Banking, Fintech & Insurance
Commercial banks, digital UPI payments, micro-lending, insurtech innovations and neo-banking.
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"From UPI to Credit on UPI: How Digital Public Infrastructure is Rewiring India’s ₹200 Lakh Crore Banking Grid"
India’s payments stack is no longer just a rail for money movement; it is becoming a distribution layer for credit. The National Payments Corporation of India’s credit-line-on-UPI framework, combined with Account Aggregator consented data and bank-fintech co-lending, is pushing formal credit deeper into the country’s MSME economy without the friction of branch-led underwriting. For lenders, the prize is access to millions of thin-file borrowers. For regulators, the risk is that speed and scale could outpace underwriting discipline. The shift is especially consequential for public sector banks such as SBI and private lenders including HDFC Bank and ICICI Bank, which are partnering with fintechs like Pine Labs and Razorpay to originate and service small-ticket, often unsecured loans. But the model sits inside a tighter prudential regime: RBI’s higher risk weights on unsecured lending, stricter NPA recognition, and pressure to model default behavior in real time. The result is a new contest over who controls credit risk in India’s ₹200 lakh crore banking system.
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The Insurance Shuffle: IRDAI's Bold Move Reshapes Insurtech Landscape
On September 26, 2026, the IRDAI unveiled a transformative draft for the insurtech sector, coinciding with the IPO debut of Moneyview, a leading fintech player. This dual event signals a pivotal moment in India's insurance and technology industries.
Turtlemint Crashes 20%, PB Fintech Falls 8% After IRDAI's Commission Cap Proposal
In a significant market downturn, Turtlemint's shares plummeted 20% while PB Fintech saw an 8% decline following the Insurance Regulatory and Development Authority of India's proposed commission caps. This regulatory shift raises concerns over the profitability of digital insurance platforms in India.
Pine Labs Transforms from PoS Pioneer to AI-Driven Fintech Leader
Pine Labs, once a pioneer in point-of-sale technology, has evolved into a comprehensive AI-driven fintech platform. This transformation reflects broader trends in the Indian tech landscape, emphasizing innovation and adaptability.
Insurtech Sell-Off: $3.6 Billion Market Cap Erosion Hits New-Age Tech Stocks
The insurtech sector faced a significant downturn this week, with PB Fintech and Turtlemint leading a sell-off that resulted in a $3.6 billion drop in combined market capitalization. This decline follows the Insurance Regulatory and Development Authority of India's (IRDAI) proposed changes to commission structures, raising concerns among investors.
RBI Poised for Rate Hikes as Rate-Cut Cycle Ends Amid Inflationary Pressures
Puneet Pal of PGIM India forecasts the end of the rate-cut cycle by the Reserve Bank of India, predicting a potential rise in policy rates by 50-75 basis points by FY27 due to persistent inflation and rising crude oil prices. This shift may present new investment opportunities in high-quality corporate bonds.
RBI's Poonam Gupta: India's Bond Market Thrives Amid Global Challenges
India's bond market shows remarkable resilience, outperforming historical trends, while equities face pressure from global AI advancements. RBI's Poonam Gupta emphasizes strong fiscal commitments as a driving force.
JK Tyre Rally of Himalayas Roars Off in Manali With 140 Competitors Set for High-Altitude Test
The sixth edition of the J&K Bank presents JK Tyre Rally of Himalayas was officially flagged off in Manali on Saturday, launching a demanding cross-country motorsport challenge across some of the highest and most rugged terrain in the country. With 140 competitors entered across Moto, Extreme and TSD categories, the rally will traverse Kaza, Jispa, Padum and Pensi La before concluding in Padum, Zanskar, on Wednesday.
Fear of Authority, Trust in Digital Payments Fuel Cybercrime Victimhood, Indian Policing Report Warns
A new report on cybercrime in India says victims are not only those with low digital exposure, but also people who wrongly assume digital payments are inherently safer than other modes. Experts at the launch of the Status of Policing in India Report 2026 said fear of authority, weak bank accountability and organised social engineering are helping cybercriminals thrive.
MDR on select UPI transactions is not a tax or surcharge, will not hit consumers, Sitharaman says
Finance Minister Nirmala Sitharaman has pushed back against criticism of the proposed Merchant Discount Rate on select high-value UPI transactions, saying it is neither a tax, cess nor surcharge and will not flow to the government. She said the charge is part of the digital payments ecosystem, will be borne by merchants, and is intended to support infrastructure and innovation in UPI.
Government Says New UPI Merchant Fee Won't Hit Consumers as India Moves to Protect Digital Payments Growth
Government sources on Thursday said the proposed 0.4% merchant discount rate on certain UPI transactions above Rs 2,000 will be borne by merchants, not consumers, and will not flow into government coffers. The move, effective October 15, is aimed at building a sustainable revenue model for the digital payments ecosystem while keeping person-to-person UPI transfers free and shielding most small merchants from the charge.
Per Annum Bets on Rs 10,000 Crore AUM as Retail Investors Move Beyond Traditional Assets
Alternative investment platform Per Annum says it has reached Rs 1,500 crore in assets under management as of August 2026, marking a 400% jump in the past 12 months. The company is now expanding across P2P lending, private credit and fractional real estate as Indian retail investors increasingly seek diversification, yield and exposure beyond equities, gold and fixed deposits.
IRDAI's Insurance Overhaul Sends Insurtech Stocks Tumbling as Moneyview IPO Draws Mixed Demand
India's insurance regulator has proposed a sweeping reset of insurtech economics, including commission caps, tighter expense limits and restrictions on bundled lending-linked insurance, triggering a sharp sell-off in listed platforms. The market reaction was immediate, with PB Fintech and Turtlemint hit hard, even as Moneyview's IPO opened to a modest first-day subscription led by retail and non-institutional investors.