Category Added in a WPeMatico Campaign
The startup, which is backed by Pravega Ventures, HDFC Bank, and PayPal, will use the funds to acquire firms that offer complimentary services to small enterprises. Its first buy, Digiledge, offers bill payments and CBDC.
The move aligns with Tata Communications’ strategic focus on high-growth areas such as network, cloud, cybersecurity, IoT, interactions, and media services, enabling the company to sharpen its core capabilities while unlocking greater value.
At a Mumbai tech week event on Friday, CEO Dilip Asbe revealed that the company is building an R&D and experience centre with a capacity of about 5,000 people. He also mentioned that the NPCI office has been visited by representatives from around 70 countries over the past four to five years.
In January, UPI processed 16.9 billion transactions, amounting to a transaction value of Rs 23.48 lakh crore. However, Visa and Mastercard continue to dominate India’s credit card market, even as RuPay gains traction, driven largely by the adoption of UPI-enabled credit cards.
UPI transactions in February declined to 16.11 billion from 16.99 billion in January 2025. IMPS transactions saw a 25 per cent year-on-year (YoY) decline in volume to 405 million, while AePS transactions remained steady at 94 million. FASTag transactions registered an 18 per cent YoY growth, increasing to 384 million from 380 million in January.
Bitcoin fell below $80,000, hitting a 3.5-month low due to uncertainties over U.S. tariff plans, crypto regulations, and weak investor sentiment after an Ethereum hack. Despite the dip, institutional optimism remains with targets set at $500K by the end of Trump’s term. Major cryptocurrencies also saw losses, including Ethereum and XRP.
According to DPIIT, this collaboration aims to provide essential support to entrepreneurs, enabling them to scale their businesses and strengthen India’s position as a global leader in emerging financial technologies.
The government is collaborating with banks to implement a system for routing and settling interest subsidies on education loans through digital currency wallets. This initiative aims to integrate with the Unified Portal for Education Loan, enhance the efficiency of subsidy claims, and reduce fraud by using Central Bank Digital Currency (CBDC).
NPCI has issued a warning about the call merging scam that exploits phone call merging to steal OTPs for financial fraud. Scammers manipulate victims into merging calls with another fraudster to obtain OTPs. Users are advised to avoid merging calls with unknown numbers and verify caller identities.
Being a payments bank, Mumbai-based Fino cannot offer credit from its own balance sheet. It needs to work with other lenders as a sourcing partner. The bank is currently undertaking pilots around products such as home loans, gold loans and other micro-credit products for merchants.
