NPCI extends the deadline for PhonePe and Google Pay to lower their market share in UPI by two years, lifting the onboarding limit for WhatsApp. Despite new players, PhonePe and Google Pay dominate the market. NPCI aims to avoid single-point failure risk and supports diverse UPI app growth.
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India and Qatar aim to double their bilateral trade to $28 billion in five years, transforming their relationship into a strategic partnership. PM Modi and Amir Al-Thani's high-level meeting led to key agreements on trade, investment, and energy cooperation, including extending India's LNG imports from Qatar. Additionally, they signed MoUs on economic cooperation and cultural exchange.
HDFC Life reported a 14% rise in net profit to Rs 415 crore for the December quarter, up from Rs 365 crore a year ago. However, total income declined to Rs 16,914 crore from Rs 26,694 crore. The solvency ratio dropped slightly to 188% from 190%, still above the regulatory requirement of 150%.
Rohan Mirchandani, the 42-year-old co-founder of Epigamia, passed away from a sudden cardiac arrest. He established the company in 2013, introducing flavored Greek yogurt to India. Epigamia's leadership and board, including Mirchandani's family, will continue his work. His death is a loss to the entrepreneurial community.
Budget 2025 expectations: Address the issue of subdued private capital expenditure with a new strategy rather than relying solely on rate cuts as a panacea. The 2023-24 Economic Survey rightly emphasised that underwhelming private capex in key infrastructure sectors cannot be resolved by central government policies alone.
Rajeev Chandrasekhar highlights India's leap in electronics manufacturing, with global and domestic brands now designed and manufactured locally. This shift is attributed to the government's move from import substitution to an export-led framework. Key trends include smarter, AI-connected products, India's expanding global value chain presence post-Covid, and the rise of highly intelligent digital products.
India's current account deficit is expected to remain at approximately 1 per cent of GDP for fiscal 2025, up from 0.7 per cent last year, according to CRISIL. Strong financial inflows and a steady services trade surplus are contributing factors, despite a rising merchandise trade deficit and pressures from geopolitical risks.
Donald Trump paused tariffs on most nations but increased levies on China. China retaliated and called for mutual respect in dialogue. The trade war threatens global supply chains and economic stability. Xi Jinping prepares for long-term confrontation, reducing reliance on the US. Both countries face economic pain, but neither leader is willing to back down. The situation is a deadlock.
The DGCA issued a warning letter to Akasa for lapses in dangerous goods carriage found during a December 2024 inspection. Violations included unchecked electronic devices with lithium batteries and shipments over permissible limits. Akasa admitted the lapses and took corrective actions. The DGCA warned Akasa to ensure future compliance and submit an internal audit report within 30 days.
Zara's only independent store in Mumbai has closed due to economic unfeasibility after its rent exceeded Rs 30 crore per year. The store, situated in the heritage Ismail building, opened in 2017. Zara will continue to operate its other three Mumbai outlets located in shopping malls, as well as strengthening its online presence.