Paytm says it disbursed 15.2 million loans in FY22
- ByStartupStory | May 16, 2022
Paytm, a digital payments and financial services company, has announced that it will seek a new non-life insurance license aimed at prepaying a 74% stake and taking ownership of a majority. In submitting to the Regulatory Authority, Paytm was so optimistic about the possibility that it reiterated its intention to enter the general insurance sector. Paytm said it remains optimistic about the non-life insurance roadmap, “we will seek the necessary approval for a new non-life insurance license with 74% control in advance.”
Paytm for digital payments in India It is synonymous with and a pioneer. Domestic QR code and wallet trends. We have also succeeded in entering financial services due to the rapid growth of our partner-based lending business.
This is a new application in which Paytm’s parent company One 97 Communications Ltd directly holds a majority stake in place of the previously fully proposed 11 in conjunction with the growing penetration of technology-enhanced insurance in India. Gives the company the confidence to submit. Diluted stakes are percentages.
The decision to seek approval for the new license will be made after Paytm and RahejaQBE have agreed to discontinue the proposed acquisition of RQBE.
The company in the exchange filing said, “Our associate company, Paytm Insuretech Private Limited, had entered into a share purchase agreement to acquire 100 per cent of Raheja QBE General Insurance Company Limited. As the share sale and purchase transaction has not been consummated within the time period envisaged by the parties under the said agreement, the agreement has automatically terminated.”
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