Ajinkya Kawale
 "Ajinkya Kawale")
Ajinkya Kawale
Ajinkya Kawale works as a correspondent for Business Standard, specialising in the emerging fintech industry in India. In addition to his assigned beats, he has had the opportunity to cover agrarian distress in Maharashtra and political developments during the Lok Sabha election season. He holds a postgraduate degree in multimedia journalism from Christ University in Bengaluru. He is passionate about India's infotainment space on YouTube and other OTT platforms. His favourite sections in a library are non-fiction and biographies.
Ajinkya Kawale works as a correspondent for Business Standard, specialising in the emerging fintech industry in India. In addition to his assigned beats, he has had the opportunity to cover agrarian distress in Maharashtra and political developments during the Lok Sabha election season. He holds a postgraduate degree in multimedia journalism from Christ University in Bengaluru. He is passionate about India's infotainment space on YouTube and other OTT platforms. His favourite sections in a library are non-fiction and biographies.
Page 13 - Ajinkya Kawale
UPI's contribution to payments ecosystem volume grows to 83.4% in FY25
UPI recorded 185.8 billion transactions in FY25, up 41.7% from FY24, with India's digital payments now accounting for 99.9% of non-cash retail payments, according to RBI data
 "UPI's contribution to payments ecosystem volume grows to 83.4% in FY25")
Fintech firm Razorpay completes reverse flip from US to India ahead of IPO
Fintech firm Razorpay has moved its parent company's domicile from the US to India as it gears up for an IPO, joining the growing trend of Indian startups relocating home
 "Fintech firm Razorpay completes reverse flip from US to India ahead of IPO")
Tech service providers leverage financial sector expertise for new biz
TSPs have long been associated with the transformation of the financial services industry; now, they are using that domain knowledge to help digital commerce and startups hire the right people
 "Tech service providers leverage financial sector expertise for new biz")
Govt nominees in Payments Regulatory Board may help bridge RBI-FinMin gap
The top priorities for the new board could include decisions on how Unified Payments Interface (UPI) is incentivised in the future
 "Govt nominees in Payments Regulatory Board may help bridge RBI-FinMin gap")
Nazara Tech posts Rs 4 cr in profit, 95% jump in revenue from ops in Q4
Nazara Technologies posted ₹4.07 crore Q4 profit with 95% YoY revenue growth, but annual profit declined due to higher expenses and loss from discontinued ops
 "Nazara Tech posts Rs 4 cr in profit, 95% jump in revenue from ops in Q4")
PayU rolls out MCP server to integrate AI assistants, payment systems
The MCP server helps AI assistants like Claude integrate with PayU's core APIs to automate tasks like invoicing, payment status checks, and customer onboarding
 "PayU rolls out MCP server to integrate AI assistants, payment systems")
Airtel Payments Bank to list by September 2027, says CEO Anubrata Biswas
The payments bank, which crossed the milestone in September last year, is required to go public within three years from that date
 "Airtel Payments Bank to list by September 2027, says CEO Anubrata Biswas")
NPCI steps up UPI vigil to prevent future disruptions in core network
Outlines operational guidelines for 10 APIs linked to UPI
 "NPCI steps up UPI vigil to prevent future disruptions in core network")
RBI eyes interest rate relief for borrowers with co-lending rules
Message conveyed at meet between RBI officials & fintechs
 "RBI eyes interest rate relief for borrowers with co-lending rules")
Govt to have a say in new payments regulatory board with a significant role
RBI governor, as chair of the board, will have casting vote
 "Govt to have a say in new payments regulatory board with a significant role")
Flipkart-backed super.money eyes neo-bank play in India's fintech race
With 175 million UPI transactions, super.money eyes top 5 neo-bank spot by expanding into credit, wealth and insurance while maintaining cashback-led engagement
 "Flipkart-backed super.money eyes neo-bank play in India's fintech race")
Nazara continues acquisition spree as it buys UK-based firm for ₹247 cr
Nazara acquires UK's Curve Games to expand global publishing and IP portfolio as part of an ongoing M&A strategy across interactive gaming and esports
 "Nazara continues acquisition spree as it buys UK-based firm for ₹247 cr")
CloudSEK raises $19 million for AI-led innovation, global expansion
CloudSEK secures funding from Indian and US investors to boost AI capabilities and expand internationally, with the US emerging as its fastest-growing revenue region
 "CloudSEK raises $19 million for AI-led innovation, global expansion")
Q4 results: MobiKwik suffers Rs 56.03 cr loss, ops revenue up marginally
For the full FY25, the Gurugram-based company recorded a loss of Rs 121.5 crore
 "Q4 results: MobiKwik suffers Rs 56.03 cr loss, ops revenue up marginally")
Groww to acquire PayU-backed Fisdom in $150 mn wealth management push
Groww to acquire Fisdom for $150 million as part of its wealth management expansion; the IPO-bound firm also plans to raise funds from Singapore-based GIC
 "Groww to acquire PayU-backed Fisdom in $150 mn wealth management push")
Fintechs push AI, new protocol to simplify backend tools for merchants
Cashfree and Razorpay use AI agents and a new protocol to simplify backend systems and automate payments, easing merchant operations across fintech platforms
 "Fintechs push AI, new protocol to simplify backend tools for merchants")
Gameskraft to pause Pocket52 poker operations from May 30 for review
Gameskraft will suspend its online poker platform Pocket52 from May 30, citing a need to reassess long-term strategy, amid industry pressure from the 28% GST regime
 "Gameskraft to pause Pocket52 poker operations from May 30 for review")
PayU gets final RBI approval to operate as online payment aggregator
Prosus-backed PayU receives final RBI approval to act as an online payment aggregator over a year after in-principle clearance and corporate restructuring
BillDesk's M N Srinivasu appointed IAMAI chairperson for two-year term
M N Srinivasu succeeds Dream Sports CEO Harsh Jain as IAMAI chairperson, while fintech leaders from Razorpay and PhonePe take vice-chairman and treasurer roles
 "BillDesk's M N Srinivasu appointed IAMAI chairperson for two-year term")
PhonePe suffers UPI outage after conducting disaster recovery drills
PhonePe's UPI services went down for over an hour on Monday evening as peak traffic exposed a network capacity shortfall during cybersecurity preparedness drills
 "PhonePe suffers UPI outage after conducting disaster recovery drills")
