Paytm forms a joint venture general insurance firm named ‘Paytm General Insurance Ltd’ – Paytm announced a Joint Venture (JV) general insurance company called Paytm General Insurance Ltd (PGIL). along with it, Paytm has announced to infuse Rs 950 crore in PGIL in tranches, over a period of 10 years and to hold an upfront equity stake of 74% in JV. with this, Paytm General Insurance will be a subsidiary of Paytm.
- PGIL plans to register for and undertake general insurance business defined under Section 2(6B) of the Insurance Act, 1938 (“Insurance Act”).
- Vijay Shekhar Sharma is serving as the Managing Director and CEO of Paytm.
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