This step aims at working towards bringing ease of financial assistance to small and medium enterprises (SMEs) and merchants across the country, Lendingkart said in a statement.

The company aims at simplifying the credit evaluation process, through efficient use of technology, making loan disbursement in three days at fair interest rates, it said.

Lendingkart further said, it aims at serving loan demand in the semi-urban and tier-II cities as well, through its simplified process.

Paytm said it is looking forward to expand its seller base, through this partnership with a concentrated focus on SME development.

"Our commitment is to provide our merchants with a simple, seamless selling experience on our platform without having to worry about issues like arranging funds for operational purposes," Renu Satti, VP Business Paytm said.

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