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Paytm gets Rs 300 cr loan from ICICI Bank

Online payments and e-commerce player Paytm has secured a loan around Rs 300 crore from ICICI Bank. Paytm founder Vijay Shekhar Sharma has been quoted in news reports as saying the loan is a treasury management move for working capital. While adequate funds are there, Paytm’s finance team advised to get these credit lines for working capital on the back of security such as fixed deposits, mutual funds, etc, in order to conserve cash, he said.

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