Digital Payments Boom 🚀
Your daily dose of business news
🗞️ Digital Payments Surge 10.7% in FY25 – RBI Data
Digital payments in India rose 10.7% year‑on‑year by end‑March, underpinned by robust growth in UPI, card transactions, and growing merchant acceptance. This reinforces the shift toward a digitally-driven economy.
💬 Expert Take:
"This trend confirms that digital is India’s payment backbone—FIs and fintech should now focus on Bharat adoption." — Rina Shah, Fintech Advisor
🗞️ Bharat Electronics Q1 PAT Up 25% to ₹969 Cr
Bharat Electronics Ltd (BEL) delivered strong Q1 performance, with net profit up 25% YoY at ₹969 crore and revenue rising 5% to ₹3,915 crore, led by clearly growing defence orders.
🗞️ TCS Layoffs Spark Broader IT Sector Concern
TCS’s recent layoffs have sent ripples across India’s IT industry, raising red flags about automation-led optimisation, margin pressures and corporate restructuring ahead.
🗞️ SBI Tops List: ₹67,000 Cr in Unclaimed Deposits to Go to Government
State Bank of India transferred the most among banks in a ₹67,000 crore bulk move of unclaimed deposits to the RBI’s Depositor Awareness Fund, as citizens remain unaware of long-unclaimed balances.
🗞️ Starlink Capped at 20 Lakh Connections in India
Union Minister clarified that Starlink’s operations in India will be capped at only 20 lakh user connections, ensuring minimal competitive threat to incumbent telecom operators.
🗞️ US Drops Tariff Ultimatum, No Extensions Offered
The US government has rescinded its August 1 tariff ultimatum without offering any grace period, keeping global trade negotiations on edge as uncertainty persists.
🗞️ India-UK Trade Deal Could Cost ₹4,060 Cr in Year 1
GTRI estimates suggest India may forego ₹4,060 crore in revenue in the first year of its free trade agreement with the UK.
💬 Expert Take:
"While revenue dip is real, improved market access can amplify export growth over time." — Anil Bhasin, Trade Consultant
🗞️ Individual Taxpayers & HUFs Claim Majority of Govt Deductions
Finance Ministry data shows that individuals and Hindu Undivided Families received most of FY25 tax deductions and exemptions, suggesting skewed benefit distribution.
📊 Market Updates
📉 Sensex: 80,891.02 ▼ −0.70%
📉 Nifty 50: 24,680.90 ▼ −0.63%
💵 USD/INR: ₹86.42 ▶ stable
🪙 Gold (24K): ~₹99,050 / 10g ▶ steady
🪙 Silver: ~₹1,13,900 / kg ▼ slight dip
🛢️ Brent Crude: ~$84.10/bbl ▲ +0.2%
₿ Bitcoin: ~$108,500 ▲ +0.3%