Each government scheme, then, is free to dip into this list to come up with a list of beneficiaries depending upon the criterion it wishes to use. Paytm E-commerce, which operates Paytm Mall, reported a total loss of Rs 13.6 crore in the first seven months of operations ended March 31, 2017, according to company's filings with the Registrar of Companies (RoC). In 2016, three separate businesses were carved out of the parent company, One97 Communications. The businesses were Paytm Wallet, Paytm Payments Bank and Paytm\u00a0 e-commerce.\u00a0 The company incurred Rs 12.4 crore in employee benefit expenses, which contributed 60% of the total expenses of Rs 21 crore. In an email response, a Paytm Mall Spokesperson said, \u201cThese are the initial years for Paytm Mall and we have a long-term perspective on building a successful tech business. We will help customers receive the same trusted retail experience synonymous with our brand and act as a technology enabler for the country's massive offline retailer community.\u201d In September this year, just before the start of the festival season, the company committed investment of Rs 1,000 crore in cash backs, marketing and promotions. The e-commerce portal, which competes with the likes of Amazon and Flipkart, held its first festival season sale between September 20 and 23. According to several media reports, Paytm Mall is in talks with investors from Asia and the United States for raising `3,000-4,000 crore by the end of 2017.