Cashback of Rs 501 crore! Shocking, right? But this what Paytm is offering; know how

Paytm, one of the largest digital payment apps, has come up with exciting offers during this Diwali festival, providing the best deals to attract the customers and giving stiff competition to e-commerce players like Flipkart and Amazon sales in the name of  Big Diwali sale and Great Indian Festival respectively. To lure customers, Paytm Mall is giving cashback worth Rs 501 crore under its Maha Cashback sale. 

Paytm Mall has come up with the strategy to attract the customers by giving a statement of  "Get cashback worth Rs 501 crores" on its website.
But is this true; if yes, then how?

Paytm Mall is giving the grand offer to make your Diwali exciting with festive shopping through its website from 1-7 November in its Maha cashback sale.

Paytm began its flagship sale in India on Thursday last week, and is competing for shoppers during the festive season when most big-ticket purchases are made in the country.  

Paytm Mall is offering a cashback up to Rs 8,000 on two wheelers. Also, Rs 16000 cashback and Rs 21,000 exchange offer are available on smartphones. 

The offer extends to TVs & Appliances up to  Rs 20000, and 40% cashback on Gas & chimneys and 40-70% off on branded shoes of Nike and Adidas. 

You can also save Rs 5000 on home products like coffee, salt, rice, shampoo, cold cream etc.

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Up to 70% cashback on clothing is there on offer too. On blue tooth earphones & speakers, Paytm is giving up to 70% discounts and it has extended by 20% cashback which means the offer on speakers and other electronic products is 90%. 

On Air purifiers, Paytm is offering up to 20% cashback on Paytm Mall.

Axis Bank cardholders will get additional benefit, as the bank's customers can receive 10% cashback with the purchase of the TV Alliances, Clothing, Branded shoes and Air Purifiers by using bank's debit card or credit card. 

This is how the company calculated the total amount of Rs 501 crore benefit of cashback that customers can avail on purchase of these products. 

It is the total amount of discounts, offers and cashbacks on all the products available for sale! Which means the company is offering a total amount of Rs 501 crore of discounts on its site for their customers this festive season.