Daily Brief

Fintech Brief — October 30, 2026 Today’s Top Stories Supreme Court: banks must repay digital-fraud victims in full when due diligence fails The Supreme Court on Thursday directed that the RBI’s pending KYC (Amendment) Directions, 2026 must make banks financially liable for digital-arrest scams. A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana, hearing the suo motu case In Re: Victims of Digital Arrest Related to Forged Documents, ordered that the framework “must mandate financial institutions to indemnify victims of digital arrest or cyber fraud through suitable compensation, not less than the amount lost by the customer, where the fraud or crime is found to have resulted from a failure of due diligence by the financial institution.” Moneycontrol · New Indian Express ...

Fintech Brief — October 29, 2026 Today’s Top Stories PhonePe rebrands Indus Appstore into a digital goods marketplace PhonePe rebranded its homegrown app marketplace Indus Appstore as PhonePe Appstore on October 28, announcing that the platform has crossed 200 million (20+ crore) devices through OEM partnerships, with Uttar Pradesh, Maharashtra, Bihar, Karnataka and Telangana its top five states. The bigger shift is strategic: beyond app discovery — its catalogue now runs from ChatGPT and Duolingo to Sony LIV and Honor of Kings — the platform is becoming a marketplace for digital goods, selling gift cards and top-ups across shopping, travel, gaming, health and lifestyle, with in-game currency top-ups rolling out first. A new webstore, phonepeappstore.com, works from any browser without an app install. Chief business officer Priya Narasimhan pitched it as developers unlocking “new ways to earn — including ads, gift cards, and top-ups.” PhonePe press release · Moneycontrol · Business Today ...

Fintech Brief — October 28, 2026 Today’s Top Stories PhonePe’s Nigam makes the public case for UPI MDR — and questions the market-share clock Speaking at Business Standard’s BFSI Insight Summit, PhonePe founder and CEO Sameer Nigam argued the return of the merchant discount rate (MDR) is necessary to keep UPI sustainable: “You can’t have a vibrant payments market with no money in payments.” He disclosed that PhonePe has spent close to $1.7–1.8 billion over ten years — all of it losses — building UPI adoption, and brought in $2.5 billion of foreign capital while remaining without a life-to-date profit. At the 0.4% cap NPCI has notified for select person-to-merchant transactions above ₹2,000, he said, India would have “the cheapest MDR in the world.” Business Standard interview · Companion MDR report ...

Fintech Brief — October 27, 2026 Today’s Top Stories Paytm’s profit jumps; the underlying comparison is less dramatic One 97 Communications, Paytm’s parent, reported Q2 FY27 revenue from operations of ₹2,648 crore, up 28% year on year, and consolidated profit after tax of ₹225 crore, against ₹21 crore a year earlier. Merchant GMV rose 26% to ₹7.1 lakh crore; average monthly transacting users reached 8.5 crore, up 13%. The company also reported 1.64 crore merchants paying for subscriptions, 19% higher year on year. These operating figures show expansion in payments and merchant monetisation, not just a swing in accounting profit. ...

Fintech Brief — October 26, 2026 Today’s Top Stories RBI inaugurates a ₹169-crore data centre and cybersecurity institute in Odisha, with RTGS and NEFT among the systems it will host. YourStory’s latest weekly tally puts Indian startup funding at $96 million across 15 deals; a separate IPO pipeline points to continuing public-market fundraising. 1. RBI’s new data centre puts payment-system resilience in focus Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s new Data Centre and Cybersecurity Training Institute in Bhubaneswar on October 25. The RBI says the centre will host mission-critical systems including RTGS and NEFT; the institute is intended to build expertise in cybersecurity, AI and emerging technologies. YourStory, citing officials, puts the project cost at ₹169 crore and says the facility covers 18.55 acres at Jatni, near Bhubaneswar. The stated location rationale includes distance from seismically active zones and high-risk international borders. RBI’s release and YourStory’s report provide the institutional and project details. ...

Fintech Brief — October 25, 2026 Today’s Top Stories SEBI outlines a four-part capital-markets roadmap, including tokenised corporate bonds and safeguards for AI and trading terminals. MCA extends FY26 company filing deadlines and waives additional fees for eligible filings. Indian startup funding falls 56% week-on-week; no new fintech venture round with disclosed terms surfaced in the 24-hour window. 1. SEBI sketches its next market rulebook: deeper markets, safer technology In an October 24 address to the Association of National Exchanges Members of India, SEBI chair Tuhin Kanta Pandey set out a four-part agenda: simpler rules, deeper markets, responsible technology and wider investor access. The market is already large—Pandey cited roughly ₹470 lakh crore in equity market value, ₹61 lakh crore in outstanding corporate bonds, ₹83 lakh crore in mutual-fund assets and more than 15 crore unique investors—but participation remains shallow. SEBI’s investor survey, as cited in the speech, found that nearly two-thirds of households know about securities products while fewer than one in ten invest; nearly half of households planning to invest are rural. ...

Fintech Brief — October 24, 2026 Today’s Top Stories RBI fixes April 1, 2027 as the start date for revised operational-risk capital rules for commercial banks. SEBI sets November 8 for a limited relaxation in research analysts’ call-recording rules for institutional clients. FSDC puts fintech innovation, tokenisation, cyber resilience and MSME-focused digital infrastructure on its agenda. 1. RBI sets the operational-risk capital start date The RBI’s October 23 amendment gives banks a firm implementation date for its Basel III standardised approach to operational-risk capital: April 1, 2027. It also supplies an indicative mapping between the Business Indicator used in the calculation and line items in banks’ financial statements, and incorporates clarifications on how some items should be classified. The framework applies to commercial banks, excluding small finance banks, payments banks and regional rural banks. Its components include interest, lease and dividend income; service-related income and expenses; and financial income and losses. ...

Fintech Brief — October 23, 2026 Today’s Top Stories SEBI sets a margin-relief framework for cash trades after accepted early pay-in. SEBI cautions investors about stock tips in invitation-only WhatsApp groups. RBI extends directions on Suri Friends’ Union Co-operative Bank for three months. 1. SEBI eases margins on some cash-market trades after early pay-in SEBI’s October 22 circular permits accepted early pay-in (EPI) of securities sold against a net sell settlement obligation to count toward a client’s subsequent cash-segment positions on the same trade date, up to the accepted EPI value. The clearing corporation calculates eligible value in real time as the lower of the EPI completed and the value of securities sold. This is targeted margin treatment—not a blanket waiver for every trade or a licence to take unfunded positions. ...

Fintech Brief — October 22, 2026 Today’s Top Stories RBI restricts Puducherry Co-operative Urban Bank. SBI reports 3,897 exposed customer records. Jio Platforms opens a ₹30,213 crore IPO. Karta AI raises $3 million for BFSI automation. 1. RBI caps withdrawals at a Puducherry co-operative bank Effective at close on October 21, RBI barred Puducherry Co-operative Urban Bank from lending, taking fresh deposits, incurring liabilities or making payments without written approval. Withdrawals are capped at ₹5,000 from savings, current or other accounts. The restrictions run six months, subject to review. RBI cited liquidity and unresolved supervisory concerns; the licence remains in force. Eligible depositors may claim DICGC insurance up to ₹5 lakh in the same capacity and right, after submitting willingness and completing verification. That cover is separate from funds currently available to withdraw. RBI’s order sets the terms. ...

Fintech Brief — October 21, 2026 Today’s Top Stories Kissht: BSE and NSE gave in-principle approval for OnEMI Technology Solutions’ proposed ₹832.2 crore preferential share issue. SBI data claim: A report revisited an allegation of leaked bank-linked records, but it does not verify the data, its origin, or a breach of SBI systems. 1. Kissht gets exchange approvals for a ₹832 crore capital raise On October 20, OnEMI Technology Solutions disclosed in a regulatory filing that the BSE and NSE had granted in-principle approvals for its proposed preferential issue of up to 2.65 crore equity shares at ₹314.11 each, a raise of ₹832.2 crore. The board approved the plan on September 17 and shareholders backed it on October 14. Entrackr’s report says 34 investors are expected to participate, including Axis Mutual Fund, HDFC Mutual Fund, MIT, WhiteOak, 360 ONE, Groww Mutual Fund and Bandhan Mutual Fund. The company’s September 18 filing to the NSE set out the proposed use: 75% of proceeds for Si Creva Capital Services, its wholly owned lending subsidiary, and 25% for general corporate purposes. These are in-principle approvals for a proposed issue—not evidence that the money has already been received. ...