Fintech services major Paytm on Thursday refuted media reports claiming about invoking loan guarantees due to repayment defaults by the company’s lending partners.
Paytm representation Image (Photo:IANS)
Fintech services major Paytm on Thursday refuted media reports claiming about invoking loan guarantees due to repayment defaults by the company’s lending partners.
In a stock exchange filing, Paytm said such reports are “inaccurate”.
Advertisement
“Paytm acts as a distributor of loans, and does not provide a First Loss Default Guarantee (FLDG) or other loan guarantees to lending partners,” said the fintech major.
Advertisement
“We continue to collaborate with multiple banks and NBFCs, ensuring a diversified lending partnership network while strictly adhering to risk and compliance,” it added.
According to the company, its Personal Loans distribution business was not disrupted and “continued to scale effectively”.
Regarding reports on recent employee exits, the company said it has a robust senior leadership structure with over 50 Senior Vice Presidents, supported by a strong management and governance framework.
“As part of our annual performance assessment, we will continue to evaluate our talent bench periodically within the context of our future plans, which will result in transition of some roles and employees,” the company said.
Advertisement
