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First Post
20 hours ago
- Business
- First Post
UPI transactions to Repo & Trep trading: 7 money rules that change from August 1
Starting tomorrow, many financial rules for UPI transactions and trading will change. Here is a complete list. read more A host of rules related to UPI transactions and trading are set to change from Friday (August 1). These rules concern the operations of the United Payments Interface (UPI), the direct payment system that powers popular apps like PayTM and PhonePe. These rules also concern some aspects of trading. Here is a list of rules set to change from tomorrow. 1. UPI balance inquiry Users will be able to check their balance on their UPI apps for a maximum of 50 days per day. STORY CONTINUES BELOW THIS AD 2. Automatic payments Automatic payments like SIPs (systematic investment plan) and subscriptions for streaming services will only be processed outside of peak hours, which have been defined as 10 am to 1 pm and 5 pm to 9:30 pm. 3. Balance updates Banks will be required to send balance updates after every transaction. The idea is that this will ensure that users do not have to check their balance themselves repeatedly. 4. New trading hours The government has set new trading hours for market repo and Tri-Party Repo (TREP) operations. While repo and TREP trading now closes at 2:30 pm, it will stay open till 4 pm starting tomorrow. 5. UPI guidelines for credit lines Starting August 31, users will be allowed to link pre-sanctioned credit lines backed by fixed deposits (FDs), shares, bonds, gold, property, personal/business loans, etc, to UPI. All platforms have been asked to put in place infrastructure before August 31 for the same. Under the new regime, users will be able to make P2P, P2PM, merchant payments (P2M), and cash withdrawals via UPI with daily limits of Rs 1 lakh for payments, ₹10,000 for cash withdrawals, and up to 20 P2P transfers. 6. Limits on linked accounts' checking Users can check bank accounts linked to their UPI only 25 times a day on an app starting tomorrow. STORY CONTINUES BELOW THIS AD The idea is to avoid excessive checking to prevent straining the backend infrastructure. 7. Delayed transaction status update Payment service providers will wait before checking if a transaction has gone through.
Mint
5 days ago
- Business
- Mint
Received approval from board to raise ₹5,000 cr: Indian Bank MD & CEO
Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise ₹ 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise ₹ 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about ₹ 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. "Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around ₹ 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save ₹ 12 crore per month (around ₹ 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. "By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to ₹ 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of ₹ 2,403 crore in the corresponding quarter of last financial year. "The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, "We have given guidance of ₹ 5,500 to ₹ 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered ₹ 2,059 crore. It is a good one".
Mint
5 days ago
- Business
- Mint
Received approval from board to raise ₹5,000 cr: Indian Bank MD & CEO
Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise ₹ 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise ₹ 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about ₹ 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. "Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around ₹ 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save ₹ 12 crore per month (around ₹ 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. "By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to ₹ 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of ₹ 2,403 crore in the corresponding quarter of last financial year. "The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, "We have given guidance of ₹ 5,500 to ₹ 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered ₹ 2,059 crore. It is a good one". The total income of the bank grew to ₹ 18,721 crore during the April-June 2025 quarter from ₹ 16,945 crore registered in the corresponding quarter of last financial year.
Time of India
23-07-2025
- Business
- Time of India
Catching the AI slipstream
The world may be treating AI like an awkward dinner guest, but 44% of Indians have already invited it to move in permanently. According to the Reuters Institute's Digital News Report 2025, Indians are the biggest consumers of AI-related news. This means that hybrid teams and prompt engineering are turning AI from competitor to collaborator. The transformation is already here. For CMOs, this is the new Monday morning reality. As Indians increasingly use these platforms for news consumption and AI becomes more embedded in brand communication, we asked leading marketing executives two questions: Are you rethinking your content and messaging strategies to be more relevant in AI-driven environments? Do you see the CMO role evolving into a more tech-oriented one? Ashwin Moorthy, CMO, India, Godrej Consumer Products 'AI's impact on marketing will be seismic, disrupting the entire value chain — from consumer research to pricing decisions. Sophisticated pattern recognition and data analysis capabilities will transform everything. 'CMOs need to understand AI applications and work with partners who build solutions, not necessarily LLM technicalities. Critical concerns include data security with ring-fenced ecosystems and preventing data hallucinations. My biggest worry: Junior marketers becoming AI-dependent — they may not develop the intuition needed for senior-level decisions.' Sidharth Shakdher, CMO, PayTM 'The CMO's role is becoming highly tech-oriented, evolving from traditional marketing to autonomous AI-driven systems. Unlike previous digital marketing phases, AI represents technology that thinks and acts independently. 'Modern CMOs must control and harness these autonomous AI agents across different marketing channels and functions. The challenge is building systems to monitor, measure and control this autonomous thinking while maintaining oversight of AI-driven marketing tasks.' Jan Bures, EVP, sales, marketing and digital, Skoda Volkswagen 'AI is crucial for our messaging strategy across Skoda, Volkswagen, Audi, Lamborghini, Porsche and Bentley. We use AI for analytics, trend analysis and content creation. It helps us reach broader audiences and connect with people in areas we wouldn't normally access. When you integrate AI-relevant content into messaging, you achieve higher reach and engagement. We recognise that everything digital leaves traces, so we must work with AI rather than ignore it.' Raj Rishi Singh, CMO, MakeMyTrip 'The CMO's role is undeniably evolving in the age of AI. Consumer journeys are evolving and we have to constantly reimagine and reshape our engagement strategy, both on and off our apps. Today, we have the power to hyper-personalise creatives and be contextually relevant across platforms and moments, in ways that were unimaginable a few years ago. 'Marketing today is both an art and a science. While creativity and storytelling remain as important as ever, understanding data, leveraging technology and orchestrating real-time experiences have become equally essential. We're actively preparing for this shift by investing in tech capabilities within our marketing teams, fostering closer collaboration with product and data science, continuously rewiring our playbook to stay ahead of the curve.' Pawandip Singh, vice-president, marketing, Rapido 'Today's CMOs must balance technology with storytelling. I'm equipping all teams — brand, copy, design, video — with AI capabilities that unlock creativity and streamline production. AI helps tailor messaging, enhance visual identity and produce engaging video at scale. Through accessibility and continuous upskilling, our teams remain agile. My goal is to merge human creativity with AI-driven insights for more relevant, memorable brand experiences.' Zubin Kutar, head of digital marketing, Mahindra Holidays & Resorts 'AI tools are becoming primary information touchpoints, not just search alternatives. Traditional content structures won't work — we need AI-readable, concise and context-rich inputs. 'Modern CMOs must understand AI tool stacks, prompt engineering and automation flows, blending creative and systems thinking. This requires AI upskilling across teams, running prompt labs and closer collaboration with product and data teams. AI is both a challenge and an opportunity.' Maneesh Krishnamurthy, head of marketing, eyewear division, Titan Company 'New-age consumers increasingly use AI platforms for news and research. We measure our share of voice in AI environments and adjust content accordingly. 'We built Gen AI capabilities in-house a year ago — now over 50% of our advertising and content is AI-generated. Generative AI has multiplied possibilities for consumer engagement, bringing speed and flexibility to our teams while maintaining competitive advantage.' Deepika Deepti, head of marketing, Bata India 'CMO roles are evolving into hybrid tech-oriented leaders, as AI transforms brand communication efficiency. We're upskilling in-house and extended teams, making careful martech tool choices and collaborating closely with tech and data teams. 'We've established governance for ethical, brand-safe AI use. The shift enhances creativity through smarter, faster, more precise marketing. We're not preparing for this shift — we're already implementing it successfully.' Gaurav Agarwal, co-founder, Tata 1mg 'Healthcare content is shifting from keyword-based to Q&A approaches, requiring more referenced, up-to-date data. We've always followed Q&A-based content with deep FAQs on medicines and healthcare topics. 'Our content has been living and breathing rather than static. AI acceleration means going deeper, refreshing faster and making questions more conversational. The CMO role has been transitioning to tech-oriented for years, and AI is accelerating this evolution.' Prashant Sharma, CMO, TMRW 'As AI becomes central to Indian information consumption, CMO roles are evolving from creative-focused to tech and data-led. We must design adaptive, real-time brand experiences that AI platforms understand and amplify. 'We're investing in AI literacy across teams, building agile content frameworks and partnering with tech. Tomorrow's CMO blends creativity with technological expertise, using AI to predict needs, personalise at scale and drive precise growth.' Sai Narayan, CMO, 'Technology is our growth accelerator. The CMO's role is intertwining with product, tech and data functions, as AI reshapes consumer engagement. Modern CMOs must think like technologists. Marketing now involves real-time experience delivery and automation alongside storytelling.'
Mint
03-06-2025
- Business
- Mint
New HDFC credit card rules: Utility payments beyond limit to face extra charges
HDFC Bank has announced a slew of changes in its credit card transactions that include new charges on wallet loading using third party apps, online skill-based gaming transactions and utility payments beyond the specified limit. The revised charges will be applicable from July 1. 'If you load third-party wallets with more than ₹ 10,000 per month on platforms like (but not limited to) PayTM, Mobikwik, Freecharge, or Ola Money using your credit card, a 1% charge will apply,' HDFC Bank said in its communication to credit card customers. 'The charge will be applicable on the entire wallet loading spend for the month and will be capped at ₹ 4999 per month,' it said. For utility transactions, a charge of 1% will apply if you spend more than ₹ 50,000 per month using your personal credit card (consumer cards). The 1% charge will apply if you spend more than ₹ 75,000 per month using business credit cards. 'The charge will be applicable on the entire utility spend for the month and will be capped at ₹ 4999 per month,' HDFC Bank said. 'Insurance transactions won't be considered as utility transactions hence no charge will be applicable,' it said. The bank has also capped reward points on insurance transactions on its popular credit cards. While the reward points on insurance transactions has been capped at 10000 per month on Infinia and Infinia Metal credit cards, it has been fixed at 5000 per month for Diners Black, Diners Black Metal and Biz Black Metal cards. For all other cards, the limit has been fixed at 2000 per month. Marriott Bonvoy cards, however, will not have capping on reward points for insurance transactions. HDFC Bank has fixed the maximum charge per transaction for rent, fuel and education categories at ₹ 4999. 'Kindly note that the existing charge of 1% will continue to be applicable on all rent transactions, only on fuel transactions more than ₹ 15000/ ₹ 30000 per transaction and only on education transactions done via third-party apps,' it said. 'If you make payments through college/school websites or their POS (Point of Sales) machines, there will be no charges,' HDFC Bank said. 'If you spend more than ₹ 10,000 per month on platforms like (but not limited to) Dream11, Rummy Culture, Junglee Games, or MPL, a 1% charge will apply,' the bank said. 'The charge will be applicable on the entire online skill-based gaming spend for the month and will be capped at ₹ 4999 per month. No reward points will be earned on online skill-based gaming transactions,' it said. Allirajan M is a journalist with over two decades of experience. He has worked with several leading media organisations in the country and has been writing on mutual funds for nearly 16 years.
