Explained: How MSCI reshuffle will impact Eternal, Swiggy shares
Swiggy is set to draw an estimated $293 million in fresh inflows, while Eternal is staring at estimated outflows of $571 million, stemming from MSCI's latest reshuffle of its Global Standard Index, changes that are effective as of the close of August 26, 2025.
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Business Standard
an hour ago
- Business Standard
Razorpay focuses on AI-powered banking tools ahead of planned IPO
Razorpay is positioning its business banking platform as an AI-powered assistant to chief financial officers. The move comes as India's fintech giant, valued at $7.5 billion, prepares for a public offering within 18 months and seeks to stand out in the neobanking market. RazorpayX now handles 5 per cent of all digital money transfers or Immediate Payment Service (IMPS) in India and processes $30 billion in annualised transaction volume, growing 85 per cent year-over-year. The platform automates financial tasks from cash flow forecasting to payroll reconciliation, making it Razorpay's fastest-growing division and a cornerstone of its IPO strategy. 'I don't think we're saying — even to an extent — that we're replacing a human CFO. The idea is to assist a human CFO,' said Harshil Mathur, chief executive officer and co-founder of Razorpay. 'Your CFO office doesn't need that many people. And we can give interesting, actionable insights to CFOs and financial decision-makers without having a large team.' Its AI-powered payroll system, built via Opfin, automates end-to-end processing and compliance, while detecting errors and predicting risks in real time. Machine learning models now drive smart reconciliation, matching invoices with transactions, spotting mismatches or duplicates, and slashing manual effort by over 80 per cent. The company recently launched an AI-driven 'Know Your Payslip' feature, where employees can ask questions about their payroll calculations, tax deductions, and salary components through a chatbot. 'We now have 'Smart AI-powered Cash Flow Forecasting', which is based on your income and expenses in your bank account. We can project cash flows in advance and give you financial decision flow,' said Mathur. More than 50,000 customers — including large firms such as Swiggy, Meesho, Cred, Upstox, and Bharti AXA Life Insurance — have adopted RazorpayX to streamline financial operations. Today, Mathur said 70 per cent of India's unicorns use RazorpayX for smarter and faster financial operations. The company processes 1.7 million salary disbursements every month, making it one of the largest payroll players in the country. One of the customers is gaming platform Zupee, which uses an AI-powered routing engine to deliver reward payouts to millions of users within seconds, maintaining a success rate of over 99.8 per cent. Razorpay recently launched the RazorpayX corporate credit card in partnership with Mastercard, RBL Bank, and Yes Bank, offering up to ₹2 crore credit to firms. IPO Strategy Mathur said that RazorpayX is becoming a higher growth engine for the firm that's moving even faster than its payments platform. An 85 per cent growth rate allows the company to have a much faster growth rate as an organisation rather than just a single entity. 'And I think from that perspective, heading into an IPO, we feel this adds a lot of value to our overall story as not just being a payments company, but a full-stack financial services firm,' said Mathur. Mathur said that two years ago, 90 per cent of the company's revenue came from payments. That figure has since dropped to 75 per cent, with RazorpayX and other services now contributing 25 per cent. He expects the split to shift further to 70:30 within the next 12 to 18 months. The revenue of Razorpay, founded by IIT-Roorkee graduates Harshil Mathur and Shashank Kumar in 2014, increased 9 per cent to ₹2,501 crore in the 2023-24 financial year, from ₹2,293 crore a year ago. Its net profit rose fivefold to ₹34 crore during the same period. The firm has an annualised total payment volume (TPV) of $180 billion. It is eyeing $1 billion in revenue by 2030. The reduced funding environment has actually benefited RazorpayX's growth. Mathur said that if there's too much funding available in the ecosystem, nobody really cares about optimisation. 'The last couple of years taught us that funding hasn't gone away—but it's available for the most optimised and prudent companies,' he explained. Razorpay competes with players like Stripe, PayPal, PayU, and Paytm. With the expansion of RazorpayX, the company is also entering territory traditionally dominated by established banks with long-standing regulatory ties and infrastructure. 'In India, I don't think anyone else is even close to what we are doing. We are clear market leaders in the payouts and disbursal category, and now we are adding an AI layer on top of it,' said Mathur. He said the company has a 150-member data team focused on leveraging RazorpayX's data to generate deeper, business-specific insights as part of its AI-driven initiatives. Global Expansion Mathur views regulatory changes from the Reserve Bank of India (RBI) as largely positive. "My belief is that what the RBI has been doing — or the regulator — is drawing the rules more clearly in terms of how different players can operate, and mostly it has been fairly positive," he said. RBI's recent move to open up cross-border payments under the 'payment aggregators cross-border' framework allows firms like Razorpay to facilitate both import and export transactions, expanding their role in global payments.
The Hindu
a day ago
- The Hindu
How student-run ESG funds teach sustainable investing
In business school, reading Environmental, Social, and Governance (ESG) case studies may introduce the concepts, but it does not replicate the real-world pressures of active investing. In today's classrooms, however, students are no longer passive learners but active investors, taking the reins of student-managed ESG funds. At many MBA programmes, students are deciding whether to back a promising energy start-up despite its murky supply chain or divest from a once-stable company now facing climate-related lawsuits. Simulated through student-run ESG funds, these choices are making sustainable investing a lived experience rather than an abstract concept. These initiatives immerse students in live decision-making with donor-backed capital or mock portfolios where every buy and sell carries reputational stakes. Students are placed squarely at the intersection of ethics, analytics, and risk, resulting in an education that's high-stakes while being hands-on at the same time. Experiential learning Starting out as extracurricular CSR clubs, experiential ESG has matured into a cornerstone of business education. A decade ago, sustainable investing was often a single elective or a guest lecture within traditional finance modules. Today, the process of building and managing ESG portfolios that rival professional standards is undertaken by entire cohorts. It reflects both corporate priorities and growing student demand. Programmes like NYU's Impact Investment Fund entrust students with actual donor capital and allow them to vet opportunities, perform due diligence, and track long-term performance. Competitions like the Turner Impact Portfolio Challenge have added a dynamic, competitive edge to ESG literacy. At the heart of these initiatives is a simple but powerful idea: learning by doing. MBA cohorts typically begin by allocating a simulated or real portfolio across sectors. They then apply ESG ratings from agencies such as MSCI and Sustainalytics. Thorough stakeholder mapping and an understanding of corporate net-zero targets is required for each investment decision. Regular reviews mimic real-world portfolio management, where teams must rebalance holdings in response to market shifts and ESG controversies. Faculty advisors push them to defend positions, manage compliance considerations, and consider risk-adjusted returns. Such immersive setups simulate the complex tensions between profit, ethics, and long-term impact. Informal incubators The results can be seen beyond the classroom. Many studies have reported improved job prospects for students involved in such programmes. The ripple effects also move into industry and society. Student-run funds influence asset managers and even corporate boards as their visibility increases. Companies are increasingly aware that tomorrow's leaders — trained through these ESG initiatives — will demand higher transparency and responsibility. These funds also serve as informal incubators for innovative ESG strategies, which often find their way into mainstream investment frameworks. The demonstrated success of student-run ESG funds shows that immersive learning can close the divide between theory and practice in powerful ways. But these programmes must scale — becoming more accessible across campuses and integrating interdisciplinary expertise from climate science to ethics — to truly prepare leaders for a decarbonising world. As ESG investing becomes more sophisticated, so too must the curricula that shape its stewards. The next frontier is clear: to empower every MBA student to understand sustainable finance and drive it forward with confidence, precision, and purpose. The writer is Dean at Badruka School of Management (BSM), Hyderabad.
Economic Times
a day ago
- Economic Times
Swiggy OTP scam alert: How alert one user outsmarted a delivery con
Synopsis A Swiggy user recently escaped a delivery OTP scam when a rider falsely claimed he needed the OTP to reassign her order. The user's refusal to share the code prevented fraud. The incident sparked social media discussion about delivery partner scams, the risks of sharing OTPs, and calls for Swiggy to improve safety measures. It highlights the thin line between convenience and security in online food deliveries. Reuters Swiggy gig workers assist another worker as he parks an electric three wheeler delivery scooter during a promotional event in Mumbai, India, October 14, 2024. REUTERS/Francis Mascarenhas/File Photo A Swiggy customer recently shared how she narrowly avoided being scammed by a delivery partner who tried to trick her into sharing the OTP. The incident reveals risks hidden in everyday online food user, who describes herself as a 'loyal Swiggy user,' ordered food from Taco Bell. Soon after, the restaurant called to inform her that the delivery agent was refusing to pick up the order. She assumed the order would be cancelled or another rider assigned. She said, 'I figured it'd get canceled or a new rider would be assigned.'What happened next surprised her. About 90 minutes later, she received a notification that the rider had 'arrived at doorstep.' But no food was delivered. Instead, the rider called her and asked for the OTP. The delivery person claimed, 'Swiggy needs the OTP to assign a new rider,' because he could not pick up the order bells rang. She refused to share the OTP, saying, 'customers aren't usually involved in rider reassignment. I told him to deliver first, then get the OTP.' The rider then hung up. When she contacted Swiggy support two hours later, she discovered the delivery agent had lied and falsely reported an accident that supposedly ruined the customer admitted how close she came to falling for the scam. 'I'm so used to giving OTPs over the phone for packages (Bluedart, Xpressbees etc.) when I'm working from office that I almost gave it out this time too.' This underlines the real danger when scammers exploit common trust around OTPs. The story quickly caught attention online, sparking user commented, 'Yeah there's always some bad actors like this in any system. You were smart to not give the OTP over phone.'Another shared a similar experience: 'Same thing happened to me once. The guy was saying that he isn't able to see the address on the map and needs otp. I said…. come to the location. Called the support and complained. They took it seriously and bashed him. He came, tried to downplay his crime and went quietly.'Others raised questions about the technical side, with one user asking, 'We can know where OTP is coming from by looking at name and text message around OTP I have questions did they duplicate Swiggy name handle and OTP text to access into whatever they wanted? ....how they can modify this in system.'Some criticised Swiggy for the long wait and lack of compensation. One comment read, 'You didn't get the food for more than 2 hrs. Honestly Swiggy shud double ur order price and give back, did they atleast refund the entire amt immediately?'Here's the thing: OTPs are meant to protect users but can become a weak link when misused. This incident shows how scammers try to manipulate trust and the system need to be alert, especially when delivery partners ask for OTPs over the phone. Companies like Swiggy must also strengthen their checks and ensure swift action against such online food delivery becoming a daily habit for millions, trust is the foundation. Stories like these remind us not to take that trust for granted. (Disclaimer: This article is based on a user-generated post on Reddit. has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of Reader discretion is advised.)
