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.
BUSINESS
Fintech unicorn Oxyzo's net profit up 26% in April-December
Revenue was up by 31 percent at Rs 810 crore but the loan book growth slowed to 14 percent against a CAGR of 68 percent during FY21-24
BUSINESS
Why do payment gateways want to disconnect Juspay, even it means losing business
Routing traffic to its own payment gateway instead of others it has integrated with may be at the heart of the matter.
BUSINESS
Flipkart’s super.money looking to raise $60-100 million at unicorn valuation
Super.money is leveraging UPI to expand its customer base to offer more financial services such as secured credit card, personal loan, fixed deposits and buy now pay later
BUSINESS
UPI transactions for FY25 fall short of govt's 200-bn target, record 185 bn transactions
While announcing the last fiscal’s UPI subsidy of Rs 1,500 crore, the government said that the programme aims to promote the UPI platform achieve 200 billion transactions during FY 25
BUSINESS
Merchants stick to Juspay even as payment gateways' ultimatum nears
The PG firms are making exceptions and giving deadline extensions to large merchants as they are not yet ready to sever ties with Juspay
BUSINESS
Fissures appear in Payments Council on letter to PM Modi on MDR without consultation
Some fintechs are miffed with Payments Council of India after it shot off a letter to PM on MDR without consultation. Such an aggressive public posturing on MDR could be counter productive, they said
BUSINESS
Lower UPI subsidy an indication that MDR on UPI is around the corner, say bankers
With the subsidy limited to small merchants, the government is shifting the subsidy burden to large merchants
BUSINESS
Anand Mahindra, Arali Ventures invest in AI agritech startup Harvested Robotics
The startup’s AI-driven weed-burning technology aims to reduce costs for farmers, increase yields and promote organic farming practices
BUSINESS
Top Navi executives Shobhit Agarwal and Apurv Anand quit to launch asset management company
The duo is planning to start the venture with a market regulator Sebi’s Portfolio Management Services (PMS) license targeting high-net-worth individuals and financial institutions
