Paytm’s Merchant-Led Model Proves Resilient as Company Achieves EBIT Breakeven: JP Morgan
Paytm’s focus on its merchant business, tighter cost controls and improving operating performance has helped the fintech company achieve EBIT breakeven, according to global brokerage JP Morgan. In its latest report, titled First Take: All-round beat, the brokerage maintained its Overweight rating on Paytm, with a price target of Rs 2,100. JP Morgan said Paytm’s […]
Smallest AI Appoints Siddharth Sharma as President of BFSI for India
Smallest AI, a San Francisco-based foundational AI research lab, has appointed Siddharth Sharma as President of Banking, Financial Services and Insurance (BFSI) for India. Sharma will lead revenue growth, partnerships and market expansion in the sector, working directly with co-founder and CEO Sudarshan Kamath. Announced on October 26, 2026, the appointment comes as Indian banks, […]
UPI Processes Nearly 80 Crore Transactions Daily, Says Nirmala Sitharaman
India’s Unified Payments Interface (UPI) has emerged as the world’s largest real-time payment system, processing nearly 80 crore transactions every day, Union Finance Minister Nirmala Sitharaman said on October 25. The platform now handles more than 2,400 crore transactions a month, highlighting the growing role of digital payments in the country’s financial ecosystem. Sitharaman made […]
RBI Inaugurates Fourth Data Centre in Bhubaneswar to Strengthen Financial System Resilience
The Reserve Bank of India (RBI) has inaugurated a new data centre and a cybersecurity training institute in Bhubaneswar, Odisha, to strengthen the country’s digital financial infrastructure and improve the reliability of critical financial services. The facilities were inaugurated by Prime Minister Narendra Modi on October 25, 2026, and are expected to support the uninterrupted […]
IIFL Capital Hires Four Senior Bankers from Barclays to Expand Wealth Management Business
IIFL Capital Services has hired four senior private banking professionals from Barclays as it looks to strengthen its wealth management business and expand its reach among affluent Indian families, business owners and non-resident Indians (NRIs). The appointments come amid intensifying competition among financial services firms to attract high-net-worth and ultra-high-net-worth clients. The four executives joining […]
Jammu and Kashmir Bank Raises Accident Insurance Cover to ₹1 Crore for Government Employees
Jammu and Kashmir Bank has increased the group personal accident insurance cover for permanent Jammu and Kashmir government employees from ₹25 lakh to ₹1 crore under a five-year agreement signed with the Union Territory administration. The agreement, signed on October 23, 2026, also introduces additional insurance benefits, family assistance provisions and banking concessions for eligible […]
eMudhra to Exit SSL/TLS Certificate Business After Security Vulnerability
Digital authentication services company eMudhra has decided to voluntarily exit the global Secure Sockets Layer (SSL) and Transport Layer Security (TLS) certificate business following a security vulnerability involving weak cryptographic keys issued by some of its certification authorities. The decision comes after Apple, Google, Microsoft and Mozilla blocked eight eMudhra issuing certificate authorities (CAs) over […]
Catalyst Management Services Appoints Dr. Amit Gupta as CEO
Catalyst Management Services (CMS), a social impact advisory and enterprise, has appointed Dr. Amit Gupta as its Chief Executive Officer (CEO). The appointment marks a new phase for the organisation as it builds on its three-decade legacy of social impact and strengthens its focus on development solutions, systems change and scaling impact across India and […]
Karta AI Raises $3 Million in Seed Funding Led by PeerCapital and Cedar Hill Capital
Bengaluru-based voice AI startup Karta AI has raised $3 million in a seed funding round led by PeerCapital and Cedar Hill Capital, with participation from Wyser VC, CDM Capital and Seedstars. The startup plans to use the fresh capital to enhance its AI platform, expand deployments across financial institutions and strengthen its engineering and go-to-market […]
Jio Platforms IPO Subscribed 2.35 Times on Day One, Becomes Fastest-Ever in India to Reach Full Subscription
The ₹30,213-crore public offering attracted bids worth more than ₹50,000 crore, with institutional investors driving demand as Jio expands its ambitions in AI, cloud computing and digital services. Jio Platforms Ltd’s ₹30,213-crore initial public offering (IPO) witnessed a strong response on its opening day, attracting bids for 2.35 times the shares on offer by mid-afternoon […]
