PAYMENT MARKET

RBI's BoP data shows a $5.7 billion surplus for March 2024, driven by service exports and $107 billion remittances. It reverses an $8.7 billion deficit. Fiscal year's deficit is $23.3 billion. Merchandise trade deficit narrowed. Despite the surplus,...

The Indian equity market witnessed a positive week as both the Nifty 50 and Bank Nifty indices ended in the green. The Nifty 50 gained 1.3% to close at 24,323, while the Bank Nifty rallied 0.61% to settle at 52,660.

Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.

​Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as settlement charges.

A total of 86,036 shares changed hands on the counter till 01:19PM (IST).

Based on average market capitalization from January to June 2024, seven stocks are poised to join the large-cap category. The list includes two-wheeler giant Hero MotoCorp, state-run companies BHEL and NHPC, along with Zydus Lifesciences, JSW Energy...

CAMS looking to now expand into education as one potential, extra niche that could scale up the business. They are moving forward to be both a payment aggregator and payment gateway and there will be some build-out of opportunity in the education sp...

India is emerging as the most attractive consumer market globally, with consumption trends merging with large cities. The services sector is expected to drive strong economic growth, and India is poised to be a global hotspot for economic growth. Ma...

SBI Chairman Dinesh Kumar Khara stated that the bank plans to wait for its subsidiaries like SBI General Insurance and SBI Payment to enhance their operations before considering monetisation through the capital market to boost valuation and returns ...

Paytm Payments Bank lost market share in Fastag toll payments, now taken by commercial banks post regulatory action. Market share dropped to 2% in May from 16% in January, as per NPCI data.

SBI Cards and Payment Services Ltd. key Products/Revenue Segments include Fees & Commission Income, Interest, Other Services, Sale of services and Commission for the year ending 31-Mar-2023.

RBI uses forex tools to inject cash into banking system ahead of large outflows due to advance tax payments, keeping borrowing costs low and increasing reserves without impacting inflation-fighting stance.

Fino Payments Bank sees an opportunity in the digital banking space after Paytm Payments Bank's exit. To capitalise on this, they're ramping up their digital offerings, aiming to grow their digital revenue share from 5-6% in FY24 to 15% this fiscal ...

In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting da...

RBI governor Shaktinata Das mentioned that downtime in the UPI payment system is primarily due to weak technology on the banks' side rather than issues from NPCI. The volume of UPI transactions per day exceeds 450 million, with several instances of ...

Mutual fund investors faced disappointment as a technical glitch led to delayed NAV allotment amid a stock market crash. Many investors demanded compensation for losses incurred due to the glitch.

After RBI restricted Paytm Payments Bank, the UPI transactions on the Paytm app fell. This is the first month the fall has been arrested since February. In terms of the share of UPI payments by volume, Paytm stood at around 8.1% in May — almost at t...

The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions reco...

The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at...