Paytm to resume lending platform provider operations from first week of March, say sources

One97 Communication Ltd, which owns the Paytm brand, is likely to resume lending platform provider operations for digital loans by its partner banks and non-banking financial companies (NBFCs) in the first week of March, people aware of the development told Moneycontrol on February 26.

“Initially we had planned to resume operations on March 1, but some discussions are still going on, so it will start in the first week of March,” a person aware of the matter said, on condition of anonymity. Paytm's lending platform provider business is not linked to Paytm Payments Bank Limited’s (PPBL) operations.

Paytm provides a platform for NBFCs and banks to provide personal loans and issue credit cards, respectively, to their customers. As per the Paytm application, these companies and banks are Shriram Finance, Aditya Birla Capital, Poonawalla Fincorp, HDFC Bank, and SBI Cards, among others. Email sent to Paytm remained unanswered till the time of publishing this story.