Navi, the fintech company led by Sachin Bansal, has climbed to become India’s fourth-largest UPI player in October, overtaking CRED. According to data from the National Payments Corporation of India (NPCI), Navi recorded a significant increase in customer-initiated transactions, growing to 157.51 million in October from 120.41 million in September. Read more…
Tuesday saw a 10% decline in shares of One97 Communications, the parent company of Paytm, to a career low of Rs 380.15 on the National Stock Exchange following a reducing by brokerage Macquarie Capital Securities from “Neutral” to “Underperform.” The firm has also cut its price estimate for the stock, Read more…
Charges for UPI transactions: According to the RBI discussion paper on fees in the payment system published earlier this month, UPI payments may be subject to a tiered charge depending on different amount ranges. The Unified Payments Interface (UPI) services won’t be subject to any fees from the Indian government. Read more…