Paytm ramps up instant loans for MSMEs, self employed; partners with Clix
Posted on 23rd July 2019 |
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| Vijay Shekhar Sharma’s Paytm has ramped up its loans operations and has partnered with Clix Finance India Pvt. Ltd. to provide loans to MSMEs and self-employed people, it announced in a statement on Tuesday. Clix, a digital lending NBFC, and Paytm will now offer instant digital loans to both the customers and merchants of Paytm. The company targets “new-to-credit, self-employed, small and micro enterprises and small borrowers,” who are largely underserved and face difficulties to get loans, the digital commerce company said. The One97 Communication Ltd company will use proprietary machine learning models developed by Paytm and Clix, for the same. Paytm already has a partnership with Tata Capital and Indifi, two other NBFCs. Paytm said that it will offer “Deferred Payment or Post-paid” and “Merchant Lines” amongst other products to its customers and merchants. Both Paytm and Clix are expected to launch several other new products over the next few months to meet consumer demands, Announcing the partnership, Nitin Misra, Senior Vice President, Paytm said that the company has already seen an overwhelming response to Paytm Postpaid & Merchant lending products. Meanwhile, Paytm’s e-commerce arm Paytm Mall announced its collaboration with American multinational e-commerce company eBay. eBay has acquired 5.5% share in Vijay Shekhar Sharma’s Paytm Mall in a move that is expected to create a strong foothold in the domestic e-commerce market for eBay. eBay has already ventured and failed twice to get a significant share in the Indian e-commerce market. However, with the recent collaboration, Paytm Mall customers will be able to shop for products available on eBay. “This will make eBay inventory accessible to tens of millions of Paytm Mall active customers in India,” Paytm Mall announced in a statement. Paytm Mall, a subsidiary of the largest Indian e-commerce platform, plans to sell millions of products from eBay inventory via its digital platform. Neither of the companies has divulged the details of the deal. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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