A non-bank fintech lender controlled by Chinese organizations through a Nasdaq-listed Norwegian software firm shows the depth of the predatory loan app crisis.
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A breakdown of the recent numbers suggests that the Policybazaar parent may face a slowdown in the years ahead.
They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
With Fullerton acquiring a controlling stake last year, the fintech startup has seen an overhaul of the current leadership, trimmed loan disbursements and a halt in product rollouts.