Aditya Birla Finance, one of the lending partners of Paytm invokes its loan guarantees

Aditya Birla Finance, one of the lending partners of Paytm, has invoked its loan guarantees due to defaults by the fintech’s customers. The development sent the stock of Paytm parent One97 Communications Limited (OCL) tumbling to its all-time low.

The OCL share ended with cuts of 5 per cent or ₹16.70 at ₹317.45 on the BSE. Similarly, on the NSE, it settled at ₹317.15, a fall of ₹16.70.

Other partners such as Piramal Finance and Clix Capital have also withdrawn their partnerships with the fintech firm.