Paytm plans to Invest another Rs 5,000 Crore in Payments Business over Three Years

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Paytm, India's largest online payments and mobile wallet company, will invest another Rs 5,000 crore in the business over the next three years, founder Vijay Shekhar Sharma said, while playing down competition from deep-pocketed global giants including Google. "The biggest threat for us will be us, not anybody else," Sharma said in an interview. But the entry of global companies,…

Reliance Cap sells Paytm stake for Rs 275 crore

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Reliance Capital has sold its nearly 1% stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm. The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives a valuation of over $4 billion…