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Month: September 2025

Technology

India Drives Meta’s $10 Billion Business Messaging Growth

Observenow Desk September 18, 2025

India has emerged as the leading market powering Meta’s $10 billion business messaging segment, driven primarily by WhatsApp’s paid messaging services and growing adoption among businesses. The company highlights that the country represents a major growth opportunity, with a significant portion of internet users yet to engage in online shopping.

Meta officials noted that Indian businesses are increasingly leveraging WhatsApp to connect with customers, facilitate transactions, and provide real-time support. Paid messaging solutions allow companies to scale communications while maintaining efficiency, contributing substantially to Meta’s revenue in the business messaging domain.

The growth in India reflects broader trends in digital commerce, as small and medium enterprises adopt messaging platforms to expand reach, enhance customer engagement, and streamline operations. With rising smartphone penetration and internet access, India continues to be a strategic market for Meta’s business-focused services.

Despite the strong uptake, Meta sees considerable untapped potential. A majority of Indian internet users have yet to shop online, indicating opportunities for businesses to integrate messaging with e-commerce, payment solutions, and customer service. This aligns with Meta’s strategy to develop tools that support digital transactions and business growth.

Analysts point out that India’s contribution to Meta’s business messaging segment underscores the country’s central role in the global digital economy. By offering innovative communication and commerce solutions, Meta is enabling businesses of all sizes to expand their digital presence while driving adoption of its paid services.

The company’s focus on India also emphasizes the need for localized solutions, tailored to meet the requirements of diverse industries and consumer preferences. As business messaging becomes increasingly central to digital commerce, India is expected to remain a key driver of Meta’s growth in this segment, reinforcing its position as a hub for innovation and business communication.

Tags: Meta

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BFSI

UCO Bank Cleared to Facilitate Trade Payments for Sanctioned Nayara Energy

Observenow Desk

UCO Bank has received government approval to facilitate trade payments for Nayara Energy, which is subject to sanctions by the European Union. The approval comes after major financial institutions avoided transactions with Nayara due to its partial ownership by Russian oil company Rosneft.

The decision enables UCO Bank to act as a channel for trade settlements, ensuring continuity of operations for Nayara Energy while adhering to regulatory guidelines. Operational details, including the choice of currency and transaction mechanisms, are currently being finalised by the bank and relevant authorities.

Officials noted that the move reflects the government’s efforts to safeguard domestic energy interests while navigating international sanctions frameworks. By allowing UCO Bank to support trade payments, India aims to maintain energy security and ensure uninterrupted supply chains for critical oil imports.

Industry analysts observe that such approvals are carefully structured to comply with national and international regulations, balancing the need for business continuity with sanctions obligations. UCO Bank’s role is expected to include monitoring transactions closely to ensure transparency and compliance.

The development also underscores the challenges faced by companies with partial foreign ownership in sanctioned sectors, as they often encounter difficulties in securing banking and trade services. By stepping in, UCO Bank provides a mechanism for Nayara Energy to continue operations without major disruptions.

While financial institutions globally remain cautious in dealing with sanctioned entities, this approval signals India’s intent to protect strategic economic and energy interests. It also highlights the evolving role of domestic banks in facilitating trade under complex international regulatory environments.

As the operational framework is finalised, UCO Bank’s facilitation is expected to stabilise trade flows for Nayara Energy, ensuring that the company can meet contractual obligations and sustain its business activities despite the EU sanctions.

Tags: Nayara EnergyUCO Bank

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BFSI

Satya Srinivas Appointed India’s Executive Director at ADB

Observenow Desk

Satya Srinivas has been appointed as India’s Executive Director at the Asian Development Bank (ADB), a role in which he will also represent Bangladesh, Bhutan, Laos, Tajikistan, and Turkmenistan. He succeeds Vikas Sheel and will continue to serve on a contract basis following his scheduled retirement in February 2026.

In his new position, Srinivas will play a key role in shaping the ADB’s engagement with member countries, providing strategic guidance on development projects, financial assistance, and regional cooperation initiatives. His appointment underscores India’s continued focus on strengthening its influence within multilateral financial institutions.

Officials noted that Srinivas brings extensive experience in public finance, international banking, and policy advisory roles, equipping him to effectively represent India and the other countries under his mandate. He is expected to oversee the ADB’s lending, investment, and technical assistance programs, ensuring alignment with development priorities and sustainable growth objectives.

The Executive Director role at ADB involves close coordination with stakeholders across South and Central Asia, promoting economic development, regional connectivity, and infrastructure investment. Srinivas will also be responsible for advocating the interests of the countries he represents, supporting projects that foster inclusive growth and social progress.

Analysts highlight that such appointments are crucial for maintaining India’s strategic presence in global financial institutions, influencing policy decisions, and advancing collaborative initiatives on regional development, climate action, and economic resilience.

By assuming this role, Srinivas will continue India’s tradition of contributing to multilateral development efforts, ensuring that the country’s priorities and perspectives are well represented at the ADB. His tenure is expected to strengthen partnerships, facilitate cross-border projects, and enhance cooperation among member nations.

The appointment reflects India’s commitment to leveraging experienced professionals in key international positions, reinforcing its influence in global economic governance and development finance.

Tags: Asian Development BankSatya Srinivas

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BFSI

SMFG India Credit, PhonePe Collaborate to Provide Loans to Micro-Merchants

Observenow Desk

SMFG India Credit has partnered with digital payments platform PhonePe to offer collateral-free loans to micro-merchants, with a particular focus on Tier-2 and Tier-3 cities. The initiative aims to expand financial inclusion by providing small business owners with easier access to credit, enabling them to grow their businesses and manage working capital more efficiently.

The partnership leverages PhonePe’s extensive merchant network, allowing eligible micro-merchants to apply for loans seamlessly through the platform. By integrating digital credit solutions with everyday business transactions, the initiative simplifies borrowing processes and reduces barriers for underserved entrepreneurs.

Officials highlighted that the program targets merchants who may not have access to traditional banking channels or formal credit histories. Through data-driven underwriting and technology-enabled evaluation, SMFG India Credit can extend timely financial support while mitigating risks.

The loans are designed to help micro-merchants invest in inventory, expand operations, and adopt digital tools for business management. The collaboration also aligns with broader efforts to strengthen India’s MSME sector, which plays a crucial role in employment generation and economic growth.

Analysts note that partnerships between fintech companies and financial institutions are increasingly shaping credit accessibility in India. By combining PhonePe’s reach with SMFG India Credit’s lending expertise, this initiative exemplifies how digital solutions can democratize financial services and empower small businesses.

The program is expected to impact thousands of micro-merchants across smaller towns and cities, promoting entrepreneurship and boosting economic activity at the grassroots level. By facilitating easy, collateral-free loans, SMFG India Credit and PhonePe aim to drive inclusive growth and reinforce the digital financial ecosystem in India.

Tags: PhonePeSMFG India Credit

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BFSI

Court Denies Discharge to Satyan Tandon in Yes Bank-DHFL Loan Fraud Case

Observenow Desk

A special court has refused to grant discharge to businessman Satyan Tandon in the high-profile Yes Bank-DHFL loan fraud case, allowing the trial to proceed. Tandon faces serious allegations of conspiring in a ₹3,700 crore loan fraud, which has drawn significant attention from regulators and the banking sector.

The court’s decision means that the prosecution will now formally present its case against Tandon, detailing the charges of financial irregularities and fraudulent practices. Authorities allege that the accused, along with other individuals, manipulated lending processes to siphon funds from the Housing Development Finance Corporation Ltd (DHFL) and Yes Bank.

Legal experts note that denying discharge at this stage indicates the court’s assessment that the charges have sufficient prima facie merit. The trial will examine the extent of involvement, complicity, and potential violations of banking and financial regulations, setting a precedent for accountability in large-scale corporate fraud cases.

Yes Bank and DHFL, both affected by the fraudulent loans, are closely monitoring the proceedings, which could influence recovery efforts and regulatory responses. The case highlights ongoing challenges in ensuring transparency and risk management within India’s banking sector, particularly regarding large corporate exposures.

Investigators have emphasized that holding individuals accountable for orchestrating complex financial schemes is critical to maintaining investor confidence and deterring similar fraudulent activities. The court’s ruling ensures that due process will continue, with both sides presenting evidence and arguments.

The denial of discharge to Tandon underscores the judiciary’s commitment to thoroughly investigating allegations of high-value financial fraud. As the trial progresses, stakeholders across the BFSI sector are watching closely, given the implications for corporate governance, regulatory oversight, and the enforcement of banking laws in India.

Tags: Satyan TandonYes Bank

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Digital Native

Dream11, Games24x7, Gameskraft, and MPL Lose Unicorn Status Amid Gaming Ban

Observenow Desk

Dream11, Games24x7, Gameskraft, and Mobile Premier League (MPL) have lost their unicorn status following India’s implementation of a new law banning real-money online gaming. The legislation prohibits games that involve monetary stakes and places restrictions on related promotions, directly affecting the business models of these gaming platforms and investor sentiment.

The law has disrupted the online gaming ecosystem, as platforms that relied on real-money transactions for user engagement and revenue generation face regulatory hurdles. While these companies had previously achieved valuations exceeding $1 billion, the legal changes have reduced investor confidence, leading to a reassessment of their market worth.

Despite the setback for these major players, India’s startup ecosystem continues to grow. The country’s unicorn count reached 73 this year, with 11 new companies joining the billion-dollar club. This demonstrates resilience and continued investor interest in sectors such as fintech, health tech, and AI-driven platforms, even as online gaming faces regulatory constraints.

Industry experts note that the gaming ban may prompt companies to pivot toward skill-based or free-to-play models, digital content, and gamification services that comply with the new law. The focus will likely shift to expanding user engagement through non-monetary rewards and innovative entertainment offerings.

While the removal of unicorn status is a notable impact, it underscores the broader challenge of navigating regulatory shifts in rapidly evolving sectors. Investors and entrepreneurs are now re-evaluating strategies to align with compliance requirements while sustaining growth and market presence.

The development highlights the dynamic nature of India’s digital-native startup landscape, where rapid innovation often intersects with evolving regulatory frameworks. Companies are expected to adapt quickly, leveraging alternative revenue models and technology-driven solutions to maintain competitiveness in a changing legal environment.

Tags: Dream11Games24x7Gameskraft

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Digital Native

Zepto Collaborates with ClearTax to Simplify ITR Filing for Delivery Partners

Observenow Desk

Zepto has partnered with ClearTax to provide income tax return (ITR) filing services for its delivery executives, aiming to streamline tax compliance and enable refunds exceeding ₹1.5 crore. The initiative targets Zepto’s delivery workforce, many of whom are filing taxes for the first time.

The service leverages a WhatsApp-based, multilingual interface, making the process simple and accessible for delivery partners across different regions. Approximately half of Zepto’s delivery executives utilized the platform to file their taxes for the first time, highlighting the impact of digital solutions in promoting financial literacy and compliance.

Through this collaboration, Zepto seeks to empower its workforce with easy access to government services while ensuring timely tax filing. The initiative is part of a broader effort to enhance employee welfare and provide financial support, as refunds from ITR filings can directly benefit delivery partners.

ClearTax brings its expertise in digital tax filing and regulatory compliance to simplify the process, offering guidance and automated support to users. The platform is designed to be intuitive, reducing errors and ensuring adherence to tax regulations without requiring extensive prior knowledge of the filing process.

Industry observers note that such partnerships represent a growing trend among digital-native companies to provide value-added services for gig and delivery workers. By integrating tax filing assistance into everyday communication channels like WhatsApp, companies can enhance engagement, compliance, and trust among their workforce.

Zepto’s initiative reflects an effort to combine technology, convenience, and employee welfare, making essential financial services more inclusive and user-friendly. As digital platforms continue to support the gig economy, such collaborations could serve as a model for other companies aiming to improve the financial well-being and regulatory compliance of their workforce.

Tags: ClearTaxZepto

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Governance

PM Modi, Danish PM Discuss Green Partnership and India-EU Trade

Observenow Desk

Prime Minister Narendra Modi and Danish Prime Minister Mette Frederiksen held discussions focusing on their Green Strategic Partnership, emphasizing collaboration on sustainability, clean energy, and climate action. The talks highlighted both countries’ commitment to accelerating the transition toward low-carbon economies and fostering innovation in renewable technologies.

During the meeting, PM Frederiksen also urged for the early conclusion of the India-European Union Free Trade Agreement (FTA), emphasizing the potential benefits of enhanced trade, investment, and economic cooperation. Both leaders underscored the importance of strengthening bilateral and multilateral trade relations to support sustainable growth and global economic stability.

The Green Strategic Partnership between India and Denmark includes joint initiatives in renewable energy, sustainable urban development, and circular economy practices. Officials highlighted ongoing collaboration on wind energy, solar power projects, and energy efficiency programs, which aim to reduce emissions while supporting economic growth.

In addition to environmental cooperation, the discussions touched upon trade, investment, and technological exchange. Both leaders agreed that a robust India-EU FTA would facilitate greater market access, promote innovation, and enhance competitiveness for industries in both regions. Frederiksen emphasized that a swift agreement would strengthen ties between India and the EU, enabling faster implementation of sustainable and trade-friendly policies.

Analysts note that the meeting reflects India’s growing role in global sustainability efforts and its increasing engagement with European partners on trade and climate action. The discussions also reinforce Denmark’s position as a strategic partner in advancing green technologies and fostering sustainable development initiatives in India.

The leaders concluded the dialogue reaffirming their commitment to climate goals, economic cooperation, and multilateral engagement. By combining efforts on green technologies with strategic trade initiatives, India and Denmark aim to contribute to a more sustainable and prosperous global economy.

Tags: Danish Prime Minister Mette FrederiksenPM ModiPrime Minister Narendra Modi

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Exclusive

Elon Musk Claims Former OpenAI Employee Suchir Balaji Was Murdered

Observenow Desk

Elon Musk has alleged that former OpenAI employee Suchir Balaji was murdered, disputing the official ruling of suicide. Balaji had previously raised concerns about OpenAI’s use of copyrighted material in AI training, prompting scrutiny of the company’s practices.

Musk’s claims came after an interview in which he questioned OpenAI CEO Sam Altman regarding Balaji’s death and the company’s approach to data usage. The allegations have sparked debate over AI ethics, transparency, and accountability in tech companies.

Balaji, who had worked on AI projects at OpenAI, reportedly voiced concerns about the legality and ethical implications of using copyrighted content for training AI models. His untimely death has reignited discussions on the responsibilities of tech firms in handling sensitive employee feedback and ensuring safe work environments.

Industry observers note that Musk’s statements, while unverified, have intensified public and media attention on OpenAI and the broader AI research community. The controversy underscores the need for greater oversight and ethical standards in AI development and corporate governance.

The case has also raised questions about whistleblower protections, employee safety, and the potential risks faced by individuals challenging powerful tech entities. While official investigations maintain the suicide ruling, Musk’s allegations continue to fuel discussions on transparency and accountability within the AI sector.

As the debate unfolds, stakeholders in technology, law, and ethics are closely watching the developments, emphasizing the importance of safeguarding employees while advancing AI innovation responsibly.

Tags: Elon MuskOpenAISuchir Balaji

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BFSI

Antitrust Raids Conducted at Jindal SAW and Maharashtra Seamless

Observenow Desk September 17, 2025

India’s antitrust regulator carried out surprise raids at the offices of Jindal SAW and Maharashtra Seamless over allegations of bid-rigging in tenders floated by the Oil and Natural Gas Corporation (ONGC). The investigations follow a complaint filed by ONGC in 2023 and aim to examine possible violations of competition laws in the procurement process.

Officials from the Competition Commission of India (CCI) conducted searches to gather evidence related to alleged collusive practices and market manipulation in the steel pipe and seamless pipe segments. The regulator is assessing whether the companies conspired to influence tender outcomes, potentially limiting fair competition and impacting pricing in public sector projects.

Industry experts note that such raids are part of a broader effort by the CCI to ensure transparency and integrity in public procurement. Bid-rigging allegations typically involve collusion among suppliers to manipulate bidding processes, often resulting in inflated contract values and reduced efficiency in government spending.

Both Jindal SAW and Maharashtra Seamless are prominent players in the steel pipe manufacturing sector, supplying critical materials to oil, gas, and infrastructure projects. Any findings of anti-competitive conduct could carry significant legal and financial consequences, including penalties and restrictions on future participation in government tenders.

The regulator has maintained that the probes are at an early stage, and no conclusions have yet been drawn. The companies involved are expected to cooperate fully with the ongoing investigations, providing documents and information requested by the authorities.

This development underscores India’s commitment to enforcing competition laws and deterring anti-competitive practices in key industrial sectors. As the investigation progresses, stakeholders across the BFSI and industrial supply sectors are closely monitoring the outcomes, which could have implications for compliance standards and tender processes in the country.

Tags: Jindal SAWMaharashtra SeamlessOil and Natural Gas Corporation

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