New Delhi, May 9: Fintech services major Paytm on Thursday refuted media reports claiming about invoking loan guarantees due to repayment defaults by the company's lending partners.

In a stock exchange filing, Paytm said such reports are "inaccurate". "Paytm acts as a distributor of loans, and does not provide a First Loss Default Guarantee (FLDG) or other loan guarantees to lending partners," said the fintech major. Paytm CBOs Ajay Vikram Singh, Bipin Kaul Exit Company as Part of Restructuring Exercise.

"We continue to collaborate with multiple banks and NBFCs, ensuring a diversified lending partnership network while strictly adhering to risk and compliance," it added. According to the company, its Personal Loans distribution business was not disrupted and "continued to scale effectively".

Regarding reports on recent employee exits, the company said it has a robust senior leadership structure with over 50 Senior Vice Presidents, supported by a strong management and governance framework. NPCI Deadline Update: National Payments Corporation of India To Challenge UPI Duopoly of Google Pay and PhonePe, Likely To Implement or Extend 30% Market Share Cap on Service Providers; Check Details.

"As part of our annual performance assessment, we will continue to evaluate our talent bench periodically within the context of our future plans, which will result in transition of some roles and employees," the company said.

(The above story first appeared on LatestLY on May 10, 2024 11:51 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).