Paytm earned customers through cashbacks, not via its services: Aditya Puri
Image Credit: economic times
Veteran banker and former CEO of HDFC Bank Aditya Puri has raised serious questions about fintech giant Paytm’s business model, by saying that the listed fintech startup has earned customers not through rendering financial services but via its cashbacks. Puri, who led HDFC Bank since its inception over 25 years ago, retired in October 2020, after a successful career which has made the bank the largest among private sector lenders in India.