'Our focus would be to onboard top 100 merchants in top 10 different segments.'
As India's biggest Unified Payments Interface (UPI) app PhonePe prepares to list, the updated draft red herring prospectus (DRHP) shows the impact of regulations on the business, and concentration of payments-linked revenue even as UPI lacks MDR (merchant discount rate).
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Gurugram police have arrested five individuals in connection with a Rs 42.92 lakh digital arrest scam. The fraudsters posed as CBI officers, intimidated a victim, and coerced them into transferring a large sum of money. The arrested individuals include account holders and those who withdrew the defrauded cash.
Fintech giant Paytm reports a consolidated profit of Rs 183 crore in Q4 FY26, marking a significant turnaround driven by its core payments business, growth in loans, and consumer-side profitability. The company is also prioritising investments in AI and has ruled out applying for an NBFC licence.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
The State Election Commission (SEC) has barred the Maharashtra government from releasing the January instalment of the 'Ladki Bahin' scheme in advance, citing the enforcement of the model code of conduct for municipal elections. The decision follows complaints about the timing of the release, coinciding with upcoming municipal elections.
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
RBI Governor Sanjay Malhotra stated that the central bank is closely monitoring whether the supply shock from the West Asia conflict will lead to a generalised price rise, potentially necessitating monetary policy action.
The Enforcement Directorate (ED) has attached properties worth Rs 1.06 crore in connection with the 'Global Media App' fraud, an online earning platform that allegedly generated over Rs 45 crore through illicit means.
Unified Payments Interface (UPI) transaction value and volume saw a slight month-on-month dip in April after record highs in March, but daily transaction volumes increased, indicating sustained growth in digital payments across India.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
The United States and Iran have reached an agreement in principle to immediately and permanently halt all military operations, lift sanctions, and work towards a comprehensive final agreement within 60 days, including a significant reconstruction package for Iran.
The CBSE reported that its re-evaluation portal faced a series of cyberattacks, including a denial-of-service attack, while students accessed the platform for verification and re-evaluation of answer books.
A Delhi court granted bail to a former accounts officer accused of swindling more than 2 lakh Swiss francs from India's Permanent Mission in Geneva to fund his crypto-gambling ventures.
India's market regulator, Sebi, has approved the re-introduction of open-market share buybacks through stock exchanges, effective August 1, 2026, alongside easing debt listing norms for RBI-regulated entities and simplifying rules for mutual funds and alternative investment funds.
The Central Bureau of Investigation (CBI) conducted searches at seven premises linked to Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, in connection with a fraud case involving thousands of crores of rupees.
Gujarat police have uncovered cyber frauds worth Rs 2,289 crore and arrested 638 individuals as part of 'Operation Mule Account 1.0', a state-wide crackdown on online criminals launched in 2025.
Police in Lucknow have arrested four people for allegedly using ChatGPT and graphic design software to create and sell fake IPL tickets outside the Ekana Stadium.
Foreign Portfolio Investors (FPIs) have withdrawn nearly Rs 43,000 crore from Indian equities in the first week of June, contributing to a total outflow of Rs 2.67 lakh crore in 2026, driven by a global shift towards technology and AI-linked opportunities and persistent rupee depreciation.
The CBI has registered a corruption case against Rajni Kant Agrawal, the former chairman-cum-managing director of Water and Power Consultancy Services (WAPCOS), following a complaint from the Ministry of Jal Shakti.
A Delhi court has convicted Congress MLA Rajendra Bharti and a former bank employee in a case involving cheating and forgery of bank records to illegally obtain interest payments.
Grandmaster Abhijeet Gupta, frustrated by delays in receiving prize money for winning the Odisha Open, has been assured by the All India Chess Federation that the issue will be resolved and his dues cleared.
Amid the buzz over a split in the ranks of Lok Sabha MPs of Shiv Sena-Uddhav Balasaheb Thackeray through "Operation Tiger", Maharashtra Chief Minister Devendra Fadnavis on Sunday said the "operation" has been successful. His deputy and Shiv Sena president Eknath Shinde said he never leaves an operation incomplete.
Unified Payments Interface (UPI) transactions in India reached a record high in March, with 22.64 billion transactions, marking a significant increase from the previous year and highlighting the growing adoption of digital payments.
Dark patterns are no longer just a consumer protection concern, but a broader macroeconomic challenge affecting the long-term sustainability of India's digital commerce ecosystem.
Unified Payments Interface (UPI) transactions in India reached a record high in March, driven by increased adoption and global expansion. The system now accounts for 85% of digital transactions in India and is live in eight countries.
The CBI conducted searches at 17 premises in Mumbai related to Reliance ADA Group companies, including Reliance Telecom and Reliance Finance, concerning alleged diversion of bank funds and losses to banks and LIC.
Two cyber fraudsters have been arrested for allegedly defrauding a resident of East Delhi of over 20,000 by posing as electricity officials.
More than five lakh aspirants will take the exam on January 7 and 8, 2017.
The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
A builder and two others were allegedly duped of 18.19 lakh by two individuals in Thane, Maharashtra, who promised to secure business loans for them.
Delhi Police have arrested 11 individuals, including two alleged masterminds, after uncovering a fraudulent call centre in Govindpuri, South Delhi. The operation, known as Herbitecture Healthcare, reportedly deceived people nationwide by promoting weight-loss products on social media and enticing customers into making repeated payments.
A Delhi court granted bail to a former accounts officer accused of swindling more than 2 lakh Swiss francs from India's Permanent Mission in Geneva to fund his crypto-gambling ventures.
The Centre has announced that the Viksit Bharat -- Guarantee for Rozgar and Ajeevika Mission (Gramin) Act will come into force across the country from July 1, replacing the Mahatma Gandhi National Rural Employment Guarantee Act.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
'Exploration should be made easier and companies should be given operational flexibility.'
As deposit growth lags credit expansion, Indian banks face shrinking low-cost Casa inflows, rising funding costs, and structural shifts driven by UPI, e-Kuber, and digital savings trends, points out Tamal Bandyopadhyay.
