May 23 (Reuters) - Paytm Payments Bank:

* India's Paytm Payments Bank names five-member board Source text: Paytm announced today that it held a board meeting to formally approve the launch of the Paytm Payments Bank. Former RBI Executive Director PV Bhaskar, Saama Capital Managing Partner and Co-Founder Ash Lilani and former Shriram Group Director GS Sundarajan have joined the five-member board as Independent Directors. Vijay Shekhar Sharma, Founder and CEO – Paytm, is non-executive Chairman, and Ms. Renu Satti, CEO - Paytm Payments Bank, is also a director on board of Paytm Payments Bank.

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