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Paytm swings into black, makes Rs 123 crore net profit in Q1 of FY26
Paytm swings into black, makes Rs 123 crore net profit in Q1 of FY26

New Indian Express

time13 hours ago

  • Business
  • New Indian Express

Paytm swings into black, makes Rs 123 crore net profit in Q1 of FY26

MUMBAI: One 97 Communications, the parent company of Paytm, has reported a consolidated net profit of Rs 123 crore in the June quarter as against a net loss of Rs 839 crore a year ago, boosted by strong lending business that helped it report Rs 1,918 crore in revenue, up 28%, and a tight leash on expenses. The year-ago quarter saw the company taking the full impact of the RBI direction, which came into force from mid-February 2024, to shutter its key payments business for not properly following the KYC norms and a host of other failures despite repeated warnings. Operating revenue for the quarter stood at Rs 1,918 crore, growing 28% on-year and marginally up from Rs 1,911 crore in Q4 of FY25. Total income, which includes other income, rose to Rs 2,159 crore. Contribution profit (sales revenue minus all variable costs) rose 52% to Rs 1,151 crore, with contribution margin expanding to 60%, up from 50% a year earlier. Total expenses came in at Rs 2,016 crore, 19 percent lower than Rs 2,476 crore in the year-ago period, aided by tighter control over employee and marketing spends. Net payment revenue rose 38% to Rs 529 crore, driven by an expanding base of high-quality subscription merchants and better payment processing economics, the company said in a statement Tuesday.

Mutual Fund KYC process got simplified: Now complete your KYC at your nearest Post Office
Mutual Fund KYC process got simplified: Now complete your KYC at your nearest Post Office

Time of India

time5 days ago

  • Business
  • Time of India

Mutual Fund KYC process got simplified: Now complete your KYC at your nearest Post Office

Academy Empower your mind, elevate your skills What is KYC? Which documents are accepted as Proof of Identity (PoI) and Proof of Address (PoA)? How to check your mutual fund KYC status New KYC rules for mutual fund investors What does each KYC status imply? Now, the Department of Posts (DoP) will provide Know your customer (KYC) verification and document collection services through its post offices for mutual fund investors. This enables postal employees to assist investors in completing KYC forms, verifying and attesting self-attested documents, and transferring them to Asset Management Companies (AMCs).According to a release on July 17, 2025, 'The Department of Posts signed an Memorandum of Understanding (MoU) with the Association of Mutual Funds in India ( AMFI ) to offer KYC verification and document collection services through its 1.64 lakh+ post offices, ensuring smooth compliance for mutual fund investors.'AMFI will facilitate this initiative on behalf of its member AMCs to achieve 'KYC Validated' status for investors in the records of KYC Registration Agencies (KRAs).Also read: Mutual fund KYC status: Meaning of validated, verified, registered KYC and how it impacts for MF investments Know Your Client (KYC) means identifying and verifying the client's identity and the identity of the beneficial owner through documents submitted for Proof of Identity (PoI) and Proof of Address (PoA) and compliance with rules, regulations, guidelines and circulars issued by the Board or any other authority for Prevention of Money Laundering from time to following documents are acceptable as PoI and PoA:i. the passport;ii. driving licence;iii. proof of possession of Aadhaar number;iv. the Voter's Identity Card issued by Election Commission of India;v. job card issued by NREGA duly signed by an officer of the State Government;vi. the letter issued by the National Population Register containing details of name address; orvii. any other document as notified by the Central Government in consultation with the any mutual fund website or register and transfer website where you have an investmentCheck for KYC status linkEnter your 10-digit PANYour KYC status will be displayed as validated/ registered/on hold /rejectedThe new rules for Know-Your-Customer (KYC) standards for mutual funds, which came into effect on April 1, 2024, impact how easily a person can invest in mutual fund your KYC status is KYC Validated, you can do any your KYC status is registered, you can do transactions such as purchases, redemptions, switches, SIPs, etc. in all your existing mutual fund investments without any if you want to invest in a mutual fund where you don't have any investment already, you will have to do your KYC once your KYC status is KYC on hold or rejected, the website will show the reason for 'KYC On-Hold'/Rejected status; it could be: mobile or email not validated, PAN is not linked with Aadhaar or deficiency in the KYC documents, will have to fix the reason for your KYC by understanding why it was put on hold or rejected.

KYC calls for safer school spaces in Sabah
KYC calls for safer school spaces in Sabah

Daily Express

time5 days ago

  • Daily Express

KYC calls for safer school spaces in Sabah

Published on: Friday, July 18, 2025 Published on: Fri, Jul 18, 2025 Text Size: Pic by Freddie Anthony Jacob KOTA KINABALU: The Kadazan Dusun Cultural Association (KDCA) Youth Council (KYC) has expressed concern over a recent incident involving a secondary school student in Sabah. KYC chairman Steve Johnny Mositun ( pic ) said the council's thoughts are with the student, their family, and others affected, adding that healing and support are crucial at this time. Advertisement He stressed that KYC takes all bullying-related reports seriously and supports efforts to maintain safe and nurturing school environments. The council also called on schools and communities to encourage open conversations where students feel safe to speak without fear. Mositun said peer support systems, trained counsellors, and early intervention mechanisms must be strengthened in every school. He urged collaboration among parents, teachers, and students to build a culture rooted in empathy, inclusion, and respect. KYC pledged its continued support for awareness campaigns and youth-led efforts to address bullying across Sabah. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

CBI uses image search tools to trace, arrest fugitive after 20 years in Karnataka
CBI uses image search tools to trace, arrest fugitive after 20 years in Karnataka

New Indian Express

time5 days ago

  • New Indian Express

CBI uses image search tools to trace, arrest fugitive after 20 years in Karnataka

BENGALURU: The Central Bureau of Investigation (CBI) arrested Mani M Sekhar, a long-absconding proclaimed offender in a Rs 8-crore bank fraud case, nearly two decades after the crime. The central agency used advanced image search tools and analytical capabilities to track the digital footprints of the absconder, who was living under a pseudonym in Indore, Madhya Pradesh. The case was registered at Central Bureau of Investigation, Bank Security and Frauds Cell (BSFB), Bengaluru, on August 1, 2006, against Ramanujam Muthuramalingam Sekhar alias RM Sekhar, managing director, Indo Marks Pvt Ltd, and his wife Mani Sekhar, director, Indo Marks & BTC Home Products Pvt Ltd, for having 'entered into a criminal conspiracy between 2002 and 2005 and dishonestly and fraudulently cheating State Bank of India, Overseas Branch, Bengaluru, to the tune of Rs 800 lakh through the misuse of non-fund-based limits in the name of Indo Marks Pvt Ltd and its sister concerns', a CBI release said on Thursday. The agency had filed the chargesheet on December 10, 2007. 'Both the accused had failed to join the trial or respond to summons/warrants. Subsequently, they were declared proclaimed offenders on February 27, 2009,' added the Central Bureau of Investigation. Despite sustained efforts over the years to trace them, the absconding accused had remained untraceable, prompting CBI to announce a reward of Rs 50,000 each for clues to informers. While other co-accused were tried and convicted/acquitted in the case, the trial against the couple remained pending. 'The accused persons had changed their identities and never used the old KYC details. They changed their names to Krishna Kumar Gupta (for the husband) and Geetha Krishna Kumar Gupta (for the wife), their mobile numbers, emails, PAN numbers and other information, which were used before the charge sheet was filed,' the CBI stated. The use of advanced digital tools and analytical capabilities led to the identification of the accused living under changed names and identities in Indore. With photo matching levels of more than 90 per cent, the image search tools enabled accurate identification despite their assumed identities. During the operation, Central Bureau of Investigation officials discovered that RM Sekhar had died in 2008 while living under his assumed identity. However, Mani was located and arrested on July 12. She was produced before a court in the city, which remanded her in judicial custody.

CBI nabs fugitive woman from Indore after nearly two decades of chase
CBI nabs fugitive woman from Indore after nearly two decades of chase

News18

time5 days ago

  • News18

CBI nabs fugitive woman from Indore after nearly two decades of chase

Agency: Last Updated: July 17, 2025, 19:45 IST Representational image (Image: News18) New Delhi, Jul 17 (PTI) After a long manhunt of nearly two decades, the CBI has arrested wanted proclaimed offender Mani M. Sekhar in a Rs 8 crore bank fraud case from Indore where she was living under an assumed identity, officials said Thursday. She was chargesheet by the CBI along with her husband Ramanujam Muthuramalingam Sekhar in 2007 in Bengaluru for misappropriating the loan funds from the State Bank of India using a web of deceit and fraudulent documentation between 2002 and 2005 through their companies Indo Marks Pvt. Ltd. and its affiliated entity, BTC Home Products Pvt. Ltd, the agency alleged. When it came to trial, the couple vanished into thin air prompting the special court to declare them proclaimed offenders in 2009. 'Despite sustained efforts over the years to trace them, these absconding accused had remained untraceable, prompting CBI to announce a reward of Rs. 50,000 each for clues to informers. While other co-accused were tried and convicted and acquitted in the case, the trial against these two absconding accused remained pending," CBI's spokesperson said in a statement. The trail also went cold till now when CBI used its sophisticated image search analytics software delivering the results with almost 90 per cent accuracy followed by a covert and meticulous field verification to confirm the results, officials said. It emerged during investigation that the couple had reinvented themselves as Mr and Mrs Krishna Kumar Gupta, comfortably settling in Indore. They had abandoned all previous identifiers — names, contact details, PAN cards, and even biometric-linked records and had never used old KYC records since fleeing from Bengaluru. 'They changed their names to Krishna Kumar Gupta (husband) and Geetha Krishna Kumar Gupta (wife), their mobile numbers, emails, PAN numbers and other information which were used before the charge sheet was filed," the statement said. But using sophisticated image comparison algorithms, the CBI managed to compare old photographic records with contemporary data sources, leading to a more than 90 per cent match. This was followed by field verifications by a special operations team of the agency in Indore. Swipe Left For Next Video View all It also emerged during verification that her husband had passed away in 2008 while living under his fabricated persona. 'Mani M. Sekhar was finally arrested on July 12 and produced before a court in Bengaluru which remanded the accused in judicial custody for further trial proceedings. Currently, the accused is facing trial after absconding for nearly two decades," the spokesperson said. PTI ABS ZMN (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments News agency-feeds CBI nabs fugitive woman from Indore after nearly two decades of chase Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

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