TVS Venu Group has agreed to acquire a minority stake of up to 9.9 per cent in Jana Small Finance Bank, including a 4.9 per cent ownership by TVS Motor Company, through a combination of primary issuance of warrants and a secondary purchase.
Bharti Airtel is strategically shifting its focus towards data centres, cloud services, and financial services as key drivers for its next phase of growth, leveraging significant past investments in digital infrastructure, as outlined by Chairman Sunil Mittal in the company's Annual Report for 2025-26.
A BofA Global Research report indicates that Paytm is leading in monetisation compared to its competitors due to its diversified mix of merchant lending and financial services, which enhances profitability and strengthens its position in the Indian fintech market.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
Morgan Stanley has upgraded One 97 Communications Ltd (Paytm) to Overweight, significantly raising its price target to Rs 1,950. This upgrade is driven by expectations of stronger execution in payments and financial services, leading to faster growth and improved profitability. The brokerage anticipates substantial revenue and EBITDA growth, further bolstered by potential changes to the UPI merchant discount rate framework.
Perhaps we spend too much time planning how to become financially free and too little asking what we want to be free for, notes Harsh Roongta.
Commerce Secretary Rajesh Agarwal highlighted the critical need for India to diversify its services exports beyond the dominant IT/ITeS and professional services sectors. Speaking at the Global Fintech Fest 2026, he emphasised the vast potential in the global financial services market, where India currently holds a small share, and stressed how fintech solutions, like UPI, can drive growth, reduce remittance costs, and support MSME trade finance, ultimately leading to sustainable economic expansion.
Global brokerage Goldman Sachs has maintained its 'Buy' rating on Paytm, revising its 12-month price target to Rs 2,010. The brokerage anticipates a valuation re-rating for the fintech company, driven by sustained revenue growth, expanding margins, and continuous market share gains, particularly in consumer payments and financial services. Despite flagging higher device capital expenditure, Goldman Sachs remains positive on Paytm's underlying business momentum and future earnings potential.
Paytm's current business model is already profitable, with the potential UPI merchant discount rate (MDR) framework expected to offer additional revenue rather than being the primary driver of its profitability. This assessment is supported by the company's Q2 FY27 earnings and analyses from global brokerages like JP Morgan, Goldman Sachs, and Bernstein, which highlight the strength of its merchant-led platform and financial services.
Police in Latur, Maharashtra, have registered a case against officials of four credit firms, including Equitas Bank and Shriram Finance, after a farm labourer allegedly died by suicide due to harassment over loan repayment. The man, Dattatraya Suryakant Kumbhar, was found hanging on Monday.
One 97 Communications Ltd, operating Paytm, reported a significant 10-fold increase in profit after tax to Rs 225 crore in Q2 FY27, marking its sixth consecutive profitable quarter. The company also saw a 28% rise in operating revenue to Rs 2,648 crore, driven by strong performance in merchant and consumer businesses, expanded monetisation, and AI adoption. Paytm's EBITDA margin reached double digits for the first time, reflecting enhanced operating profitability.
Indian equity benchmark indices extended losses for a second consecutive session, with the Sensex dropping 143 points, driven by a sell-off in power, banking, and financial stocks, coupled with elevated crude oil prices and persistent FII selling.
A 70-year-old man from Bhiwandi was defrauded of Rs 1.29 crore by cyber criminals who lured him with promises of high returns on share investments through a WhatsApp group and a fake trading app. He lost his money after being unable to withdraw funds and being asked for more deposits, leading him to file a police complaint.
The Sports Ministry has revised its Scheme of Assistance to National Sports Federations (ANSF), significantly increasing financial support for organising international events in India, with up to Rs 50 crore available. The new guidelines also maintain funding for National Championships, introduce assistance for National Games, and outline plans for Olympic Training Centres, aligning with India's 2036 Olympic bid and 2030 Commonwealth Games aspirations.
Nandan Nilekani, co-founder of Infosys, has urged for the expanded adoption of the Account Aggregator (AA) framework to facilitate formal credit access for self-employed individuals and gig workers. He highlighted its potential to enable cash-flow-based lending by leveraging diverse data streams, moving beyond traditional asset-based lending, and fostering a more inclusive digital financial infrastructure in India.
IT services firm Tech Mahindra has announced a collaboration with AI coding platform SpaceXSI to help global enterprises modernise legacy applications, accelerate software delivery, and improve developer productivity through AI-assisted engineering across the software lifecycle. The partnership aims to embed AI intelligence across the software development lifecycle for better business outcomes, focusing on sectors like technology, telecommunications, and banking.
Foreign portfolio investors (FPIs) significantly increased their buying in Indian equities during the first half of August, with financial services attracting the largest inflows, reversing previous outflows. The IT sector also continued to see strong interest from overseas investors, driven by a reassessment of valuations and the role of Indian IT firms in AI deployment.
They had bought Rs 29,631 crore worth of shares in August.
Delhi Police has arrested three men for operating an inter-state cyber fraud syndicate that targeted individuals, particularly in Tamil Nadu, by promising personal loans, insurance policies, and employment opportunities. The accused collected advance fees without delivering services, leading to a police investigation and arrests.
Canadian billionaire Prem Watsa's Fairfax Financial Holdings will utilise the expertise of Deepak Parekh and Paresh Sukthankar, former HDFC leaders, as it moves to acquire a 60.72 per cent stake in IDBI Bank for 52,878 crore, with N S Kannan proposed as chairman.
'We see a lot of cases of bank deposits getting lost, especially when people die, so this will help address that because you have one consolidated view.'
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu congratulated the State Cooperative Bank on successfully migrating its core banking system to the 'Finacle 10.2.25' platform. This upgrade aims to provide faster, more transparent, and secure financial services, enhancing customer experience and operational efficiency across its 262 branches.
Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, is poised to launch India's largest-ever initial public offering (IPO) at Rs 30,213 crore, surpassing Hyundai Motor India's Rs 27,870-crore offering.
India is actively integrating payment system harmonisation into its Free Trade Agreement (FTA) negotiations, especially with countries hosting a large Indian diaspora. This strategy aims to leverage India's growing fintech ecosystem, facilitate cross-border financial services, and position India as a global hub for financial services exports, particularly through platforms like GIFT City.
African digital financial services platform, Airtel Money, has successfully debuted on the London Stock Exchange, marking the exchange's largest initial public offering (IPO) in several years with an implied market capitalisation of about USD 7 billion.
Indian benchmark indices, Sensex and Nifty, closed lower on Tuesday, with the Sensex declining 329.91 points to 74,529.08 and the Nifty dipping 85.30 points to 23,329, primarily dragged by underperformance in IT, financial, and capital goods stocks despite positive global market trends and easing crude oil prices.
Life Insurance Corporation of India (LIC) is facing a thinning of its top management as Managing Director Dinesh Pant exits to join Irdai, leaving one of four MD posts vacant. This comes amidst broader staffing challenges across several public sector insurers and a headless Financial Services Institutions Bureau (FSIB).
Reserve Bank of India (RBI) Deputy Governor Rohit Jain has warned that financial institutions' increasing reliance on a small number of common technology providers, including cloud and AI model providers, could create a new source of systemic risk. He highlighted 'speed, concentration and opacity' as key risks, noting that a disruption at one provider could rapidly spread across multiple institutions, amplifying existing financial risks.
India's services sector experienced its strongest growth in three months in September, with the HSBC India Services PMI Business Activity Index rising to 55.2, driven by a sharp increase in new orders and strengthening domestic demand.
Prime Minister Narendra Modi, speaking at the UPSC centenary, urged a fundamental shift in civil services recruitment and governance. He highlighted the need for services to adapt to an "instant-delivery world" powered by AI, focusing on citizen-centricity and evaluating candidates' motivation beyond academic knowledge. The PM also praised Captain Smit Machchhar's bravery during his address.
One 97 Communications Ltd, operating Paytm, is set to issue its first bonus shares, following a landmark year of achieving its maiden full-year profit and gaining significant market share. The board will meet on July 20 to decide on the bonus issue, reflecting confidence in its financial strength and aiming to improve stock accessibility for retail investors.
RBI Deputy Governor Poonam Gupta stated that India's economic growth momentum remains strong despite various global and domestic shocks, attributing this resilience to a diversified growth base and improved policy responses. She highlighted the economy's 7.8 per cent growth in Q1 and continued momentum into Q2, suggesting potential upgrades to growth forecasts.
The Karnataka CID is investigating alleged irregularities in the KPSC veterinary officer recruitment exam, questioning 40 candidates and arresting suspended IAS officer Gyanendra Kumar Gangwar. The probe has revealed financial links, with significant deposits traced to accounts connected to candidates and middlemen, and has frozen substantial amounts. The High Court has ordered a fresh probe by an SIT.
Indian stock markets are set to be influenced by a confluence of factors this week, including escalating geopolitical tensions, particularly concerns over US-Iran conflict, volatile crude oil prices, and the ongoing quarterly earnings season. Additionally, the US midterm elections, foreign investor activity, and key macroeconomic data releases will also be closely monitored by investors.
Bajaj Finserv, a leading Indian non-banking financial services company, has announced its support for 16-year-old Olympic swimmer Dhinidhi Desinghu. The company plans to invest in swimming, tennis, badminton, and running to foster emerging sports talent in India, aiming to elevate the sports landscape and careers of many athletes.
The Union finance ministry has constituted a high-level committee, chaired by former Central Vigilance Commissioner Suresh N Patel, to recommend structural, regulatory, and legislative reforms for India's banking sector, aiming to make banks globally competitive and support the financing needs of a developed economy.
Wipro reported a marginal 1.40 per cent decline in consolidated net profit to Rs 3,200.6 crore for the July-September quarter of FY27, despite a 9.1 per cent increase in revenue from operations to Rs 24,752.7 crore.
Helicopter operators have suspended Char Dham charter services in Uttarakhand, protesting a new mandatory co-pilot rule imposed by the Uttarakhand Civil Aviation Development Authority (UCADA). This decision, made after a fatal chopper crash on October 30, is deemed financially unviable by operators and is set to disrupt the final phase of the pilgrimage before the shrines close for winter.
Anup Saha, currently a Wholetime Director at Kotak Mahindra Bank, has been appointed as the new Managing Director and Chief Executive Officer for a three-year term, effective January 1, 2027, with the Reserve Bank of India's approval.
The Kerala Legislative Assembly has passed a motion urging the central government to completely withdraw the proposed Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. Chief Minister V D Satheesan and CPI MLA K Rajan highlighted concerns that the MDR would increase business costs, harm small businesses, and reduce the appeal of digital payments, while the BJP argued it would not affect general public or small merchants.
