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Paytm has doubtful business model, no future: HDFC Bank's Aditya Puri

"Wallets as a valid economic proposition is doubtful. There is no money in the payments business. The current loss reported by market leader Paytm is Rs 1,651 crore. You cannot have a business that says pay a Rs 500 bill and take Rs 250 cash-back,'' Aditya Puri said.