Today, the price of One97 Communications, which owns the digital payment app Paytm, dropped by 20% to reach ₹650 per share. The company’s stock dropped a lot after it said it will reduce the number of small loans it gives out.
1 min read 2023-12-07, 05:20 PM IST
One97 Communications, which owns the Paytm app, saw a big drop in its shares today. They went down by 20% to ₹650. 45 per share The company’s decision to reduce small loans because of new rules caused a big drop in business.
Experts believe that changing the focus away from small Buy Now, Pay Later loans will have a big impact on the number of loans given out, because more than half of the loans are in this category. On Wednesday, the company announced in a official document that they are changing the way they give out small loans because of new rules and advice from regulators. They are working with their lending partners to do this.
Even though Paytm is changing its strategy, they said that they will still be focusing on giving loans to small businesses. The rules about these loans have not changed because of recent government regulations.
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