Page 38 - Ajinkya Kawale

Credit-on-UPI fintech Kiwi rooted in upheavals in economy, co-founder says

Demonetisation and the pandemic drove India's digital transformation in financial services. Companies built unique use cases around UPI

NPCI extends market cap deadline for UPI apps by two years to end of 2026

Apex payments body also relaxes user onboarding limits for WhatsApp Pay, enabling messaging firm to onboard all of its India users

TCS, Infosys, Wipro on edge as H-1B changes loom with Trump's return

This may have an impact on India's $250 billion tech sector which plays an important role in the economy, employing about 5.4 million people

Crypto assets can negatively impact financial stability, says RBI report

The banking regulator emphasised the potential consequences of the widespread adoption of crypto-assets and stablecoins on an economy

RBI proposes lookup facility for NEFT, RTGS; banks to comply by April 1

This facility will allow users to view and verify the name of the beneficiary before initiating a transaction, similar to the existing feature on India's real-time payment systems

Mswipe's payment business turns profitable, FY24 revenues grow 6%

In FY24, payments revenue grows 6.25% to Rs 275 crore; total payment value more than doubles to Rs 50,417 crore

Navi Mumbai airport set to begin commercial ops in May 2025: AAHL

The airport, which is currently under construction, will start international operations by July next year, said Arun Bansal, chief executive officer (CEO), AAHL

RBI allows interoperability between PPIs like wallets for UPI payments

Currently, UPI payments are interoperable such that a user can use any TPAP to transfer funds

Small ticket transactions drag avg retail payments value by 48% in 3 years

The increasing adoption of digital transactions is evident in the robust growth of India's real-time payments system, Unified Payments Interface (UPI)

Crypto wrap 2024: Bitcoin, altcoins remain popular among Indian investors

The recent Bitcoin rally in December saw the cryptocurrency surge past the $100,000 mark, drawing Indian investors to homegrown crypto exchanges

PPI wallets register 20% drop to 1.14 bn in November, says RBI data

But prepaid payment instrument cards grow on a smaller base

Indian businesses turn to data analytics, ML to fight fraudulent practices

A recent report from PwC found that Indian businesses report a much higher incident of financial crimes than their global peers

Fintech disbursements rise 21.3% in H1FY25, disbursal value grows 40%

Disbursals were also higher by 9.5 per cent from 51.5 million in H2FY24, according to data by the first self-regulatory organisation in fintechs

Oyo completes US-based G6 Hospitality acquisition for $525 million

The deal is expected to increase Oyo's earnings before interest, taxes, depreciation and amortisation (Ebitda) to over Rs 2,000 crore in FY26

Razorpay announces ESOPs of Rs 1 lakh each for over 3,000 employees

The payments fintech is currently in the process of reverse flipping from the United States (US) to India. The firm expects to complete the domicile shift sometime in 2025

B2B payments firm Infibeam Avenues to roll out RediffPay after NPCI nod

This is the first step in the company's foray into consumer facing businesses

Number of UPI apps grows in 2024, yet top two command maximum market share

In 2024, NPCI issued 20 third party application approvals. This was much higher than three and four issuances in 2022 and 2023 respectively

Indian technology startup scene in 2024: More unicorns, more exits

Technology startups raised $11.3 billion, a six per cent increase from $10.7 billion raised in 2023

India's tech funding grows 6%, number of deals falls 31.5% to 1,448 in 2024

Quick commerce platform Zepto led major funding rounds this year, raising a total of $1.35 billion

Mobikwik leads IPO debut with 90% surge; Vishal, Sai Life gain around 40%

These stellar debuts came despite the benchmark indices logging continuous declines since their initial public offerings (IPOs) closed on Friday