Just months after it moved customers to its TrioTech wallet, the pocket money app would likely have to wind down its UPI offering by 30 June.
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A crash in lending saw the fintech end the financial year in the red. But its payments business is going strong, and the worst may be over in the loans business.
They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.