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CRED founder Kunal Shah is stepping down as CEO to lead WhatsApp, as Meta anchors a $900 million Series H round valuing CRED at $4.5 billion. Meta takes a minority stake with no access to CRED's customer data, while Miten Sampat steps in as interim CEO.
CRED founder Kunal Shah will lead WhatsApp globally at Meta, which is simultaneously investing $900 million in CRED for a 20% stake at a $4.5 billion valuation. Miten Sampat becomes CRED's interim CEO as the company operates its first profitable year with a fresh RBI payment aggregator licence.
Coinbase has relaunched in India with direct INR trading via IMPS bank transfers, ending a two-year absence after securing its Financial Intelligence Unit licence in March 2024.
UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.
The RBI has formally cancelled Paytm Payments Bank's licence, concluding an enforcement process that began in 2022. The Paytm app and its payment services operate under a separate licence and remain unaffected, while depositors and wallet holders will be repaid.
UPI processed 24,162 crore transactions worth ₹314 lakh crore in FY26, setting a new record for India's digital payments network. The scale reinforces UPI's role as the core of retail finance and supports broader goals around financial inclusion and formal economic activity. The government has signaled continued focus
Jio Financial Services reported Q4 FY26 net profit of ₹272.2 Cr, down 14% year-on-year despite operating revenue surging 107% YoY to ₹1,018.5 Cr. Total expenses spiked 327% YoY to ₹720 Cr, compressing margins even as top-line scale accelerated. Sequential PAT rose marginally by 1%, indicating some stabilization at the
Groww reported Rs 686 crore in net profit for Q4 FY26, more than doubling year-on-year, as revenue from operations jumped 88% to Rs 1,505 crore. The results reinforce Groww's position as one of India's most profitable fintech platforms amid a retail investing boom. Financials were sourced from NSE filings; further
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CRED founder Kunal Shah is stepping down as CEO to lead WhatsApp, as Meta anchors a $900 million Series H round valuing CRED at $4.5 billion. Meta takes a minority stake with no access to CRED's customer data, while Miten Sampat steps in as interim CEO.
7d ago · 3 min · Business
CRED founder Kunal Shah will lead WhatsApp globally at Meta, which is simultaneously investing $900 million in CRED for a 20% stake at a $4.5 billion valuation. Miten Sampat becomes CRED's interim CEO as the company operates its first profitable year with a fresh RBI payment aggregator licence.
7d ago · 4 min · Business
Coinbase has relaunched in India with direct INR trading via IMPS bank transfers, ending a two-year absence after securing its Financial Intelligence Unit licence in March 2024.
24d ago · 3 min · Markets
UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.
29d ago · 3 min · Markets
The RBI has formally cancelled Paytm Payments Bank's licence, concluding an enforcement process that began in 2022. The Paytm app and its payment services operate under a separate licence and remain unaffected, while depositors and wallet holders will be repaid.
1mo ago · 2 min · Business
UPI processed 24,162 crore transactions worth ₹314 lakh crore in FY26, setting a new record for India's digital payments network. The scale reinforces UPI's role as the core of retail finance and supports broader goals around financial inclusion and formal economic activity. The government has signaled continued focus
2mo ago · 1 min · Economy
Jio Financial Services reported Q4 FY26 net profit of ₹272.2 Cr, down 14% year-on-year despite operating revenue surging 107% YoY to ₹1,018.5 Cr. Total expenses spiked 327% YoY to ₹720 Cr, compressing margins even as top-line scale accelerated. Sequential PAT rose marginally by 1%, indicating some stabilization at the
2mo ago · 1 min · Business
Groww reported Rs 686 crore in net profit for Q4 FY26, more than doubling year-on-year, as revenue from operations jumped 88% to Rs 1,505 crore. The results reinforce Groww's position as one of India's most profitable fintech platforms amid a retail investing boom. Financials were sourced from NSE filings; further
2mo ago · 1 min · Business
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