Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
BENGALURU (Reuters) -India's Paytm plunged as much as 20% on Thursday, its steepest decline since listing two years ago, as the digital payments firm plans to give out fewer low-value personal loans after the Reserve Bank of India (RBI) tightened rules on consumer lending.
The non-bank lender said on Wednesday it will go slow on sub-50,000-rupee (about $600) loans but expand its portfolio of high-ticket personal and commercial loans.
