BUSINESS
Indian banks spark AI gold rush as tech firms race to tailor language models, build agents
As major banks such as Punjab National Bank and Union Bank of India float tenders for BFSI-specific Gen AI tools, tech majors like HCLTech and TCS to consulting firms like EY alongside startups like Perfios, Sarvam are racing to offer domain-tuned models, Agentic AI, and secure copilots.
BUSINESS
Paytm walks away from DLG: Why fintech major is ditching guarantees in lending for good
After flip-flopping on the Default Loss Guarantee system, including a brief arrangement in the second half of FY25, Paytm has now fully exited guarantee-backed lending, citing partner preference, confidence in merchant loan performance, and a strategic shift to an asset-light, risk-free model.
BUSINESS
Paytm Q1 preview: Profit test for the turnaround stock of the year
Paytm is expected to post its first-ever quarterly profit on a revenue of Rs 1,910 crore, according to JM Financial. Analysts say lending traction and cost cuts may drive the turnaround, though revenue growth is likely to remain flat sequentially
BUSINESS
PayU India expects Ebitda breakeven in FY26, bets on merchant lending for credit turnaround: Group CFO
PayU India hope to stablise margins, with credit business expected to breakeven in Q2 on the back of merchant lending, Arvind Agarwal tells Moneycontrol, as he shares how payments and credit businesses are faring after a turbulent period
BUSINESS
Can’t afford to buy a share? Well, here’s a slice of it, says Bangalore-based fintech startup
A Bangalore-based fintech is testing tokenised fractional stock ownership with SEBI’s approval, allowing investors to legally own slices of high-value shares
BUSINESS
Tiger Global-backed Plum rolls out healthcare arm with Rs 200 cr investment, looks beyond insurance broking
The Tiger Global-backed company, which turned its insurance operations Ebitda-positive in the second half of FY25, is setting up a dedicated vertical--Plum Health--to offer diagnostics, teleconsultations, and AI-powered health tracking to working professionals across India.
BUSINESS
The lender with zero net NPA: How SIDBI clocked Rs 4,811 crore profit on Rs 4.96 lakh crore loan book in FY25
Over 91% of SIDBI’s Rs 4.96 lakh crore loan book is through banks and NBFCs, helping it post Rs 4,811 crore profit in FY25 with zero net NPAs. Despite growing profits and income, rising borrowing costs squeezed margins, but low risks kept returns stable.
BUSINESS
Bizongo founders, top investors face EOW complaint over alleged Rs 124 crore fraud
The complaint, dated June 26 filed by invoice marketplace TradeCred, alleges that customer payments were diverted from escrow, with key investor representatives aware of repayment delays; Bizongo, however, denied wrongdoing, saying that the dues are being repaid
BUSINESS
Study abroad platform Leap eyes M&A in undergrad, upskilling segments; turns Ebitda positive
As the UK, US, and Australia impose stricter admission and visa rules for international students, Leap is witnessing strong growth in alternative corridors like Germany, Ireland, New Zealand, and the UAE, with Dubai searches alone rising 30–40% month-on-month.
BUSINESS
Pine Labs reports Rs 310 crore GST exposure in DRHP, appeals pending
The fintech unicorn is contesting multiple tax demands, including a Rs 214 crore GST order and a separate GST audit claim, even as ED scrutiny and older service tax disputes remain unresolved.
BUSINESS
From CEO to CTO: Here's what Pine Labs brass earns and the IPO windfall that awaits them
CEO Amrish Rau is set to draw Rs 5.8 crore annually and received a Rs 3.76 crore bonus in FY25; he also holds equity and stock options worth up to Rs 1,000 crore
BUSINESS
EMIs for Botox and Fillers: Fintechs tap into India's cosmetic lending boom with easy loans
From Botox to hair transplant, fintechs like Fibe, SaveIN, QubeHealth, and Arogya Finance are turning India’s cosmetic care market into a click-and-credit playground with easy EMIs, checkout financing, partner clinics, and corporate tie-ups to drive the makeover.
BUSINESS
Udaan builds payment system to cut external dependence, secures RBI nod for HIPL
Udaan, which lists Yes Bank as its official aggregator, is expected to gradually transition transaction flows to its in-house aggregator HIPL
BUSINESS
Scam alert: Google flags 4.1 crore transactions on GPay, blocks 60 million risky app installs
The US tech major said it is partnering with IIT-Madras to to build smarter privacy protections and secure digital interactions for the future
BUSINESS
Bad loan sale, credit shock push Kinara Capital into Rs 351-crore loss, trigger audit red flag
The Nuveen-backed MSME lender sold stressed assets to an ARC at a steep loss in FY25 amid rising covenant breaches and credit stress
TECHNOLOGY
"We woke up at 6 am as per your orders. Jai Hind": Digital surveillance and arrests push elderly Indians into isolation and financial distress
A retired couple’s ordeal reveals how technology and fear are being used to quietly loot the life savings of India's senior citizens.
BUSINESS
Exclusive: OfBusiness to pick up stake in Bengaluru-based apparel exporter Indian Designs in fifth deal ahead of IPO
The deal, which is still in process, is expected to strengthen OfBusiness’s presence in the apparel manufacturing space ahead of its planned $1 billion IPO. The investment follows the company’s recent acquisition of Kerala-based Elixir Extracts.
BUSINESS
Wealthtech platform Stable Money raises $20 million in Series B; pilots mutual funds, loan against FDs
The round, coming less than a year after its $15 million Series A, was led by Nandan Nilekani’s Fundamentum Partnership, with participation from existing investors Z47, RTP Global, Lightspeed, and new backer Aditya Birla Ventures.
BUSINESS
RBI embraces AI to tackle fraud and enhance efficiency
Like every other major institution, the RBI has taken firm steps to deploy and use AI tools with a view to optimising efficiency and effectiveness in its functioning across various departments, and with specific focus on tackling financial fraud and ensuring customer safety
BUSINESS
Good Glamm weighs Organic Harvest sale back to founders; lenders tap ex-KPMG COO to monitor finances
With several lenders exposed, Vaidyanathan was appointed as a neutral monitor to oversee fund flows, tighten disbursements, and ensure no payouts happen without lender oversight.
BUSINESS
Zerodha set to invest up to Rs 125 crore in NBFC arm as loan book tops Rs 400 crore
The secured lending business (Loan against Securities), which began active retail operations in 2021 via NBFC Zerodha Capital, posted a revenue of Rs 36 crore, with a profit of Rs 12.25 crore in FY25, up from Rs 7.2 crore a year ago. The firm declined to comment on the latest capital infusion.
BUSINESS
Unacademy founders Gaurav Munjal, Roman Saini to step down, in talks to spin off Airlearn as new venture
Munjal, who has been contemplating stepping away since last year, is said to have formally communicated his intent to the board in March this year.
BUSINESS
Mensa Brands in talks to raise Rs 220–250 crore pre-IPO bridge round, ropes in OLX India CFO
The Tiger Global and Accel-backed firm, which claims to have turned cash flow positive, has also roped in a new Chief Financial Officer (CFO) Akshay Jain from OLX India, replacing its outgoing finance chief and founding member Vinay Juluri, per sources.
STARTUP
Byju’s app taken off Play Store, services disrupted amid AWS payment issues
Byju’s cloud service suspension affects app functionality, blocks access to paid content, and limits full website availability across platforms
