Paytm expands credit business; Loans given to consumers and traders, Delhi News in Hindi

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New Delhi. India’s leading mobile payments and financial services delivery company Paytm on Wednesday said it will expand its credit business in partnership with large banks and NBFCs. It will offer business loans to low-risk individuals.

Due to strong portfolio performance and wide acceptance of lending, Paytm saw encouraging results when it started working in this direction last quarter.

A Paytm spokesperson said, “As the lending business grows, we are looking at new opportunities to expand to offer personal and business loans. We will continue to focus on generating high portfolio quality for our partners. We have seen massive acceptance for our loan distribution business, so we believe this expansion will help us grow the business.”

In light of recent macro developments and regulatory guidance and in consultation with lending partners, the company is focused on running a healthy portfolio and has recalibrated the sub-Rs 50,000 portfolio – predominantly postpaid loan products now a small part of it. Its loan distribution business is growing.

Paytm is focusing on business loans which are given to MSMEs as business loans. Given that these loans are made for business purposes to support small traders, they remain unaffected by recent regulatory guidance.

The company said it will continue to add banks and NBFCs as its lending partners for its loan distribution business.

–IANS

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