A shocking incident has come to light from Hyderabad, where Paytm loan agents have threatened a man with a knife over non-repayment of a Rs 6 lakh loan. The agents entered a restaurant where the man was present, demanding repayment and resorting to violent threats. The situation escalated, highlighting the severe pressure tactics sometimes employed by debt collectors.Meanwhile, an investigation has been launched by the police after a complaint was registered by the victim.According to the sources, the victim who has been identified as Ashok, took a loan of Rs 6 lakh from the fintech company, but due to a huge loss in the business he was not able to pay the debt, resulting in defaulting on EMI payments of Paytm. #Paytmloan agents allegedly threatened a customer, Ashok, with a knife to force loan repayment. Ashok had borrowed ₹6 lakh from Paytm for business development but faced financial difficulties and could not pay the installments on time. He had assured the agents of gradual pic.twitter.com/Jn0ij3hSrG— Glint Insights Media (@GlintInsights) June 22, 2024But, the case got escalated when some recovery agents entered his shop on Friday asking for money. Ashok assured for the repayment in some time but the agents threatened him with a knife.The case has now been registered with Meerpet police and the investigation in the case has been initiated. This incident has brought attention to the aggressive recovery methods used by some financial services.Paytm, a major digital financial services platform, offers various loan options through partnerships with banks and NBFCs. Their services include instant personal loans that can be availed digitally, with flexible repayment terms ranging from 18 to 36 months. While these loans provide quick financial assistance, they also come with the expectation of timely repayment.
