BUSINESS
Merchant loyalty to Paytm intact despite the payments bank setback, says Datum survey
According to a large survey of 2,000 people done by Datum Intelligence, 80 percent of the merchants said that they are either staying or waiting for more information before shifting. Only 13 percent planned to shift to competitors
BUSINESS
After Axis Bank, HDFC and Yes Bank submit TPAP application for Paytm UPI business
On February 23, RBI said that customers and merchants having ‘@paytm’ handles are to be migrated seamlessly from PPBL to a set of newly identified banks to avoid any disruption
BUSINESS
Despite RBI’s tightening of unsecured loan norms, Navi scaling up well, says Sachin Bansal
Navi Finserv’s third non-convertible debentures opens on February 26 with an issue size of Rs 600 crore. The fintech’s two previous NCDs had raised close to around Rs 1,000 crore
TECHNOLOGY
Paytm, Axis Bank to submit TPAP application for UPI business with NPCI this week
Paytm is also in discussions with several other banks, including Yes Bank, HDFC Bank, ICICI Bank, and Canara Bank; however, none of the discussions have concluded yet.
BUSINESS
What the RBI FAQs mean for Paytm and its users: Said and Unsaid
It is effectively curtains for Paytm Payments Bank per the RBI FAQs but there is some good news for One97 Communications. Read on
BUSINESS
RBI consults NPCI, NETC, BBPS ahead of FAQs on Paytm to minimise consumer disruption
The FAQs on Paytm is not likely to offer any indemnity for banks taking up the PPBL accounts. RBI is also not expected to specify its approval or disapproval of banks making any business decisions to work with PPBL
BUSINESS
Hurts when people don’t understand we turned profitable without cutting expenses: PB Fintech’s Yashish Dahiya
In conversation with moneycontrol, the founder says that only a few investors could see the real strength of the company, which includes his early investors like Info Edge.
BUSINESS
Without RBI migration approval, Paytm's UPI business faces an existential crisis
Paytm has a 13 percent market share in UPI debit transactions and around 20 percent market share in credit transactions
TECHNOLOGY
Tough times ahead for Paytm Payments Bank as RBI refuses to offer any concessions
Paytm’s plan for migrating accounts to other banks may not happen anytime soon with the RBI refusing to intervene in the payment company's business discussions with banks
BUSINESS
VSS, senior Paytm officials meet RBI, regulators not keen on saving wallets business
The RBI is not keen on salvaging the company's wallet business through migration or transfer of assets. The discussions mostly centred on stabilising and transitioning the UPI accounts and handles managed by PPBL
BUSINESS
Banks await RBI green light before partnering with Paytm to take over merchant accounts
Banks are worried about the scale of KYC migration. They will have to do the millions of KYC all over again and the risk-reward ratio does not seem appealing
BUSINESS
Moving Paytm Payments Bank accounts to other banks likely to be a difficult task
Paytm Payments Bank is the largest beneficiary bank in UPI ecosystem. This move will relegate Paytm like any other UPI app without a USP, which helped the company win merchants in the first place, giving PhonePe and Google Pay to increase market share
BUSINESS
RBI deals body blow to Paytm with crippling restrictions on its payments bank
Paytm Payments Bank is one of the key partners that houses many of the key products offered by Paytm including wallets, FASTags, UPI and deposit accounts of millions of merchants.
BUSINESS
Increasing customer frequency to Flipkart app is key, says CEO Kalyan Krishnamurthy
Flipkart has around 500 million users on its platform, while expansion is key the firm has turned its main focus towards increasing the user frequency to the app.
BUSINESS
Flipkart will go slow on hiring, says CEO Kalyan Krishnamurthy
The Walmart-owned e-commerce giant recently let go of 1,000 employees, as part of its annual performance review exercise. The prolonged funding winter saw major Indian startups handing out pink slips to their employees in 2023, as companies attempt to realign cost structures.
BUSINESS
MC Interview: No better job than Flipkart CEO in the world, says Kalyan Krishnamurthy
After seven years at the helm, e-commerce chieftain talks about steering the internet behemoth through changes in India's retail sector, changing ownership of the company, and ongoing AI disruption. Krishnamurthy believes the next phase in e-commerce growth lies in fixing the gap between people who buy monthly and those who buy once a year.
TECHNOLOGY
Governance in Indian startups needs to improve, more independent directors needed: Flipkart CEO Kalyan Krishnamurthy
According to Krishnamurthy, shareholders and management are too closely involved with the company for them to raise tough questions.
TECHNOLOGY
MC Interview: Flipkart to launch its payment product within a month, says CEO Kalyan Krishnamurthy
Even as e-commerce giant Flipkart is expanding its financial services portfolio with credit, UPI and insurance, Krishnamurthy says the aim is to enhance the frequency of transactions on the ecommerce platform, adding that it has no ambitions to become a large payments company.
BUSINESS
Rupay credit card monthly spending crosses Rs 10,000 crore; doubles market share
The number of Rupay credit cards in circulation crossed 10 million in December, which is a little more than 10 percent of the overall credit cards in circulation.
BUSINESS
Only passive index funds can take equity investing to the masses: Zerodha Fund House’s Vishal Jain
While there are around 13-14 crore mutual fund accounts in the country, only a third are active and unique. According to Jain, this is because equity investing is still a complex product, whereas passive funds’ simplicity can attract new investors
BUSINESS
Zerodha-backed smallcase looks to widen its investment products by getting into Mutual Funds and fixed income products
smallcase users are now tracking Rs 12,000 crore of their mutual fund investments on the app, and can soon start investing as as well as managing their SIPs/transactions from the app.
BUSINESS
Manufacturing vs Services: Top economists Raghuram Rajan and Arvind Subramanian have different views on achieving Tamil Nadu's trillion dollar economy goal
Despite the rising labour cost, Tamil Nadu has been able to achieve manufacturing investment owing to its skilled workforce, the economists said
BUSINESS
UPI transactions cross 100-billion mark in 2023
The value of transactions stood at around Rs 182 lakh crore in 2023, a growth of 44% as compared to the preceding year.
BUSINESS
2023 saw RBI making fintechs follow the regulations in letter and spirit
The year also saw the regulator-backed digital payments product UPI achieving new milestones and consistently clocking more than 10 billion transactions every month since August.
