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The resignations come after President and COO Bhavesh Gupta, a close confidante of founder Vijay Shekhar Sharma, resigned from his position last week and transitioned to an advisory role. ....
At the end of the December quarter, mutual funds held 4.99 percent stake in Paytm, up from 2.79 percent in the previous quarter. Nippon held a 1.05 percent and Mirae a 2.5 percent stake in the company ....
Amid regulatory concerns, top Indian banks and non-bank lenders have advised fintech partners to reduce issuing small personal loans. Paytm on Wednesday announced it will go slow with loans below 50,000 rupees, aligning with RBI s cautionary stance on personal loans and NBFC lending due to rising risk concerns, prompting lenders to reconsider their lending strategies. ....
Goldman Sachs on Thursday downgraded One 97 Communications, which owns and operates Paytm, to 'neutral' from 'buy' and lowered the price target to 840 rupees from 1,250 rupees. ....