ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
Following a ban on real-money gaming, Dream Sports, the parent company of Dream11, is strategically expanding its portfolio across 11 companies, including a new venture into wealth management and stockbroking, with a focus on serving a mass user base through AI-first solutions, cofounder Harsh Jain confirmed.
Fintech platform Decentro has received final approval for a Payment Service Provider (PSP) licence from the IFSCA at GIFT City, enhancing its cross-border payment capabilities.
Global financial institutions, including Goldman Sachs and Citigroup, have invested Rs 963 crore in One 97 Communications (Paytm's parent company) through open market transactions, acquiring a 1.34 per cent stake from SAIF Partners and Elevation Capital.
A delegation of Indian startup founders and leaders visited the UK to explore collaborations in artificial intelligence and technology, aiming to strengthen the India-UK innovation corridor.
The Enforcement Directorate (ED) has arrested a real estate businessman in connection with the alleged embezzlement of Rs 645 crore from bank accounts linked to the Haryana government, Chandigarh administration, and private schools.
Bajaj Finserv announced a strategic initiative to invest up to Rs 2,000 crore in artificial intelligence and technology-led startups over the next five years, along with a collaboration with IIT-Bombay for joint research.
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.
Fintech giant PhonePe has announced it has surpassed 50 million registered merchants on its platform, marking a significant milestone as it expands its financial service offerings beyond QR code payments.
Shares of One97 Communications, which operates the Paytm brand, experienced a significant jump after the company reported a consolidated profit for the January-March quarter.
Fintech and enterprise technology firm Paramotor Digital Technology Ltd has confidentially filed draft papers with markets regulator Sebi for an initial public offering (IPO). The company submitted its draft papers under Sebi's pre-filing route, which allows issuers to keep details related to the issue size and other key information confidential until a later stage.
The Enforcement Directorate has arrested two former IDFC First Bank employees in connection with a money laundering case involving the alleged embezzlement of Rs 590 crore in Haryana government funds.
NIT Rourkela has announced the launch of four new academic programmes for the 2026-27 session, focusing on emerging technologies such as semiconductors, artificial intelligence, and quantum technologies.
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
Direct plans of mutual fund schemes added nearly 21 million individual investor folios in FY26 (as of February), surpassing regular plans' 15 million net additions, marking only the second time direct plans have outpaced regular plans in annual folio growth, despite turbulent equity markets.
The Unique Identification Authority of India (UIDAI) has announced that nearly 100 entities have been onboarded as offline verification seeking entities (OVSEs), marking a significant step in enabling secure, consent-based, and paperless verification through the Aadhaar offline mechanism.
Paytm, operated by One97 Communications, is not actively seeking a non-banking financial company (NBFC) licence, preferring partnership models for lending operations, according to its Group CFO.
Fintech giant One97 Communications, which operates Paytm, has decided against applying for a Non-Banking Financial Company (NBFC) licence, favouring its existing partnership model.
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
Fintech company Pine Labs has acquired Shopflo, an online checkout optimisation platform, for Rs 88 crore in an all-cash deal aimed at providing a unified commerce platform for merchants.
Paytm (One 97 Communications Ltd) has stated that the Reserve Bank of India's action on Paytm Payments Bank Ltd (PPBL) has no financial or business impact on the company. The fintech firm clarified it has no material business arrangements or exposure with the banking entity, which operates independently.
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
Finance Minister Nirmala Sitharaman on Tuesday launched the foreign currency settlement system in GIFT IFSC, which will facilitate seamless transactions on real-time basis, enhance liquidity management, and ensure compliance.
One 97 Communications Ltd, operating under the Paytm brand, has transitioned to a majority Indian-owned and controlled company, reflecting increased domestic investor confidence and improved financial performance.
Infrastructure major Larsen & Toubro (L&T) reported a 3 per cent year-on-year decline in consolidated net profit for Q4 FY26, reaching 5,325.60 crore, primarily due to exceptional gains in the previous year. Despite this, the company's consolidated order book surged by 28 per cent to 7.4 trillion, with international orders accounting for 52 per cent.
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.
Infosys co-founder Kris Gopalakrishnan urges Indian startups to focus on deep technology and advanced manufacturing to ensure strategic autonomy.
Bernstein brokerage firm maintains 'Outperform' rating for Paytm, stating the PPBL licence cancellation will not impact Paytm's business and may open new regulatory opportunities.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank, citing that the bank's affairs were conducted in a manner detrimental to the interests of the bank and its depositors, and its management was prejudicial to public interest.
Despite geopolitical tensions and FII outflows, Indian small and midcap stocks have not only recovered losses but are also outperforming largecap indices, driven by attractive valuations, domestic institutional support, and a rebound in earnings.
Finance Minister Nirmala Sitharaman met with bank heads to discuss the risks associated with Artificial Intelligence (AI) following global concerns about Anthropic's Mythos model and its potential threat to financial systems' data security.
In modern investing, transparency is more valuable than zero fees and not all investing app score big on this front, says Ramalingam Kalirajan.
Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion. Speaking at the annual Global Fintech Fest in Mumbai, Malhotra accepted that serving the "privileged" will be a lucrative business, but urged the smaller companies to focus on the underserved.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
Global brokerage Bernstein has issued a cautionary note, stating that India risks 'under-delivering on its potential' unless it addresses key policy bottlenecks and structural risks, including employment challenges from AI, limited manufacturing gains, and rising welfare spending.
Info Edge (India) shares fell 2.9 per cent after the company reported muted growth in recruitment billings for Q4 FY26, leading brokerages to expect impacted operating performance and potential margin contraction.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances