Starting April, major non-banking financial companies (NBFCs), including Avanse Financial Services, Aditya Birla Finance, and Fullerton India, which lend to Byju’s’ customers, suspended loans for the edtech. These play an important role in allowing Byju's to make its sales to its customers via zero-interest EMIs. 

With sales slowing down, the edtech desperately needs these financing options because its one year courses range from anything between Rs 20,000 to Rs 1.4 lakh. Not all its customers can afford to pay it all in one go. This is why Byju’s tied up with these NBFCs in the first place. 

But now that the non-banks have left the building, what is the ailing giant doing to survive?

Tune in.

Recommendations:

Byju’s has one escape route 

Indian lenders cut off Byju’s air supply by not lending to its users

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.