Loans to subscriptions: Paytm feels effect of RBI curtailing Payments Bank

Paytm’s businesses, from loans to merchant subscriptions, are feeling the impact of the Reserve Bank of India (RBI) cracking down on Payments Bank, a unit of the fintech major.

Paytm on Wednesday reported a 54 per cent year-on-year (Y-o-Y) decline in total loans disbursed in its financial results for 2023-24 (FY24).

The company gave loans worth Rs 5,799 crore in the fourth quarter (Q4 FY24), a 53.8 per Y-o-Y decline from Rs 12,554 crore in Q4 FY23. Sequentially, disbursements were down 62.6 per cent from Rs 15,535 crore in Q3 FY24.