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fintech-india

India Bill Opens Path to UPI Merchant Fees

The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.

Paytm Profit Jumps 79% to Rs 220 Cr in Q1 FY27

Paytm reported a 79% year-on-year jump in net profit to Rs 220 crore for Q1 FY27, with operating revenue up 27% to Rs 2,448 crore. The results confirm sustained profitability after the company returned to the black in FY26 following regulatory setbacks.

Kunal Shah Leaves CRED to Lead WhatsApp

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.

Kunal Shah Leaves CRED to Lead WhatsApp at Meta

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.

UPI Hits Record 23.2 Billion Transactions in May

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.

RBI Cancels Paytm Payments Bank Licence

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 Sets Record: 24,162 Crore Transactions in FY26

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 Q4 PAT Falls 14% as Costs Surge 327%

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 Doubles Profit, Revenue Hits Rs 1,505 Cr

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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fintech-india

Paytm profit jumps to Rs 220 Cr in Q1 FY27

Paytm reported a 79% year-on-year jump in net profit to Rs 220 crore for Q1 FY27, with operating revenue up 27% to Rs 2,448 crore. The results confirm sustained profitability after the company returned to the black in FY26 following regulatory setbacks.

1mo ago · 3 min · Business

Kunal Shah steps down as CRED CEO to lead WhatsApp at Meta

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.

2mo ago · 4 min · Business

UPI crosses 23 Bn monthly transactions for the first time in May

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.

2mo ago · 3 min · Markets

UPI hits record scale: 24,162 crore transactions worth ₹314 lakh crore in FY26

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

3mo ago · 1 min · Economy

Jio Financial Services Q4: PAT Dips 14% YoY To ₹272 Cr, Revenue Zooms Over 2X

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

4mo ago · 1 min · Business

Groww reports Rs 686 Cr profit on Rs 1,500 Cr revenue in Q4 FY26

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

4mo ago · 1 min · Business

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