Latest news with #Mathur
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Business Standard
11 hours ago
- Business
- Business Standard
RazorpayX puts artificial intelligence in CFO's corner before market debut
Razorpay is positioning its business banking platform as an artificial intelligence (AI)-powered assistant to chief financial officers (CFOs). The move comes as India's financial technology 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, in India and processes $30 billion in annualised transaction volume while 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 initial public offering (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 cofounder of Razorpay. 'Your CFO's 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. 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, moving even faster than its payments platform. An 85 per cent growth rate allows the company to grow faster as an organisation rather than just as 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 — not just as a payments company, but as 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 12-18 months. The revenue of Razorpay, founded by Indian Institute of Technology Roorkee graduates Harshil Mathur and Shashank Kumar in 2014, increased 9 per cent to ₹2,501 crore in 2023-24, 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 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. Razorpay is positioning itself for its next phase of growth by expanding globally. A key focus area is the firm's push into cross-border payments, an extension of its existing RazorpayX platform. 'One of the areas we're going deeper into now is global payouts — cross-border flows, enabling cross-border disbursements and acceptance as well,' Mathur said.
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Business Standard
16 hours ago
- Business
- 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.
Time of India
5 days ago
- Business
- Time of India
Commodity Radar: Crude oil's 3-month run raises profit-taking calls. Sell on rise
Crude oil extended its 3-month rally but faces headwinds from OPEC's September output hike and weak US jobs data. Analysts suggest a 'sell on rise' strategy amid bearish technical indicators, tariff threats, and geopolitical risks clouding the global oil market outlook. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Technical view Trading strategy Tired of too many ads? Remove Ads Crude oil prices were in the green zone on Wednesday, taking cues from the trends in the international market. The prices have been under pressure on the back of OPEC's agreement to increase oil output from September. Moreover, lower-than-estimated US payroll data has also raised concerns over the economic situation in the world's largest MCX August oil futures were trading at Rs 5,762 per bbl, up by Rs 14 or 0.24% over the Tuesday closing price. Meanwhile, on the COMEX, crude oil futures were hovering around $65.58, up by $0.42 or 0.64% and the Brent oil contracts were trading at $68.09, up by $0.45 or 0.67%.Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said that the softer jobs data coupled with OPEC's aggressive output hike decision has put pressure on the oil prices.'In July, crude oil closed higher for the third straight month but got stuck in a broad trading range of $65–$70 per barrel, as low inventories, declining rig counts, and geopolitical tensions offset economic slowdown fears. WTI ended the month up 6.4% at $69.26, while MCX crude gained 8.4% as rupee depreciation added to the gains in the India market,' Mathur Crude sanction threats have lifted the supply premium, with President Donald Trump's repeated threats of 100% secondary sanctions on China and to 2.75 million bpd of Russian oil is at risk, this analyst said, adding that there isa possibility of U.S. action on Russian oil, including secondary sanctions from August approved a 547,000 bpd output hike for September, completing the reversal of 2023 cuts ahead of schedule, but left the fate of another 1.66 million bpd offline supply uncertain. The move adds pressure on an already fragile market, risking a Q4 surplus.'Heading into August, markets eye OPEC+'s final output hike in September, with a pause expected till 2026 as the group assesses U.S. tariff s and China's weak economy. Meanwhile, Trump's 25% tariff on Indian goods and penalty threats over Russian oil imports have rattled Indian refiners, potentially tightening global supply if Russian crude flows are disrupted,' Mathur U.S. oil stockpiles near 5-year lows and rig counts falling, supply pressure may ease. However, with summer demand fading, prices may stay in check unless fresh geopolitical shocks crude oil is currently trading below its 200-day moving average at Rs 5,900, indicating a bearish undertone, and if the prices stay below this level, further downside momentum could emerge, Mathur said, with immediate support seen near Rs 5, indicators like MACD and RSI are also signalling overall trend remains weak, and the market is expected to stay range-bound between Rs 5,500 and Rs 6,000, the Anand Rathi analyst recommends a sell-on-rise strategy on MCX crude oil contracts with short positions around Rs 5,850, a stop loss of Rs 5,950 and targets of Rs 5,600 and Rs 5, the international front, WTI crude is struggling near $65.50, showing a sideways-to-bearish bias, and is likely to trade within the $64 to $68 range.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
5 days ago
- Business
- Economic Times
Commodity Radar: Crude oil's 3-month run raises profit-taking calls. Sell on rise
Live Events Technical view Trading strategy (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Crude oil prices were in the green zone on Wednesday, taking cues from the trends in the international market. The prices have been under pressure on the back of OPEC's agreement to increase oil output from September. Moreover, lower-than-estimated US payroll data has also raised concerns over the economic situation in the world's largest MCX August oil futures were trading at Rs 5,762 per bbl, up by Rs 14 or 0.24% over the Tuesday closing price. Meanwhile, on the COMEX, crude oil futures were hovering around $65.58, up by $0.42 or 0.64% and the Brent oil contracts were trading at $68.09, up by $0.45 or 0.67%.Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said that the softer jobs data coupled with OPEC's aggressive output hike decision has put pressure on the oil prices.'In July, crude oil closed higher for the third straight month but got stuck in a broad trading range of $65–$70 per barrel, as low inventories, declining rig counts, and geopolitical tensions offset economic slowdown fears. WTI ended the month up 6.4% at $69.26, while MCX crude gained 8.4% as rupee depreciation added to the gains in the India market,' Mathur Crude sanction threats have lifted the supply premium, with President Donald Trump's repeated threats of 100% secondary sanctions on China and to 2.75 million bpd of Russian oil is at risk, this analyst said, adding that there isa possibility of U.S. action on Russian oil, including secondary sanctions from August approved a 547,000 bpd output hike for September, completing the reversal of 2023 cuts ahead of schedule, but left the fate of another 1.66 million bpd offline supply uncertain. The move adds pressure on an already fragile market, risking a Q4 surplus.'Heading into August, markets eye OPEC+'s final output hike in September, with a pause expected till 2026 as the group assesses U.S. tariffs and China's weak economy. Meanwhile, Trump's 25% tariff on Indian goods and penalty threats over Russian oil imports have rattled Indian refiners, potentially tightening global supply if Russian crude flows are disrupted,' Mathur U.S. oil stockpiles near 5-year lows and rig counts falling, supply pressure may ease. However, with summer demand fading, prices may stay in check unless fresh geopolitical shocks crude oil is currently trading below its 200-day moving average at Rs 5,900, indicating a bearish undertone, and if the prices stay below this level, further downside momentum could emerge, Mathur said, with immediate support seen near Rs 5, indicators like MACD and RSI are also signalling overall trend remains weak, and the market is expected to stay range-bound between Rs 5,500 and Rs 6,000, the Anand Rathi analyst recommends a sell-on-rise strategy on MCX crude oil contracts with short positions around Rs 5,850, a stop loss of Rs 5,950 and targets of Rs 5,600 and Rs 5, the international front, WTI crude is struggling near $65.50, showing a sideways-to-bearish bias, and is likely to trade within the $64 to $68 range.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Business Standard
7 days ago
- Health
- Business Standard
India doctors report discovery of new blood group CRIB, rarest in the world
In a ground-breaking medical discovery, Indian doctors have identified a blood group never seen before anywhere in the world. Dubbed CRIB, this ultra-rare blood type was discovered in a 38-year-old woman from Kolar, Karnataka, during preparations for a routine heart surgery - catapulting her case into the global spotlight for its uniqueness and raising critical questions about rare blood group awareness. Although her known blood type was O Rh-positive, none of the available O-positive blood units matched. The hospital then referred the case to the Advanced Immunohematology Reference Laboratory at the Rotary Bangalore TTK Blood Centre for further testing. Dr Ankit Mathur from the Rotary Bangalore TTK Blood Centre told The New Indian Express that using advanced serological techniques, his team found that her blood was 'panreactive', incompatible with all test samples. 'Recognising this as a possible case of a rare or unknown blood type, the team collected blood samples from 20 of her family members to search for a compatible match, but none of them were a match. The case was managed with utmost care, and with collaborative effort from her physicians and family, her surgery was successfully completed without the need for transfusion,' said Mathur. Her and her family's blood samples were later sent to the International Blood Group Reference Laboratory (IBGRL) in Bristol, UK, for further analysis. What is the CRIB blood group? CRIB stands for a previously unrecorded antigen profile that does not match any of the 43 known blood group systems recognised by the International Society of Blood Transfusion (ISBT). CRIB stands for 'Chromosome Region Identified as Blood group. ' It belongs to the INRA (Indian Rare Antigen) blood group system, officially recognised by the ISBT in 2022. What makes CRIB unique is the absence of a common antigen found in most people. The cause was traced to a previously unknown antigen in the Cromer blood group system, which is linked to proteins on red blood cells. Such uniqueness presents significant medical challenges: No compatible donor found. In emergencies, the patient cannot receive standard blood transfusions. Pregnancy, surgeries, or accidents may pose critical risks without a rare blood match. How rare blood groups are identified Globally, a blood type is considered rare if it affects one in every 1,000 people. Examples of rare blood types that lack common antigens include Rhnull, Bombay (Oh), and Jr(a-). In cases with rare blood types, a patient's family is more likely to share the same rare blood type than random donors. Some of these blood types are so rare that fewer than 10 registered donors exist worldwide. While the ISBT maintains a database of rare blood types and donors, international co-operation goes a long way to keep these databases updated and relevant. Implications for India's healthcare system The discovery of the CRIB blood group could trigger advancements in transfusion medicine, genetic research, and emergency preparedness. It places India at the forefront of global haematology research. This finding could also help in managing cases of Hemolytic Disease of the Fetus and Newborn (HDFN), a condition where a mother's antibodies attack her baby's red blood cells. Early detection of CRIB can help prevent serious complications during pregnancy.
