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.
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The losses, however, narrowed on a sequential basis. Its consolidated loss stood at Rs 778.4 crore in the quarter ended December 2021.
