PhysicsWallah exits student lending, sells ₹96 crore loan book to Auxilo

PhysicsWallah is stepping back from direct student lending less than a year after its financing arm received a banking regulator's licence. The edtech company said its wholly owned subsidiary FinZ Finance has agreed to transfer a loan portfolio worth ₹95.79 crore to education-focused NBFC Auxilo Finserve, effectively bringing its short-lived direct lending strategy to an end.FinZ Finance signed a deed of assignment with Auxilo on 3 October for the sale and transfer of the portfolio, according to a regulatory filing…