PAYMENT FIRMS
Buying property costing between Rs 20 lakh and Rs 45 lakh without a PAN? You must use new Form 97, says Income Tax Department
The Income Tax Department has introduced a new Form 97, replacing Form 60, for individuals without a PAN card undertaking specific transactions. This includes buying property above the specified value, opening bank accounts, and making certain cash payments. The revamped forms aim to simplify compliance, with reduced reporting expected for these declarations.
Razorpay set for confidential IPO filing; valuation may fall to around $5 billion
The fintech startup, last valued at $7.5 billion, is expected to be questioned on growth sustainability and the road to profitability; Walmart-backed PhonePe paused its $1.3 billion IPO last month, citing West Asia conflict.
Public sector banks told to take quantum leap in encryption for added security
Indian banks are preparing for a quantum computing future. The finance ministry has asked public sector banks to explore quantum-resistant encryption. This move aims to secure financial systems against future threats. Experts warn quantum computers could break current encryption. India's National Quantum Mission is also building a quantum communication network.
India resilient amid oil shock, may grow 6.8%-7.1% despite global headwinds: SBI Research
India faces global challenges from a strong position. Economic growth is projected between 6.8% and 7.1% for FY27. The nation's banking sector is robust. Opportunities arise for GIFT City and Indian airports. The Reserve Bank of India is likely to maintain its current monetary policy stance. India's resilience is evident amidst regional conflict and global uncertainties.
Rupee depreciation forces Indian firms to adopt Yuan payments, boost local sourcing
Indian businesses are actively seeking ways to counter the weakening rupee. Companies are now making payments for Chinese imports in yuan, aiming for better supplier prices. Simultaneously, there is a strong push towards sourcing more goods locally. This strategy helps reduce dependence on imported items and manage rising costs. These efforts are crucial for businesses facing currency pressures.
Cabinet clears Rs 12,980 crore maritime insurance pool to cut costs
India is launching the Bharat Maritime Insurance Pool, backed by a substantial sovereign guarantee of over ₹12,980 crore. This strategic initiative aims to offer unwavering maritime insurance coverage for Indian vessels, encompassing all maritime risks and significantly decreasing dependency on international insurers.
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Regulations slow growth but reward patient founders: Razorpay’s Harshil Mathur at YC Startup School
Razorpay CEO Harshil Mathur highlighted the advantages of operating in regulated spaces, noting the company's explosive growth in India's payments market, now exceeding $180 billion in volume. He shared early challenges, including a bank pulling support, but emphasized how adaptability, like embracing UPI, fueled their success, especially during the pandemic's D2C boom.
Bitcoin (BTC USD) or gold: Which safe haven asset did traders choose during the US-Iran conflict?
Bitcoin (BTC USD) vs gold as safe haven: Markets experienced a significant jolt following geopolitical tensions, with oil seeing a surge in trading activity instead of Bitcoin. While Bitcoin initially dropped, it later rebounded, outperforming equities over the full conflict period. Gold maintained its status as a traditional safe-haven asset.
Noida workers' unrest: Action against 203 contractors labour law violations
Noida authorities are taking strong action against contractors. Licenses of 203 contractors are being cancelled. Firms are being blacklisted for violating labor laws. Over Rs 1.16 crore in dues will be paid to workers. This follows recent labor unrest and a 21 percent wage hike implemented from April 1. Strict action will follow for any further violations.
Nervous Indian fintechs push Anthropic for access to Mythos
One97 Communications, Razorpay Software and Pine Labs are among the Indian companies that have pushed the San Francisco-based AI developer to let them test Mythos and detect vulnerabilities on their own systems. Their requests came after Anthropic announced a limited roll-out of its latest large-language model, which it considers too dangerous to release more widely.
London insurers launch $1 bn war cover for Hormuz shipping
London shipping insurers are providing $1 billion in additional war coverage for vessels navigating the Strait of Hormuz. This move by a marine war consortium led by Beazley aims to support the maritime sector amidst the ongoing Middle East conflict.
Most Trump tariff refunds facing denial if importers don’t opt in
Most US importers who paid $166 billion in tariffs later struck down by the Supreme Court may miss out on refunds because they have not registered for electronic payments, the government told a court.
Majority of Indian firms hit by ransomware in 2025 pay over Rs 12 crore on average: Report
As per the report findings, India has emerged as the Asia-Pacific epicentre of ransomware activity, with manufacturing organisations witnessing a marked rise in frequency and impact.
Paytm’s cap table turns Indian: What changes now?
Domestic investors now own 50.3% of the digital payment firm's equity, marking a transition to majority Indian ownership and control. This shift is driven by increased participation from domestic institutional investors (DIIs).
Do Shah Rukh Salman Khan’s bodyguards earn Rs 2.5 crore per year? SRK’s former body guard shares the truth: ‘If someone is a bodyguard for a big star…’
Yaseen Khan, formerly Shah Rukh Khan's bodyguard, debunks claims of exorbitant bodyguard salaries, stating they receive fixed monthly pay with potential project-based bonuses. He initiated changes in the industry, advocating for fair compensation beyond basic salaries, which gradually became a norm. While special arrangements exist, high annual incomes are rare.
Job cuts in U.S.: Massive lay offs underway in Snapchat parent company. Check severance package, which employees are losing jobs right now?
Snapchat, Meta, Nike, Citigroup, Morgan Stanley employees are under the job cuts threat. AI-driven automation is exposing multiple sectors across the U.S.
Centre offers to bail out airlines with Rs 4,000-crore loan
India plans a ₹4,000 crore emergency credit scheme for airlines, offering sovereign guarantees of up to ₹1,000 crore per carrier to ease stress from the Iran war. Additional loans will require promoter funding. The move comes as rising fuel costs and curtailed West Asia routes hit operations. SpiceJet is likely to benefit most amid financial strain, while lenders remain cautious given past airline bankruptcies.
Dubai realty shaken from West Asia conflict but holds its ground
Real estate transactions in Dubai fell 14% in early April amid the West Asia conflict, with buyer sentiment hit and rental demand sharply declining. Smaller developers offered discounts and flexible plans, while prices largely held. Though enquiries have picked up after a ceasefire, deals may take time. Experts say demand remains structurally strong, but prolonged tensions could trigger further price corrections and slower market activity.
Tinder $60.5 million settlement: Find out if you qualify for a cash payout now
Tinder settlement payout 2026: Tinder faces a $60.5 million class action settlement over allegations of charging older users more for premium features. The lawsuit claimed this age-based pricing violated California law. While Tinder denies wrongdoing, eligible users who paid for Tinder Plus or Gold while over 29 since March 2015 may receive a payout.
Paytm becomes majority Indian-owned as domestic investors increase stake
The shift marks a structural change in ownership for the fintech firm, with domestic shareholding rising steadily in recent quarters, reflecting growing investor confidence.
Banks, asset management firms, stock brokers set to be shareholders in Sahamati
Banks, NBFCs, brokers and fintechs are investing in Sahamati, with major lenders and platforms taking nearly 2–8.5% stakes. The move aligns with RBI’s SRO framework for the AA ecosystem, positioning Sahamati as a potential regulator-like body with stronger oversight and industry-wide participation.
BharatPe cofounder Shashvat Nakrani steps down as COO, to remain a director
Nakrani said he will move from a day-to-day role to a strategic advisor and board director from May 1, continuing to guide fundraising, IPO, M&A, and long-term strategy. Sources said he is likely to start a new venture.
Cashfree Payments appoints former Visa executive Sameer Gandhi as CFO
Cashfree Payments has appointed Sameer Gandhi as its new Chief Financial Officer, bringing over two decades of experience from global financial institutions. Gandhi's expertise will drive the company's financial strategy as it aims for accelerated growth and profitability. His addition comes after Cashfree Payments secured $53 million in a recent funding round.
Iran war leaves crisis-scarred countries counting the cost
Iran war: Sri Lanka, Egypt, and Pakistan are struggling with rising energy costs. The Iran war has worsened their economic situations. These countries rely on energy imports, making them vulnerable. International bodies like the IMF are ready to provide emergency support.
US FTC in settlement talks with ad companies in boycott probe, WSJ reports
The US Federal Trade Commission is in talks with major advertising firms. The discussions aim to settle a probe into potential antitrust law violations. Companies like Dentsu, Publicis, and WPP may agree not to shift ad budgets based on political content. Individual advertisers can still make their own site choices. Talks are ongoing and a deal is not guaranteed.
Wholesale rice prices up 7% as West Asia ceasefire fuels export rush
Indian rice prices have seen a significant jump at the wholesale level. This surge follows a recent ceasefire between the US and Iran, leading to a rush of export orders. The impact is expected to be felt by consumers soon. Disruptions had previously caused prices to fall.
Iran’s sanctions-busting crypto ambitions grow on toll payments
Iran proposes digital currency for Strait of Hormuz passage tolls. This move highlights a significant sanctions-evasion network. While legitimate channels find this plan unworkable, Iran's crypto ecosystem is growing. The Islamic Revolutionary Guard Corps channels billions through digital assets. This reveals a complex infrastructure for moving funds outside Western financial systems. The transparency of blockchain presents challenges for Iran's plans.
RBI proposes one-hour delay on high-value digital transfers to curb fraud
The Reserve Bank of India is proposing new rules to fight digital payment fraud. These include delays for certain bank transfers and extra checks for senior citizens. Customers will get a 'kill switch' to freeze all digital payments instantly. These measures aim to protect people as digital payments and fraud cases surge.
Stripe appoints Manish Maheshwari as India head of revenue and growth
Stripe has appointed Manish Maheshwari as head of revenue and growth for India. He will support businesses expanding globally, especially AI firms. With experience at Twitter, Flipkart, and Intuit, Maheshwari said that he aims to "provide businesses with the foundational infrastructure they need to scale and monetise globally."
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