<p>Digital payments firm Paytm said on Wednesday it will cut down on disbursing loans under 50,000 rupees ($600.14), weeks after the central bank tightened rules on consumer lending after a surge in demand. The move will lead to a near 40-50 per cent drop in the volume of loans given out through the platform's post-paid product, Bhavesh Gupta, President and chief operating officer of Paytm, said on a call with analysts. The impact on Paytm's revenue growth will be minimal, he added.</p>.Warren Buffet’s conglomerate sells entire stake in Paytm at a loss.<p>The company said it will expand its portfolio of higher ticket personal and commercial loans to lower risk and high credit-worthy customers, expecting "good demand" for loans of more than 50,000 rupees.</p>.<p>The development comes as Reserve Bank of India raised risk weightages for banks and non-bank financial companies (NBFCs) by 25 percentage points as it looks to tighten norms for personal loans and credit cards, in turn raising the risk of slow loan growth.</p>.<p>Paytm, which currently has seven non bank finance companies (NBFC) as partners for lending, said it was in the process of adding one banking partners and two NBFC partners.</p>.<p>Loan distributed for the company during the September quarter more-than-doubled in value to 162.11 billion rupees ($1.95 billion), while its financial services revenue, which includes their loans business rose 64 per cent.</p>
<p>Digital payments firm Paytm said on Wednesday it will cut down on disbursing loans under 50,000 rupees ($600.14), weeks after the central bank tightened rules on consumer lending after a surge in demand. The move will lead to a near 40-50 per cent drop in the volume of loans given out through the platform's post-paid product, Bhavesh Gupta, President and chief operating officer of Paytm, said on a call with analysts. The impact on Paytm's revenue growth will be minimal, he added.</p>.Warren Buffet’s conglomerate sells entire stake in Paytm at a loss.<p>The company said it will expand its portfolio of higher ticket personal and commercial loans to lower risk and high credit-worthy customers, expecting "good demand" for loans of more than 50,000 rupees.</p>.<p>The development comes as Reserve Bank of India raised risk weightages for banks and non-bank financial companies (NBFCs) by 25 percentage points as it looks to tighten norms for personal loans and credit cards, in turn raising the risk of slow loan growth.</p>.<p>Paytm, which currently has seven non bank finance companies (NBFC) as partners for lending, said it was in the process of adding one banking partners and two NBFC partners.</p>.<p>Loan distributed for the company during the September quarter more-than-doubled in value to 162.11 billion rupees ($1.95 billion), while its financial services revenue, which includes their loans business rose 64 per cent.</p>