However, Alibaba group firm Ant Financial has not diluted its stake in Paytm and continues to hold 25 per cent of the company
The proposal to set up a joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20.
The losses, however, narrowed on a sequential basis. Its consolidated loss stood at Rs 778.4 crore in the quarter ended December 2021.
Subscribe to get complete access to Outlook Print and Digital Magazines, Web Exclusive stories and the Archive. Attractive gifts with each subscription.Check our Plans