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IIFL Finance reported a sharp jump in second-quarter profit after tax to Rs 805 crore, nearly doubling from the year-ago period, as stronger operating leverage and lower loan losses lifted earnings. Assets under management rose 38% to Rs 1.24 lakh crore, supported primarily by robust growth in gold loans.
OnMeta has signed a memorandum of understanding with Kazakhstan’s national postal operator, QazPost, to explore digital financial solutions that could combine OnMeta’s technology stack with QazPost’s wide distribution footprint. The agreement signals a broader push by OnMeta to expand beyond its core markets and test a partnership-led model for financial services growth in Central Asia.
The Finance Ministry will meet heads of banks on Tuesday to assess the progress of India’s flagship financial inclusion programmes, including Jan Dhan, Mudra, and key insurance schemes. The review is expected to focus on account penetration, credit access for small businesses, and the depth of social security coverage across the banking system.
The Finance Ministry will meet heads of banks on Tuesday to assess the pace and reach of India’s financial inclusion agenda, with a particular focus on flagship schemes such as Jan Dhan, Mudra, and key social security programmes. The review is expected to examine how effectively banks are expanding access to savings, credit, insurance, and entrepreneurship support across underserved segments.
OnMeta has signed a memorandum of understanding with Kazakhstan’s state-backed postal operator QazPost to explore digital financial solutions, marking a strategic step in the company’s international expansion. The collaboration is designed to combine OnMeta’s digital infrastructure with QazPost’s broad distribution network, potentially widening access to modern financial services across Kazakhstan.
PSB Bank Chairman Petr Fradkov has outlined how alternative payment infrastructure is emerging inside one of the most tightly controlled corners of the global economy: cross-border settlements. In an interview with RBC, he described the A7 international payment system as operating in a space where conventional international payments are effectively absent, underscoring a broader shift in financial architecture. The remarks highlight a growing push to build parallel transaction channels as geopolitical frictions, sanctions pressure and banking restrictions reshape how money moves across borders. For sectors such as automotive, EVs and mobility, where supply chains and component sourcing depend on reliable settlement systems, the evolution of these rails could carry significant commercial consequences.
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