Business
RBI vision for PPI growth by 150% will be big for Paytm

The increase in prepaid payment instruments transactions could lead to higher than expected growth in wallet transactions and revenue for Paytm, says a Goldman Sachs report
The Reserve Bank of India (RBI) on June 24 released its ‘Payments Vision 2025’ report, which talks about the way forward for the Indian digital payments industry. With this comes a big boost for digital payments, which will be a positive for listed players like Paytm.
The RBI expects more than 3x increase in digital payment transactions, increase in PPI (prepaid payment instruments) transactions by 150 per cent, increase of payment transaction turnover vis-a-vis GDP to 8, increase in debit card transactions at PoS by 20 per cent, card acceptance infrastructure to increase to 250 lakh, increase of registered customer base for mobile based transactions by 50 per cent CAGR and more.
This overall growth will be beneficial for Paytm as it has established itself beyond UPI, and created a full stack payment ecosystem. Paytm, which introduced India to digital wallets and the QR code, has a host of flexible payment instruments — Paytm Wallet, Paytm UPI, Paytm Postpaid (Buy Now, Pay Later), Debit Cards, Credit Cards, NetBanking, and EMI and is also a leader in the offline payments market with its devices like Smart PoS and Soundbox.
A Goldman Sachs report dated June 19 notes that this will translate to $98 billion in value of transactions in FY25 (wallet+ cards) vs $39 billion in FY22. Additionally, it is expected that full KYC wallets only will be on UPI rails, where Paytm is a market leader.
“We note that digital wallets formed 77 per cent of total PPI transaction value in FY22, a segment where Paytm has 67 per cent market share (April 2022). We estimate wallets made up roughly one-third of Paytm’s payments revenues in FY22, and a higher than expected growth in wallet transactions could positively impact the market leader Paytm,” said the report.
The RBI’s vision also states that there will be increased regulations for the fintech sector.
However, companies like Paytm being listed are already aware of regulatory measures and adhering to digital banking guidelines.
So, while it might be disruptive for industry but it might be immaterial for Paytm.
Business
Ujjivan Small Finance Bank reports 74.7 pc net profit drop in Q4, NII down 7.4 pc

Mumbai, April 30: Ujjivan Small Finance Bank (SFB) on Wednesday reported a 74.7 per cent sharp decline in its net profit at Rs 83.4 crore for the fourth quarter (Q4) of FY25, compared to Rs 329.6 crore in the same quarter last fiscal.
This decline in earnings was mainly due to increased provisioning and a slowdown in interest income, caused by changes in the bank’s business mix.
In the fourth quarter, Ujjivan SFB’s Net Interest Income (NII) came in at Rs 864.4 crore, down 7.4 per cent from Rs 933.5 crore in the same period a year ago.
However, the bank’s asset quality showed improvement on a quarter-on-quarter (QoQ) basis, as per its stock exchange filing.
The Gross Non-Performing Assets (GNPA) dropped to 2.18 per cent from 2.68 per cent in the previous quarter, and the Net NPA also improved to 0.49 per cent from 0.56 per cent.
The bank’s Provision Coverage Ratio (PCR) remained strong at 78 per cent, backed by accelerated provisioning of Rs 46 crore during the quarter.
PCR is an important financial indicator for banks, reflecting their ability to cover potential losses from non-performing loans.
Additionally, Ujjivan SFB saw healthy growth in its deposits. Total deposits rose by 20 per cent year-on-year (YoY), reaching Rs 37,630 crore.
The bank also recorded strong growth in its CASA (Current Account Savings Account) ratio, which improved to 25.5 per cent, up 43 basis points from the previous quarter.
The gross loan book increased to Rs 32,122 crore — a 5 per cent rise from the previous quarter and an 8 per cent increase from the same period previous fiscal.
One of the key highlights for the bank was the growth in its secured loan portfolio, which now constitutes 44 per cent of the total loan book, up from 30 per cent during a year-ago period.
Ujjivan SFB also set a record in loan disbursements, with Rs 7,440 crore disbursed in Q4 — a 39 per cent QoQ growth. This was driven by a strong performance in micro-banking and individual loan segments.
Following the result declaration, the shares of the small finance bank was down by over 3 per cent to Rs 42.56 on the National Stock Exchange (NSE) on Wednesday.
Business
15th Rozgar Mela: EPFO hands over job letters to 976 new recruits

New Delhi, April 26: The Employees’ Provident Fund Organisation (EPFO) on Saturday handed over appointment letters to 976 new recruits as part of the 15th edition of the Rozgar Mela.
The Rozgar Mela was held across 47 locations nationwide. The event, addressed by Prime Minister Narendra Modi via videoconferencing, saw the distribution of over 51,000 appointment letters to newly inducted youth in various government departments, including EPFO.
“As part of this significant recruitment drive, EPFO welcomes new recruits to strengthen its workforce, ensuring efficient delivery of social security services to millions of subscribers across India,” said the Labour Ministry.
Appointment letters to 345 Accounts Officers/Enforcement Officers and 631 Social Security Assistants were issued as part of the drive.
The newly-appointed personnel will contribute to EPFO’s mission of providing provident fund, pension, and insurance benefits, supporting the government’s vision of a robust and inclusive economy.
EPFO has established recruitment vertical in head office to ensure regular recruitments and developed a recruitment calendar complying with directions of Union Minister of Labour and Employment, Dr Mansukh Mandaviya.
“During last one year, EPFO has recruited 159 Assistant Provident Fund Commissioners, 84 Junior Translation Officers, 28 Stenographers, 2674 SSAs among others. Further recruitment of APFCs, EO/AO, PAs and ASOs are underway,” according to the ministry.
The Rozgar Mela aligns with the Prime Minister’s commitment to prioritizing employment generation and empowering youth for nation-building.
EPFO’s participation underscores its dedication to transparent and merit-based recruitment, leveraging modernized processes to enhance service delivery. The new recruits will have access to training through the iGOT Karmayogi platform, besides formal training enabling them to upskill and excel in their roles.
EPFO said it extends its congratulations to all appointees and reaffirms its resolve to foster a future-ready workforce that drives India’s social security framework towards greater heights.
Business
Steel backbone of our economy, coal and mines strong foundation: G Kishan Reddy

Mumbai, April 26: Steel serves as the backbone of India’s economic progress and a vital enabler of the national vision for ‘Viksit Bharat 2047’, Union Minister of Coal and Mines, G Kishan Reddy, said on Saturday.
Addressing the 6th edition of ‘Steel India 2025’ here, the minister highlighted how India is setting new global benchmarks in infrastructure development, from the Chenab Bridge in Jammu and Kashmir, the world’s highest railway bridge, to the historic Pamban Bridge in Tamil Nadu — all made possible by the growing strength of the steel sector.
Every milestone in the nation’s infrastructure journey, he remarked, is forged in steel — reflecting the momentum and aspirations of a Nation on the move.
Reddy further stated that India’s steel sector has grown at an impressive pace in recent years, positioning the country as the second-largest steel producer globally.
Citing the words of Prime Minister Narendra Modi, the minister referred to steel as India’s “Sunrise Sector” — a key driver of domestic consumption, industrial expansion and self-reliance through the Atmanirbhar Bharat Abhiyaan.
Reddy expressed confidence that through close collaboration between the Centre, state governments and industry stakeholders, India will not only meet its raw material requirements domestically but also emerge as a global leader in sustainable, self-reliant steel production.
He urged all participants at the conference to contribute actively to shaping policies that will secure a greener and more resilient future for the nation’s steel ecosystem.
The Union Minister emphasised that if steel forms the backbone of India’s economy, the coal and mining sector represents the strong foundation on which it rests.
He highlighted the importance of raw material security, especially in the context of the current session on Raw Material Strategy and the Shift in Raw Material Mix.
Ensuring the availability of critical raw materials like iron ore, coking coal, limestone, and essential alloying elements such as manganese, nickel, and chromium, he noted, is both an economic necessity and a strategic imperative.
India recently achieved a landmark milestone of 1 billion tonnes of coal production and dispatch in the last financial year — a transformative step toward national energy security.
While efforts to enhance renewable energy are underway, the minister reaffirmed that coal will remain central to India’s energy and industrial landscape in the foreseeable future.
Focusing on coking coal, a critical input in steel manufacturing, Reddy pointed out that it constitutes nearly 42 per cent of steel production costs. India currently imports around 85 per cent of its coking coal needs, rendering the industry vulnerable to international price volatility and supply chain disruptions.
The minister called upon private stakeholders to actively participate in washeries, beneficiation plants, and block auctions. Pulverised Coal Injection (PCI) trials using domestic coal have already shown promise for import substitution, and greater innovation in beneficiation can further improve outcomes.
The minister also emphasised the importance of timely utilisation of greenfield mines, as reiterated by the Prime Minister.
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