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

Manju Agarwal resigned from the board of Paytm Payments Bank on Feb. 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. (Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman )