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News on Medial
Paytm Tentative Timeline To Restart Loan Sanctioning Ends On Feb 14
OutlookIndia
·
1y ago
Medial
Fintech firm Paytm's timeline to resolve operational challenges and restart sanctioning new loans is set to end on February 14. Paytm, affected by RBI restrictions on Paytm Payments Bank Limited (PPBL), plans to resolve the challenges before returning to normal operations. It needs to migrate repayments linked to PPBL to other banks to avoid disruption. In the last quarter of 2023, Paytm distributed loans worth Rs 15,535 crore to merchants, individuals, and through postpaid loans.
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Paytm tentative timeline to restart loan sanctioning ends on February 14
Economic Times
·
1y ago
Medial
According to a tentative timeline shared by Paytm, the fintech firm aims to resolve operational challenges for its lending business and restart sanctioning new loans by February 14. The company is facing difficulties due to RBI restrictions on Paytm Payments Bank Limited (PPBL), which has led to the suspension of issuing new loans temporarily. Paytm needs to migrate repayments linked to PPBL to other banks to ensure smooth functioning. In the December quarter, Paytm distributed loans worth Rs 15,535 crore across various categories.
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Paytm To Resume Loan Disbursals In First Week Of March
Inc42
·
1y ago
Medial
Paytm, the Indian fintech giant, plans to resume its loan disbursals in the first week of March. The company had temporarily ceased its small-ticket loans of less than INR 50,000 following tightened regulations by the Reserve Bank of India. Paytm is now looking to restart its lender platform provider operations, aiming to increase high-ticket personal and merchant loans in partnership with banks and non-banking financial institutions. Paytm's lending business grew rapidly in the first three quarters of 2023, with loan disbursals reaching INR 15,535 crore, but experienced a decline due to scaling down of small-ticket loans.
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RBI bars Fairfax-backed IIFL Finance from sanctioning, disbursing gold loans
VCCircle
·
1y ago
Medial
India's central bank, the Reserve Bank of India (RBI), has ordered non-bank entity IIFL Finance to halt the sanctioning and disbursing of gold loans due to "material supervisory concerns" found in its gold loan portfolio. The RBI identified issues such as improper assessment of collateral and breaching loan-to-value ratios. The company is able to continue servicing existing gold loan portfolios. IIFL Finance has not yet responded to the RBI's order.
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Byju’s, lenders miss August 3 timeline to rework loan terms
Money Control
·
2y ago
Medial
The timeline for reaching an amendment was formally announced on July 24 by a steering committee of ad hoc term loan lenders who collectively own more than 85 percent of Byju’s $1.2-billion term loan. The committee had said that it and the company agreed to work collaboratively toward a signed and completed term loan amendment (the “Amendment”) prior to August 3, 2023
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Aditya Birla Finance, others may have invoked Paytm’s loan guarantees
Economic Times
·
1y ago
Medial
Aditya Birla Finance, Piramal Finance, and Clix Capital have terminated their partnerships with Paytm due to repayment defaults from customers. Aditya Birla Finance is said to have invoked loan guarantees provided by Paytm. This is causing financial strain for Paytm as these guarantees could amount to hundreds of crores of rupees. Paytm's lending business has been affected by the ban on Paytm Payments Bank and a slowdown in unsecured consumer lending. Paytm generated a significant portion of its revenue from its financial services, but with the recent developments, the company's lending partners have halted new disbursals, impacting repayments severely. Paytm may announce new partnerships with firms like Muthoot Fincorp to revive its loan issuance.
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Paytm shares hit Rs 1,000-mark on business recovery, revenue growth - The Economic Times
Economic Times
·
22d ago
Medial
Shares of Paytm's parent company, One 97 Communications, have significantly rebounded, rising 117% in the past year. This recovery follows Paytm's approval to restart UPI customer onboarding after regulatory setbacks. The company has been improving business metrics, with a focus on merchant loans and financial services, bolstered by a Default Loss Guarantee initiative. While revenues declined 16% year-on-year in Q4FY25, Paytm achieved an operational profit excluding Esop costs.
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Q3 Results Today: M&M, NMDC, Muthoot Finance, ABFRL to post earnings on Feb 14
Livemint
·
1y ago
Medial
On February 14, several top companies including Mahindra & Mahindra, NMDC, Muthoot Finance, Natco Pharma, Indiabulls Housing Finance, and Shriram Properties are scheduled to announce their Q3 results. The benchmark indices showed recovery on February 13, with BSE Sensex gaining 483 points and Nifty 50 increasing by 127 points. Market volatility is expected to persist due to factors like geopolitical concerns, stretched valuations, and FII selling. Over 30 major companies are set to announce their earnings on February 14.
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Paytm shares rally 4% after UBS forecasts its EBITDA breakeven in FY25
Inc42
·
1y ago
Medial
Shares of Paytm surged 4% to INR 746.4 on the BSE, following a report by UBS Securities projecting that the company will reach breakeven on EBITDA by FY25 and achieve an EBITDA margin by FY28. UBS expects Paytm's top line to grow at a CAGR of 21% from FY24 to FY28. The brokerage initiated coverage on Paytm with a 'Buy' call and a target price of INR 900. Paytm's loan origination and merchant loan business were also highlighted as positive factors by UBS.
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Paytm Payments Bank Hopeful About RBI Lifting Customer Onboarding Restrictions By March 2024
Inc42
·
1y ago
Medial
Paytm Payments Bank is hopeful that the Reserve Bank of India (RBI) will lift the restrictions on onboarding new customers by March 2024. The RBI had barred Paytm Payments Bank from onboarding new customers in March 2022 due to "certain material supervisory concerns." While there is no definite timeline for the lifting of restrictions, the company is optimistic about resuming customer onboarding by March next year. Paytm Payments Bank is the top payments bank in India and has been working to address the RBI's concerns.
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Paytm slowing down low ticket Postpaid loans by around 50%, accelerating high ticket loans
Money Control
·
1y ago
Medial
Paytm has announced that it will be slowing down its small ticket Postpaid loans while focusing on expanding high ticket personal loans and merchant loans. This decision is in line with recent regulatory guidance and aims to ensure a healthy loan portfolio. While there have been complaints from users regarding blocked accounts, Paytm has denied stopping the loan service and claims that it is upgrading the experience and enhancing security measures. The company's lending partners have not stopped lending to its customers.
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