Bank on February 1 due to personal commitments, the company said in an exchange filing.

The payments firm on Friday said it would form an advisory committee on compliance and regulatory matters, a week after India's central bank ordered Paytm Payments Bank to wind down most of its operations.