CURRENT AFFAIRS

Detailed explanation-1: -Digital payments and financial services platform, Paytm, have launched “Postpaid Mini” service for users on July 5, 2021. How loan can be repaid?

Detailed explanation-2: -Digital financial services platform Paytm has launched Postpaid Mini, an extension of its Buy Now, Pay Later service, to drive affordability amongst those new to credit.

Detailed explanation-3: -UPSC Mains Q. Which digital payment platform announced small ticket loans named ‘Postpaid Mini’? Notes: Digital payments and financial services platform Paytm launched small ticket loans named as Postpaid Mini.

Detailed explanation-4: -Small ticket loans now make 50 per cent of the personal loan segment and their ticket size is below Rs 1 lakh, says CRIF High Mark report.

Detailed explanation-5: -Paytm Postpaid is a Buy Now, Pay Later facility offered by Paytm’s NBFC partners (Aditya Birla Finance Limited and Fullerton India Credit Company Limited). This facility is available in the form of line of credit (small on-demand loans) that can be used to make online/offline purchases on 1crore + websites & merchants.