TECHNOLOGY
World-beater in the making: UPI on the cusp of surpassing Visa’s daily transaction volume
The feat is even more remarkable because card networks such as Visa and Mastercard follow a deferred settlement model compared to UPI’s real-time payment settlement model
TECHNOLOGY
NPCI's BHIM doubles transaction volume less than a year after being spun off as separate firm
NPCI spun off BHIM as a separate arm in August 2024 to meet the growing demand for digital transactions and also to end PhonePe and Google Pay's dominance of UPI
TECHNOLOGY
New payment regulatory board is MPC-like independent body and will spur innovation, say fintech executives
There is a growing recognition within the political sphere that payments have, in effect, outpaced traditional banking in both scale and public impact.
BUSINESS
Is Groww worth $7-8 billion? Sebi F&O rules key to determining IPO fate
Broking firms are bracing for higher taxes on trading during the current fiscal, have been earning lower exchange rebates since the middle of the last fiscal, and are facing stricter restrictions on retail F&O trading since late last year
BUSINESS
Iconiq to pump in $150 million in Groww in pre IPO round at $7 billion valuation
The current funding is part of the $300million Series F round where GIC has also put in $150 million
BUSINESS
Zerodha’s AI foray wins early fans, but raises questions over assisted investing
Screenshots shared by users demonstrated how easily complex portfolio insights were generated in conversation-like exchanges with the AI.
BUSINESS
PhonePe designates top officials as key management personnel after turning into public company
The Walmart-owned PhonePe is the country’s largest mobile payment company with close to 50 percent market share
TECHNOLOGY
VCs hail RBI’s proposal to allow banks and NBFCs to invest up to 15% in AIFs
Among the key asks of AIFs has been that banks and NBFCs should not be asked to provision for AIF investments in equity-linked instruments
BUSINESS
IPO-bound Groww to acquire wealth management startup Fisdom for $150 million
The acquisition comes a fortnight before Groww is expected to file for IPO through the confidential route with the markets regulator Sebi
BUSINESS
Groww to file for confidential IPO in two weeks, raises $150 million from GIC
The country's largest stock broking firm by active investor base, has more than doubled its FY24 revenue to Rs 3,145 crore at a consolidated level
TECHNOLOGY
How AI helped Razorpay build conversational payment solutions in 72 hours
An AI agent can integrate multiple APIs without human intervention and a Razorpay customer does not need the engineering expertise to do this
TECHNOLOGY
Top four brokers see third straight month of decline in active investor base
Broking firms are bracing for higher taxes on trading, lower exchange rebates, and stricter restrictions on retail futures and options trading since late last year
BUSINESS
Govt asks RBI, NPCI, others to amp up cyber security amid widening conflict with Pakistan
The finance ministry's advisory follows similar alerts by CERT-In and RBI to step up security against possible cyberattacks
BUSINESS
UPI merchant transaction growth slows, marginal market share gain in the last year
Merchant payments constituted around 63.4 percent of the overall UPI payments in April 2025. In April 2024, it had reached 62.3 percent, representing a gain of only one percent
BUSINESS
Bengaluru Airport back in the black with net profit of Rs 510 crore
In FY25, revenue of the South India's busiest airport, backed by Canadian billionaire Prem Watsa, grew 43 percent to Rs 3,732 crore
BUSINESS
NPCI seeks third-party audit to limit UPI transaction status checks by banks
NPCI has also mandated that banks can initiate a maximum of three check transaction status APIs, preferably within two hours from the initiation/authentication of the original transaction.
BUSINESS
Account Aggregator ecosystem complex, needs time to mature, Sahamati’s BG Mahesh
It is picking up, as more than 3.5 lakh consents are approved daily. The value of loans disbursed through the ecosystem is more than Rs 10,000 crore a month, says the CEO
BUSINESS
The real cost of UPI, missing revenue model, and a case for bringing back MDR
To compensate for the loss of income from MDR, the government proposed a subsidy for the industry. The subsidy aims to compensate for the opportunity cost incurred by financial institutions when the government eliminated the MDR, rather than directly covering their expenses.
TECHNOLOGY
Lack of a transaction status check limiter resulted in incessant requests by banks, leading to UPI downtime
According to an NPCI rule, the banks could check a transaction's success only thrice, and the requests need to be used only once with an interval of 90 seconds
BUSINESS
Why was UPI down for a few hours over the weekend
NPCI has advised banks and their partners to use transaction success checks only a limited number of times and at a specified frequency instead of flooding the system
BUSINESS
NPCI meets banks and UPI apps to discuss outages
UPI registers more than 550 million transactions on average every day and between 17-18 billion transactions a month
BUSINESS
UPI outages indicate the need for new solutions, say fintech executives
Even for a single UPI transaction to be successful, almost six financial organisations need to get their act together. The number of moving parts makes the job hard for NPCI
BUSINESS
SBI’s high UPI transaction failures continue to be a drag on the payments platform
Public sector lenders such as Union Bank of India and Bank of Baroda, which have fewer resources, have a lower failure rate than SBI, NPCI data shows
BUSINESS
Rising Bharat Summit 2025: Tech-led trust helped us crack tier 2 & 3 India, says InsuranceDekho’s Aman Batra
InsuranceDekho is now looking to leverage technology to customise products by analysing the profile of customers.
