Digital gold purchases through UPI continued their strong momentum in March 2026, with transactions reaching a record 254.44 million, while total transaction value stood at ₹3,171.96 crore, according to data from NPCI. Although the value was lower than the January peak of ₹3,926.47 crore, transaction volumes hit their highest ever level, indicating growing adoption. UPI has emerged as the dominant channel for digital gold purchases, accounting for over 90% of total transactions. The category has expanded across platforms such as Paytm, PhonePe, Jar, Amazon Pay, and Google Pay. The data reflects a shift in consumer behaviour, with users increasingly opting…
Author: Adarsh Kumar
Private sector lender ICICI Bank reported an 8.49% year-on-year rise in net profit to ₹13,701.68 crore for the January–March quarter (Q4 FY26), driven by steady income growth and a sharp decline in provisions. The bank had posted a net profit of ₹12,629.58 crore in the corresponding quarter last year. Net Interest Income (NII) grew 8.4% YoY to ₹22,979 crore, compared to ₹21,193 crore in Q4 FY25, supported by strong loan growth and stable margins. The bank’s Net Interest Margin (NIM) stood at 4.32%, marginally higher than 4.30% in Q3 FY26, indicating continued efficiency in core lending operations. On the fee…
The Reserve Bank of India (RBI) conducted a ₹2 trillion variable rate reverse repo (VRRR) auction, witnessing strong participation from banks amid surplus liquidity conditions in the system. According to RBI data, the auction received bids worth ₹2.28 trillion, exceeding the notified amount of ₹2 trillion, indicating robust demand from banks to park excess funds with the central bank. The RBI had announced the auction to manage transient liquidity surplus, as excess funds in the banking system remained elevated. Liquidity surplus, measured by funds parked by banks under the liquidity adjustment facility (LAF), stood at ₹4.09 trillion on Thursday, down…
Credit-on-UPI fintech startup Kiwi’s cofounder Mohit Bedi has stepped down from his role as Chief Business Officer (CBO) and transitioned into an advisory position, according to sources familiar with the development. Bedi, who is stepping down due to personal and family commitments, will remain with the company until July 2026, after which he is expected to exit. He will, however, retain a significant equity stake in the company, reflecting continued confidence in its long term growth. Founded in 2022 by Anup Agrawal, Siddharth Mehta, and Mohit Bedi, Kiwi enables credit based transactions on UPI, allowing users to access credit while…
The Adani Group is set to invest around ₹1 trillion in the large scale Motilal Nagar redevelopment project in Goregaon West, significantly expanding its footprint in Mumbai’s real estate and urban infrastructure space. The project will be executed by Estatevue Developers Pvt Ltd, a subsidiary of the Adani Group, and is expected to be one of the most ambitious housing redevelopments in the country. As part of the development plan, Adani will receive a free-sale component of approximately 1.7 million square metres, which can be monetised in the open market at prevailing real estate prices. This component is likely to…
Cognizant CEO Ravi Kumar S saw his annual compensation increase 28% to $21.5 million in 2025, according to the company’s proxy filing with US regulators. Meanwhile, CFO Jatin Dalal witnessed a 30% decline in compensation to $7.08 million. Kumar’s pay package included $1.3 million in salary, $15.8 million in stock awards, and $4.4 million in non-equity incentive compensation. Unlike the previous year, he did not receive a bonus. However, his realised compensation stood at $10.7 million, lower than his target compensation of $19 million, mainly due to performance linked stock units that are yet to vest. Dalal, who previously worked…
Co-living and managed accommodation platform ZoloStays continued its growth momentum in FY25, reporting a 67% year-on-year rise in operating revenue while reducing losses by 38%. According to financial statements sourced from the Registrar of Companies (RoC), the company’s revenue from operations increased to ₹342.3 crore in FY25, compared to ₹204.4 crore in FY24. ZoloStays derives the majority of its income from accommodation and allied services for students, professionals, and organizations. This segment contributed nearly 80% of total operating revenue and surged 73.6% to ₹273 crore in FY25. The company also provides residential facility management services to colleges and universities, along…
Jewellery retailer BlueStone has rolled out fresh employee stock options (ESOPs) worth nearly ₹11 crore, covering 2.09 lakh equity shares under its ESOP 2014 scheme, according to stock exchange filings. The company’s Nomination and Remuneration Committee has approved the grant of 2,09,319 stock options under the ESOP 2014 scheme. Each option can be converted into one equity share with a face value of ₹1. Based on the company’s previous closing share price of ₹522 per share, the newly granted ESOPs are valued at around ₹11 crore. The vesting will take place over four years. Around 25% of the options will…
Tata owned online food and grocery company BigBasket has appointed Arpit Jaiswal as its Chief Growth Officer (CGO), strengthening its leadership team as the company sharpens focus on profitable growth and category leadership. In his new role, Jaiswal will lead growth across product, user acquisition, retention, and market expansion. He will work closely with cross functional teams to deepen customer engagement, improve monetization efficiency, and scale BigBasket’s presence across urban and emerging markets. Jaiswal joins from Google Pay, where he served as Head of Growth and Group Product Manager. During his tenure, he led large scale user acquisition through partnerships…
New age fragrance brand FIFTH SENSE has secured ₹6.3 crore in a pre-seed funding round led by OTP Ventures, with participation from Sadev Ventures, ISV Capital, and angel investors including Rohit Kapoor and Amit Damani. The fresh capital will be used to expand its product portfolio, build the brand through storytelling-led content, and strengthen its supply chain and distribution network. Founded by Bharat Gupta and Prateek Gupta, both alumni of IIM Kozhikode, FIFTH SENSE aims to create India’s first emotion-led fragrance ecosystem. The brand is positioning fragrance as an extension of identity and self-expression, moving beyond conventional ingredient-led marketing. Its…