Paytm stock takes a big hit as it pulls back on small loans
- Postpaid loan disbursement is expected to halve in the coming months, the company said. Investors were visibly upset, dragging the stock down almost 19% on Thursday.
Small is no longer beautiful for One97 Communications Ltd, which owns Paytm. The mobile payments and financial services company has decided to cut its disbursement of small loans (less than ₹50,000).