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UPI volume, value post strong growth during Diwali as festive spending lights up digital payments
This year, November 6, which coincided with Dhanteras, recorded UPI transactions worth Rs 1.37 lakh crore, the second-highest daily transaction value on record. Dhanteras is traditionally considered as an auspicious day to make high-value purchases. Transaction volumes hit a record the following day, November 7, at 975.8 million.
Razorpay gets Sebi nod for Rs 5,000-6,000 crore IPO: sources
ET reported on April 20 that Razorpay was preparing a confidential IPO filing to raise Rs 5,500-6,500 crore at an expected valuation of $5 billion (Rs 49,000-50,000 crore), below the $7.5 billion (around Rs 6,000 crore then) it commanded in its last major private funding round in 2021.
Hackers are targeting something the world can't do without: Food
A series of cyberattacks have affected supermarket refrigeration systems in multiple European countries, leading to food spoilage. These attacks, described as deliberate attempts to disrupt the food supply chain, raised concerns among retailers and consumers alike. Various security vulnerabilities in connected refrigerated systems have been exploited, underscoring the need for better cybersecurity measures. No group has claimed responsibility for the attacks; however, state backing is being investigated.
Razorpay gets final Gift City licence to expand cross-border payments
Razorpay has attained a payment service provider licence from the International Financial Services Centres Authority. This licence allows the company to process foreign-currency payments from its base in Gift City, Gujarat. The approval enables Razorpay to offer multi-currency accounts and facilitate international transactions. With established integrations with RBL Bank and ICICI Bank, the service is expected to be utilized shortly.
Gen Z brands are breaching the last citadel of legacy consumer firms
India's Gen Z and D2C brands are challenging FMCG giants like Hindustan Unilever, ITC and Marico by expanding into kirana stores. New-age brands captured 21.7% of India's kirana market in H1 FY27, up from 14.8% a year earlier. As digital-first brands breach traditional distribution networks, legacy FMCG companies face growing competition for retail shelf space and consumer loyalty nationwide.
45.6% of Indian households use digital channels for at least one purchase: Report
Around 45.6 percent of Indian households currently utilize online shopping and digital payments for various purchases. Despite this growth, 54.4 percent still prefer traditional payment methods for their transactions. Digital adoption varies significantly across categories, with consumables and services leading at 39.68 percent. The report shows that higher Monthly Per Capita Consumption Expenditure correlates with increased online shopping.
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Gold bond turns Rs 1 lakh investment into Rs 3.76 lakh: Check SGB premature redemption date, price and other details
The Reserve Bank of India has announced that the SGB 2019-20 Series VI will be eligible for premature redemption on October 30, 2026. The redemption price is set at Rs 14,213 per unit, reflecting the average closing price of gold. Originally offered at Rs 3,785 per gram online, investors can expect a remarkable return of 275.51% on their investment, excluding interest.
Indian patch patrol sets out to resolve PHP risk
Two critical security flaws in PHP, the programming language underpinning an estimated 70% of the internet, have triggered emergency cybersecurity measures in India. Banks are auditing applications and preparing backups, while the government is patching official websites. Razorpay has deployed AI-led vulnerability detection and warned merchants about potential breaches.
Japanese companies compensate users as cyberattacks buffet economy
GMO Internet Group said customers would be compensated for losses stemming from unauthorised access following a cyberattack on its foreign exchange trading service, and all customers would receive 5,000 yen ($32) as "an initial gesture of good faith," CEO Masatoshi Kumagai said in a blog post on Sunday.
7 discount, cashback credit cards for online festive shopping in 2026: One of them is lifetime free
Most of us will engage in festive shopping, making credit cards an appealing choice for discounts and cashback offers. But before choosing a card, analyse fees, rewards, and conditions on cashback. Check these 7 credit cards that are offering up to 10% cashback on online shopping, among other offers. These cards also have a low joining fee and one of them is lifetime free.
PHP security vulnerabilities: Indian govt rushes to fix official websites, banks audit apps
Banks have begun auditing applications for weaknesses, taking some non-critical services offline and preparing backups to divert traffic if parts of their websites or mobile applications experience downtime, according to executives.
Swiggy’s Q2 report card; eMudhra to exit certificate biz
Swiggy continued on its growth trajectory while bringing down losses in Q2FY27. This and more in today’s ETtech Top 5.
Horoscope Today, October 20, 2026: Dussehra Brings Fresh Hope as Aries, Taurus and Gemini Navigate New Choices and Opportunities
Starting with the Moon’s continuous transit in Capricorn, your day brings strong support for professional advancement, long-term wealth, and structured asset protection. While Mercury in Libra supports constructive dialogue, the Sun and retrograde Venus advise verifying financial agreements. Debilitated Mars in Cancer urges calm patience in workplace matters. Today highlights career advancement for Aries, conservative planning for Taurus, and discreet asset protection for Gemini.
Cult.fit gets Sebi nod for Rs 3,500-4,000 crore IPO
The IPO will comprise a fresh issue of shares worth Rs 950 crore and an offer for sale (OFS) of up to 178.6 million shares by existing investors and individual shareholders. The final issue size will be determined after the price band is set. Chiratae, Temasek, Fitness First, Tata Digital, Accel, Kalaari and cofounder Mukesh Bansal are among the entities divesting their stake. Chiratae plans to sell up to 28.1 million shares through two funds, while Temasek will offload up to 24.7 million shares. Actor Hrithik Roshan will also sell part of his stake.
EPFO WhatsApp channel: Can you access EPF, EPS and EDLI services? How to join
EPFO has introduced a new WhatsApp channel to keep subscribers informed about its schemes and services, attracting around two lakh users so far. The channel provides insights into the Employees’ Provident Fund, Employees’ Pension Scheme, and Employees’ Deposit Linked Insurance.
LIC reveals details of its 3 new plans: Check benefits of New Jeevan Dhara-II, Health Shield and New Cancer Cover
Life Insurance Corporation of India is set to launch three new insurance products on October 19, 2026. These offerings, namely New Jeevan Dhara-II, Health Shield, and New Cancer Cover, have been designed to cater to various financial needs like retirement funds and health insurance. Customers will have easy access to these plans online via LIC's official portal, promising a boost in financial stability for families.
Diwali Sale 2026: Buying fridge, AC, or washing machine online? Here’s how to get the best deal on big appliances and save more
Online sales of big appliances are growing at 25% as the festive sales begin. The Kagan 2026 Asia-Pacific Consumer Insights survey by S&P Global Market Intelligence, conducted in June 2026 among 1,000 internet adults each in China, South Korea and India, shows that most Indian respondents still primarily make retail purchases from stores.
Delhi's new protest site Ramlila Maidan has just 3 booking days left this year; cost tops Rs 1 lakh
Ramlila Maidan, one of three venues designated for protests in Delhi after Jantar Mantar was de-notified, has no available booking dates until December 29, except for December 30 and 31. Officials say a one-day booking requires an initial payment of about Rs 1.21 lakh, while traders and transport operators warn that demonstrations could worsen congestion around commercial markets, railway stations and major roads.
IIT-Bombay study bats to cut MDR to 0.08 pc from 0.4 pc, exclude banks from taking bulk share
A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate for UPI transactions to improve the ecosystem. The current rate of 0.40 percent should decrease to 0.08 percent for third-party application providers. Additionally, the study suggests that banks should not depend on transaction fees but use funds from CASA deposits. It emphasizes the development of necessary services to enhance trust in digital payments.
India must ensure AI benefits reach every citizen, prevent digital divide from widening: Scindia
Union Minister Jyotiraditya Scindia stressed the critical need for responsible AI growth to ensure equitable access for everyone. He highlighted the staggering 2.2 billion individuals still lacking internet access, warning of a possible AI gap in the future. India's initiatives like the IndiaAI Mission focus on affordable tech and improving digital infrastructure, while the AI for Good Lab aims to boost skills and readiness, prioritizing public safety.
Want the latest iPhone without buying it? India’s smartphone subscription bet grows
Subscription-led models for premium smartphones are beginning to gain traction in India as buyers look to lower upfront costs and upgrade devices more frequently. While EMI and trade-in programmes still dominate, services offering monthly access to iPhones, Pixels and Galaxy devices are growing, particularly among consumers in the ₹1 lakh-plus segment.
Palmonas' offline push; IndiaAI's GPU crunch
Happy Thursday! Demi-fine jewellery brand Palmonas is betting on offline stores, cofounder Pallavi Mohadikar said. This and more in today’s ETtech Morning Dispatch.
Deadlines for income tax audit and ITR filing extended for AY 2026-2027 to these dates
The Central Government has extended the deadline for filing Income Tax Returns for the Assessment Year 2026-27. Taxpayers subject to audit now have until November 21, 2026 to file their returns. Additionally, the tax audit deadline has been shifted to October 21, 2026, providing more time for compliance. Chartered Accountants must upload the tax audit report on behalf of their clients through the e-filing portal.
New indicator for New India: 25 stocks whose numbers can reveal what is in store for the economy and the stock market
For decades, there was a familiar way to understand the Indian consumer. Economists waited for GDP, industrial production, inflation, credit growth and other official numbers, and then used them to work out whether households were spending more or pulling back. Those indicators still matter. But the Indian consumer has changed faster than the dashboard used to track consumption and spending patterns. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
Tax Audit Report deadline: Who needs to upload it by September 30, 2026
The deadline for uploading tax audit reports is set for September 30, 2026, specifically targeting certain taxpayers. Chartered accountants will manage the upload of the tax audit report on the e-filing portal, after which taxpayers need to accept and e-verify the tax audit report.
Retailers push back against proposed 0.4% MDR on UPI transactions above Rs 2,000, warn of hit to thin margins
Retailers are strongly opposing a proposed merchant discount rate on UPI payments. This new charge will significantly impact their already very thin net profit margins. Industry associations are petitioning the finance ministry to scrap the proposed transaction fee. They highlight that this fee will erode the survival margins of many small businesses. The proposed charge is set to be implemented from October fifteenth.
‘Open is the word’: Juspay’s Ishan Sharma on population-scale payments, agentic payments and building from India for the world
In an exclusive interview with The Economic Times at the Global Fintech Fest 2026, Juspay’s Ishan Sharma reflected on 12 years of solving payments at population scale, the rise of agentic commerce and why Indian fintechs must aim for developed markets.
Rapido faces Rs 10 lakh penalty over ‘pay more, get a ride’ prompts, dark patterns in app
The Central Consumer Protection Authority fined Rapido Rs 10 lakh for misleading interface designs. Rapido used dark patterns like 'Confirm Shaming' and 'Interface Interference' to nudge riders. The authority also found the platform guilty of misleading advertisements and unfair contract terms. This action follows a sector-wide examination into advance tipping and dynamic pricing.
UPI still has 'lot of scope' to grow, rural and offline access key challenges: NPCI CTO
UPI has significant room for growth, especially in rural areas. Developing offline payment solutions remains a key challenge for the platform. NPCI expects UPI's international footprint to expand further into new markets. Artificial intelligence is increasingly used across NPCI's operations for various functions. The next decade will focus on user and merchant inclusion and technological advancement.
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