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Paytm was right to get into selling insurance. But two years in, its ambition to build its own insurance business has gone nowhere.
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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.