Category Archives: Business

Deccan Gold Reports Encouraging High-Grade Tungsten-Tin Results from Spain, Strengthening European Critical Minerals Portfolio

How FedEx and UPS Are Using AI as the Third-Party Logistics Market Enters a New Growth Phase

Olive Hospitality Opens Four New Hotels, Enters North India with Gurugram Launch

Aug 03: Olive Hospitality, the hospitality platform of Embassy Group, today announced the opening of four new hotels across Hyderabad, Gurugram, Visakhapatnam and Bengaluru. The launches add 165 operational keys to the portfolio, taking the company’s operating footprint to 67 hotels while marking Olive’s entry into North India through its first property in Gurugram.

With these openings, Olive now operates 67 hotels comprising 2,599 keys, while its signed portfolio has grown to 142 properties representing 5,641 keys across 24 cities. The latest additions reflect Olive’s continued focus on building density within India’s strongest commercial corridors while selectively expanding into new markets with long-term demand fundamentals.

The Gurugram opening represents an important milestone for the company as Olive enters North India for the first time. Located close to Golf Course Extension Road and Cyber City, the property establishes a strategic foothold in one of India’s largest corporate markets and provides a platform for future expansion across the NCR region.

The newly launched hotels are strategically located within some of India’s fastest-growing commercial ecosystems:

·         Olive Hi-Tech City strengthens the company’s presence in Hyderabad’s technology corridor, with convenient access to HITEC City, Madhapur, Gachibowli and the Financial District.

·         Olive Gurugram establishes Olive’s first presence in North India, serving one of the country’s largest business and corporate travel markets.

·         Olive JP Nagar further consolidates Olive’s footprint in Bengaluru, with excellent metro connectivity and proximity to the Bannerghatta Road business corridor.

·         Olive Visakhapatnam expands the brand into one of Andhra Pradesh’s thriving business, healthcare and tourism destinations.

Commenting on the expansion, Kahraman Yigit, Co-founder and CEO, Olive Hospitality, said: “These openings represent another important milestone in our journey and reflect the commitment of our team, our owners and our partners. Following the successful launch of India’s first Spark by Hilton hotels earlier this year, it’s encouraging to see our multi-brand platform continue to execute across different markets and customer segments.”

He added, “While our first opening in Gurugram marks an exciting step into North India, our broader strategy remains consistent. We will continue to grow thoughtfully in India’s strongest business corridors, focusing on markets where we believe we can create long-term value for both our hotel owners and our guests. As we scale, our priority remains building a technology-enabled operating platform that combines operational excellence with a consistently high-quality guest experience.”

These openings build on Olive Hospitality’s momentum during the first half of the year, including the successful launch of India’s first Spark by Hilton hotels in Bengaluru and Goa. Together, they continue Olive’s evolution into a multi-brand hospitality platform spanning Olive Hotels, Spark by Hilton and Open Hotels. As the portfolio grows, the company remains focused on disciplined execution, operational excellence and creating long-term value for its owners, partners and guests.

Sundaram Finance disbursements grew by 22% to Rs. 8,947 crores in Q1FY27

Aug 03: The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting held on August 3, 2026, in Chennai. 

“Q1FY27 opened with stronger demand than Q1FY26, despite a more complex macro backdrop marked by West Asia tensions, higher energy and commodity prices, supply-chain disruption and monsoon uncertainty. In this environment, Team Sundaram delivered 17% AUM growth to Rs. 62,275 crores, improved asset quality with net stage 3 assets at 0.88% against 1.08% last year, and 22% year-on-year growth in profit after tax. Our Group companies in asset management, general insurance and home finance continued to report strong results. We remain committed to our time-tested approach of steady, sustainable growth, best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman.

AUM for Q1FY27 grew 17% to Rs. 62,275 crores. Disbursements for Q1FY27 recorded a growth of 22% over Q1FY26. Gross stage 3 assets as on June 30, 2026, stood at 1.71% with provision cover of 49% as against 1.91% as on June 30, 2025, with provision cover of 44%. Profits from operations performed strongly, growing by 37% in Q1FY27. Profit after tax registered a 22% rise in Q1FY27, with net profit at Rs. 522 crores. Return on assets closed at 3.06% in Q1FY27 as against 2.91% for Q1FY26, and capital adequacy at 18.5% remained quite comfortable.

 Rajiv Lochan, Managing Director, stated, “Q1FY27 has been an encouraging quarter, with Sundaram Financedelivering stronger growth, improved asset quality and resilient profitability. The operating environment is turning more supportive for growth, even as key external monitorables such as geopolitical uncertainty and monsoon shortfalls remain. With our strong franchise, disciplined execution and customer-focused approach, Team Sundaram is well-positioned to deepen its presence and gain market share across the businesses in which we operate.”

 STANDALONE PERFORMANCE HIGHLIGHTS FOR Q1FY27 

·       Disbursements for Q1FY27 grew by 22% to Rs. 8,947 crores as compared to Rs. 7,310 crores registered in Q1FY26.

·       The assets under management grew by 17% to Rs. 62,275 crores as on 30^th June 2026 as against Rs. 53,278 crores as on 30^th June 2025.

·       Net interest income (NII) grew by 19% to Rs. 925 crores in Q1FY27 from Rs. 781 crores in Q1FY26.

·       Gross stage 3 assets as on 30^th June 2026 stood at 1.71% with 49% provision cover as against 1.91% with provision cover of 44% as on 30^th June 2025. Net stage 3 assets as on 30^th June 2026 closed at 0.88% as against 1.08% as on 30^th June 2025.

·       The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.28% and 1.35% respectively as against 2.66% and 1.71% as of 30^th June 2025.

·       Cost to income ratio was at 30.70% in Q1FY27 as against 29.84% in Q1FY26.

·       Profits from operations grew 37% to Rs. 598 crores in Q1FY27 as against Rs. 436 crores in Q1FY26.

·       Profit after tax registered a growth of 22% rise in Q1FY27, with net profit at Rs. 522 crores as against Rs. 429 crores in Q1FY26.

·       Return on assets (ROA) for Q1FY27 closed at 3.06% as against 2.91% for Q1FY26. Return on equity (ROE) was at 17.69% for Q1FY27 as against 16.70% for Q1FY26.

·       Capital Adequacy Ratio stood at 18.5% (Tier I –16.9%) as of 30th June 2026 compared to 20.0% (Tier I – 17.3%) as of 30th Jun 2025. 

 CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR Q1FY27 

The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.

·       The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 92,887 crores as on 30^th June 2026 as against Rs. 80,939 crores as on 30^th June 2025, a growth of 15%. The assets under management of our asset management business stood at Rs. 90,089 crores as on 30^th June 2026 as against Rs. 80,501 crores as on 30^th June 2025.

·       Profit after tax for Q1FY27 grew by 34% to Rs. 636 crores as compared to Rs. 475 crores in Q1FY26.

GROUP COMPANY PERFORMANCE HIGHLIGHTS

Our group companies continued to perform well.

The asset management business closed the quarter ended 30^th June 2026 with assets under management of Rs. 90,089 crores (around 80% in equity) and consolidated profits from the asset management businesses were at Rs. 51 crores as against Rs. 45 crores in Q1FY26.

Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 1,380 crores as compared to Rs. 1,289 crores in the previous year, representing a growth of 7%. The company reported a profit after tax of Rs. 135 crores for Q1FY27 as against a profit of Rs. 127 crores in Q1FY26. 

Sundaram Home Finance disbursements grew by 10% to Rs. 1,643 crores in Q1FY27. The profit for Q1FY27 was Rs. 85 crores, as against Rs. 62 crores in Q1FY26. Gross stage 3 assets as on 30^th June 2026 stood at 1.42% as against 1.63% as on 30^th June 2025. Net stage 3 assets as on 30^th June 2026 closed at 0.69% as against 0.96% as on 30^th June 2025. The Gross and Net NPA, as per RBI’s asset classification norms, are 1.50% and 0.75% respectively as against 1.94% and 1.20% as of 30^th June 2025.

Yatra Marks 20 Years of Transforming Travel in India with Milestone Anniversary Film

Aug 03: Yatra Online Limited (“Yatra“), India‘s largest corporate travel services provider and one of the country’s leading online travel companies, today unveiled a milestone film celebrating 20 years of innovation, growth and transformation. The film traces Yatra‘s journey alongside the evolution of India‘s travel landscape, from the early days of online booking to the AI-led travel experiences of today.

Since its founding in 2006, Yatra has introduced a series of technology-led innovations for Indian travellers, including SMS-based bookings in 2007, cash-on-delivery payments in 2010, and the low-bandwidth “Yatra Mini” application in 2016. In 2024, Yatra built India‘s largest corporate travel platform and introduced voice search, culminating in the launch of its Gen-AI assistant, RECAP.

As per Yatra‘s Annual Report for FY 2024-25, Yatra recorded 106 million visits, a 97.3% booking success rate, and a network of approximately 80,000 hotels and homestays across approximately 1,497 Indian cities. 59% of Yatra‘s business in FY 2024-25 was derived from repeat customers, and 81% of Yatra‘s traffic was direct or organic. These metrics reflect the brand equity Yatra has built over the last two decades.

The anniversary film brings these milestones together through a visual narrative reflecting the people, partnerships and purpose behind Yatra‘s journey.

Commenting on the milestone, Dhruv Shringi, Co-founder & Chairman, Yatra Online Limited, said: “Twenty years ago, we set out with a simple belief that technology could transform the way India travels. Since then, Yatra has grown alongside a new generation of Indian travellers, adapting, innovating, and earning their trust every step of the way. This film celebrates not just our past, but the people who made it possible and the foundation they have helped us build for the future.” 

Siddhartha Gupta, Chief Executive Officer, Yatra Online Limited, said, “This milestone is an opportunity to celebrate the remarkable journey of Yatra and the people who have built it over the years. While this film looks back on our story so far, it also marks the beginning of an exciting new chapter – one that we believe will create even greater opportunities for our customers, employees and partners.” 

As Yatra enters its third decade, Yatra remains focused on technology-led innovation and on strengthening its position in both consumer and corporate travel in India and globally.

Apparel Manufacturers of India to host ADVAIT 8.0 in Chennai

Chennai, Aug 3: Apparel Manufacturers of India, one of India’s prominent and renowned apparel groups of manufacturers and traders, is back with the next edition of ADVAIT. ADVAIT 8.0 will be held in Chennai at RK Convention Centre, from 5th – 7th August, 2026.

The 3-day fair will see participation from more than 220 brands from across India, from key cities like Mumbai, Indore and Surat. ADVAIT continues to act as a confluence where brands across India gain access to the right market opportunities to showcase their collections, and buyers get filtered and verified manufacturers to buy from.

ADVAIT, which in Sanskrit means “one of a kind” or “unique”, was started by Apparel Manufacturers of India  in 2018, with the idea to strengthen the apparel community for better market and business opportunities. Today, AMI continues to growand expand this property by bridging the gap among manufacturers, retailers, and MBOs.

The Indian apparel market is projected to reach USD 117.05 billion by 2034, and South India is a key market within it for value fashion retailers, as they target the untapped market. With an increase in favorable store economics and consumption patterns of consumers in this region, South India complements the value fashion chain and presents significant growth opportunities. 

As the festive season sets in India, consumer sentiments change and demand for affordable clothing increases. ADVAIT 8.0 will showcase the upcoming festive collection from across brands. The trade fair continues to see high participation from retailers and MBO’s from South India as well as key international markets.

Speaking on the upcoming ADVAIT 8.0, Dharmesh Nandu, Founder of Apparel Manufacturers of India, said

“We are delighted to announce the next edition of ADVAIT and are extremely excited. As the festive season approaches, this time we will be showcasing a lot of festive collections and latest trends to the buyers. South India’s evolving retail footprint, catalyzed by the rapid opening of major large format stores, presents exceptional growth opportunities This region holds great potential we look forward to catering this in the right manner.”

The event will be spread across the entire center of 1 lac sq. ft, providing brands ample stall space for display. Till date, AMI has held more than 50+ zonal and regional fairs across Southern India.

IMC Ladies’ Wing Women Entrepreneurs’ Exhibition – 60 Years of Empowering Women and 39 Years of Building an Ecosystem Where Entrepreneurs Thrive

Aug 3: For six decades, the IMC Ladies’ Wing has been at the forefront of empowering women, nurturing entrepreneurship, and creating platforms that enable women to transform their aspirations into successful enterprises. 

As the IMC Ladies’ Wing celebrates its Diamond Jubilee year, it proudly presents the 39th edition of the IMC Ladies’ Wing Women Entrepreneurs’ Exhibition 2026, to be held on 25th and 26th August 2026 at the Jio World Convention Centre, Mumbai.

Over the last 39 years, the Women Entrepreneurs’ Exhibition has grown into one of India’s most prestigious and sought-after platforms for women-led businesses. More than an exhibition, it is a vibrant ecosystem where ideas take shape, collaborations are forged, and women entrepreneurs are empowered to flourish.

This year’s theme for the exhibition, “Bees and the Hive,” beautifully captures the spirit of the IMC Ladies’ Wing’s journey.

One bee begins the journey. Together, they build a hive where extraordinary things happen.

A single bee may start the journey, but it is the collective strength of the hive that creates something remarkable. Every bee contributes its unique abilities to build a thriving and resilient community. In much the same way, every woman entrepreneur brings her own vision, creativity, and determination to a larger ecosystem of enterprise.

The hive symbolizes the very essence of the IMC Ladies’ Wing—a community where women come together to support, mentor, collaborate, and inspire one another. It is a celebration of the belief that success is never achieved alone; it is built through partnerships, shared experiences, and the extraordinary power of women uplifting women.

This philosophy resonates deeply with the Presidential theme for the year, “Multiplying Impact.” Women have always been natural multipliers of knowledge, connections, and influence. When women come together, conversations rarely remain transactional; they become meaningful exchanges of lived experiences, perspectives, challenges, and solutions. A single story shared by one woman can spark confidence, ignite new ideas, or transform the journey of another, creating a ripple effect that reaches far beyond the individual.

“Multiplying Impact” celebrates this unique ability of women to amplify value through meaningful connections. It recognizes women as catalysts for transformation—within families, businesses, communities, and society. It reframes women’s influence as exponential rather than incremental, acknowledging that every empowered woman has the potential to empower many others and create lasting change across generations.

“Together, ‘Bees and the Hive’ and ‘Multiplying Impact’ represent the spirit of the IMC Ladies’ Wing. Just as every bee strengthens the hive, every woman entrepreneur strengthens our ecosystem through collaboration, mentorship, innovation, and shared success. When women come together, they do not merely build businesses—they multiply opportunities, knowledge, confidence, and ultimately, multiply impact.”

This year’s Exhibition promises to be our most vibrant edition yet, bringing together over 300 women entrepreneurs from across India, showcasing a carefully curated blend of fashion, lifestyle, artisanal crafts, home décor, gourmet delights, wellness products, and innovative brands that celebrate both heritage and contemporary design.”– Ms. Anita Chouhan, President, IMC Ladies’ Wing

“Further strengthening our commitment to nurturing talent and innovation, the IMC Ladies’ Wing is proud to collaborate with the Fashion Design Council of India to facilitate participation from eligible women members and students, creating opportunities for emerging entrepreneurs and designers to showcase their creativity while connecting with the industry.

The Exhibition has always been about creating impact beyond business. In keeping with this philosophy, the IMC Ladies’ Wing continues to support NGOs and social enterprises by providing complimentary stalls, giving them a valuable platform to showcase their products, initiatives, and causes. This initiative reflects our belief that entrepreneurship must be inclusive and that empowering communities goes hand in hand with building successful enterprises.” – Ms. Pallavi Sahney Sharma, Chairperson, WE Exhibition 2026 Committee

“Entrepreneurship has the power to shape not just economies, but the future we leave behind. At the heart of this year’s Exhibition is a commitment to sustainability, conscious innovation, and responsible business. From vegan and eco-conscious brands to eco-printed textiles and environmentally responsible products, we are celebrating entrepreneurs who are proving that purpose and profitability can go hand in hand. The Exhibition itself reflects these values through the use of green energy, responsible waste management, recycling initiatives, and efforts to offset our carbon footprint. We hope every visitor leaves inspired by the belief that meaningful change begins with the choices we make every day.”– Ms. Juveca Panda Chheda, Co-Chairperson, WE Exhibition 2026 Committee

As the IMC Ladies’ Wing celebrates 60 years of empowering women and 39 years of building an entrepreneurial ecosystem, the Women Entrepreneurs’ Exhibition stands as a testament to the transformative power of community. It is a tribute to every woman who dared to begin, to every entrepreneur who persevered, and to every dream that found wings through the support of the hive.

Because when women come together with purpose and passion, they do more than build businesses. They build communities, create opportunities, and shape a future where extraordinary things happen.

Second generation takes over – ‘Hidden Champion’ remains 100% in German family ownership

Igenhausen, Aug 03, the HAIMER Group will complete the generational change in its ownership structure. The company shares will be transferred to the second generation so that siblings Andreas and Kathrin Haimer now assume responsibility as Managing Directors and Shareholders. This puts the internationally active family-owned company’s long-term, owner-managed orientation on a clear path for the future.

Within the HAIMER Group – a globally leading manufacturer of shrink fit and balancing technology, tool holders and presetting machines, as well as a complete system provider for tool management solutions around the machine tool – the generational transition will be completed as of August 1, 2026. As part of a succession plan that has been prepared over many years, the shares of the HAIMER Group will be transferred to the founders’ children, Andreas and Kathrin Haimer.

Claudia and Franz Haimer, who founded the company in 1977 and built it up over the past decades to a hidden champion and global player, will remain operationally active in the management team until December 31, 2027. During this period, they will oversee the handover process to ensure a smooth and carefully prepared transition to the second generation. In addition, they will continue to support the company in the long term with their experience and network as members of a newly established Advisory Board.

“For us, this step is a very emotional moment as we place our life’s work in the hands of our children. At the same time, the handover is an important milestone in the development of our family business,” explains Claudia Haimer. “Andreas and Kathrin are closely connected to HAIMER for many years and have already successfully assumed responsibility in the management team. This ensures the continuity of our values, our technological expertise and our long-term strategy.”

By transferring the shares to Andreas and Kathrin Haimer, HAIMER strengthens its position as an independent, owner-managed family business that offers its customers the “Tool Room of the Future” as a holistic tool room concept providing greater efficiency, digitization and automation.

With this approach, HAIMER addresses the challenges faced by manufacturing companies which are increasingly under cost pressure while confronted with a shortage of skilled workers as well as the need to digitize and automate. HAIMER enables customers worldwide to machine more precisely, reliably and productively.

With HAIMER solutions, the shop floor can be digitized, and the tool assembly area can be automated. The generational change is therefore also a clear commitment to further strengthening this system expertise which is in line with the company philosophy of ‘Quality Wins’.

Despite rapidly changing and turbulent times in the metal working industry, this hidden champion remains 100% in German family ownership. This allows customers, partners and employees to continue to rely on long-term, sustainable decision-making.

Andreas and Kathrin Haimer have been working in various management positions in the company for many years and today form the management team of the HAIMER Group together with the founding couple. In their new role as Managing Partners, they will continue the established growth course while setting new innovations in the areas of digitization, automation and sustainability – for example, through the further expansion of digital products, networked tool room solutions and automated cells for shrinking, presetting and balancing.

In view of the many challenges in global markets, Kathrin Haimer particularly emphasizes the company’s responsibility towards people and employees:
“As a family-owned company, we bear responsibility – for the future of our business, for our employees, for the education of young people as apprentices, and for our local communities. Our task is to combine the values that HAIMER has stood for over decades with innovative strength and cutting-edge technology. In this way, we aim to actively shape the future of our company – as a reliable partner for our customers and an attractive employer.”

Andreas Haimer adds that from a technological and strategic perspective: “We are a manufacturing company ourselves, with more than 200 machine tools and an annual metal-cutting volume of around 5,000 tons – so we know from our own experience just how crucial stable, productive processes and well-thought-out tool management are. That is precisely why we are consistently investing in digitization and automation: from AI-capable shrink fit, balancing and presetting machines through our ‘Tool Room of the Future’ concept to global cooperation with machine tool builders where our networked solutions are deployed in their plants worldwide. The generational change gives us the entrepreneurial freedom to further expand this long-term strategy and to strengthen our role as a technology leader in the periphery around the machine tool and in the networking of the shop floor.”

Looking back on the joint achievements of the past decades, Franz Haimer states: “The success of HAIMER is inseparably linked to the commitment of our team around the world. The fact that we can now place our Group in the hands of our children and at the same time see a strong team carrying the company is, for us, the best foundation for a successful future for HAIMER. As a family-owned company that can act independently of corporate groups and in a sustainable manner for the benefit of our customers, we are currently seeing very strong demand from the semi-conductor, aerospace, space, defense and energy industries for our integrated tool room solutions. With these solutions, companies that want – and need – to prepare for the future can turn a previously unorganized tool assembly as a black box into a transparent, data-driven tool setup and presetting process, enabling production to run 24/7 at the highest levels of automation.”

India Records Its Highest Average Cost of a Data Breach at INR 255 Million (INR 25.5 Crore) in 2026: IBM Report

Bengaluru, August 03: IBM today released its 2026 Cost of a Data Breach Report, which found that the average total organizational cost of a data breach in India reached an all-time high of INR 255 million (INR 25.5 crore) in 2026, a 15.9% increase over last year’s INR 220 million (INR 22 crore). The average breach in India also grew in scale, with 39,500 records compromised on average, up from 38,200 in 2025.

The report found that 26% of malicious breaches in India were AI-generated, highlighting how artificial intelligence is reshaping the cyber threat landscape by enabling attacks to become faster, more sophisticated and increasingly scalable. The findings show that while AI is transforming the nature of cyberattacks, it is also helping organizations strengthen cyber resilience. Organizations that extensively deployed AI and security automation experienced significantly lower breach costs and faster breach response, while nearly 73% of organizations also indicated plans to further strengthen investments in security tools and governance following a breach.

“India‘s accelerating AI adoption is creating immense opportunities for innovation, but it is also enabling cyber threats to evolve rapidly. The findings underscore that organizations using AI and strong governance, were significantly better positioned to fend off cyberattacks,” said Gaurav Agarwal, Vice President, Technology, IBM India & South Asia. “Today, most organizations apply AI in limited ways, often focused on detection. To keep pace, AI with agentic capabilities must be embedded across the full security lifecycle—from detection and analysis to prioritization and remediation. That should be the strategic imperative for businesses to build resilience and a competitive advantage,” he added.

Other key findings from the report for India are as follows:

The AI Gap: Adoption Lags, Costs and Delays Rise

• Automation Adoption Stalls: Only 32% of organizations reported extensive use of AI and security automation, while 36% reported limited and 32% reported no use at all.

• The Cost of Standing Still: Organizations with no AI and automation in security operations paid an average of INR 316 million (INR 31.6 crore) per breach, compared to INR 213 million (INR 21.3 crore) for organizations with extensive use, and INR 231 million (INR 23.1 crore) for those with limited deployment.

• Slower Response Without Automation: Breaches at organizations with no AI and security automation took an average of 236 days to identify and 75 days to contain, longer than those with extensive automation (175 days to identify and 81 days to contain).

• Shadow AI Remains a Significant Risk: Shadow AI added an average of INR 17.9 million (INR 1.79 crore) to the cost of a breach where present, making it one of the top three cost-increasing factors in India, alongside non-compliance with regulations and cloud migration.

The Financial Cost of a Breach

• Financial Services Face the Highest Costs: The financial services sector recorded the highest average breach cost in India at INR 409 million (INR 40.9 crore), followed by technology at INR 357 million (INR 35.7 crore) and communications at INR 345 million (INR 34.5 crore).

• Phishing Remains the Top Attack Vector: Phishing, including voice and SMS phishing, was the most common initial attack vector in India (19%), followed by drive-by compromise (16%) and supply chain compromise (15%).

• Offensive Security Pays Off: Offensive security testing, such as red teaming and penetration testing, was the largest cost-reducing factor in India, saving organizations an average of INR 24.7 million (INR 2.47 crore), followed by proactive threat hunting and AI governance technology.

Organizations Strengthen Cyber Resilience

• Investment Priorities: The top five areas where organizations are planning additional security investments are – incident response plans and testing (67%), threat detection and response technologies such as SIEM, SOAR and EDR (51%), identity and access management (49%), AI security and governance tools (39%), and employee awareness and training (36%).

Download the Cost of a Data Breach 2026 Global Report to learn more.

GlobalPay Broadens Its Position as a Cross-Border Payments Fintech with Expanded RBI AD Category II Authorisation

Mumbai, Aug 3: WSFx Global Pay Ltd., trusted standard in global payments and India’s fintech in foreign exchange and cross-border payments, announced that it has received an expanded Authorised Dealer Category II  licence from the Reserve Bank of India under FEMA 2026, significantly broadening the scope of foreign exchange and cross-border payment services it is authorised to offer. The enhanced authorisation marks a significant milestone in GlobalPay’s journey as one of India’s fintech companies in the foreign exchange and cross-border payments space.

With the Reserve Bank of India issuing a perpetual Authorised Dealer Category II licence with an enhanced scope of transactions under FEMA 2026 , GlobalPay is now authorised to offer a broader suite of regulated foreign exchange and cross-border payment services. The approval enables the company to support a wider range of customer requirements across international trade, remittances and foreign exchange, while further strengthening its commitment to delivering secure, compliant and seamless global payment solutions. Under the expanded licence, GlobalPay is now authorised to:

• Undertake all eligible non-trade current account transactions
• Facilitate inward and outward trade remittances up to INR 25 lakh
• Appoint Forex Correspondent Agencies to expand the reach of regulated foreign exchange services across the country

The approval significantly enhances GlobalPay’s ability to cater to individuals, students, travellers, corporates, exporters, importers and financial institutions through a comprehensive suite of RBI-regulated foreign exchange and cross-border payment services.

  Srikrishna Narasimhan, CEO & Whole-Time Director, GlobalPay, said,

“This expanded Authorised Dealer Category II licence marks an important milestone in GlobalPay’s growth journey and reinforces our vision of building India’s most trusted cross-border payments platform. As global mobility, international education, outbound travel and cross-border trade continue to accelerate, customers increasingly expect seamless, secure and compliant forex and remittance solutions. This enhanced authorisation allows us to meet these evolving needs through a broader suite of regulated services while maintaining the highest standards of governance, transparency and customer trust. We believe this approval further strengthens our ability to support individuals, businesses and partners with innovative solutions that simplify cross-border financial transactions and contribute to India’s rapidly expanding global payments ecosystem.”

The enhanced licence comes at a time when India’s cross-border payment landscape is witnessing rapid growth, fuelled by increasing international travel, overseas education, expanding global trade and rising demand for seamless international payment solutions. With its strengthened regulatory authorisation, GlobalPay is well positioned to support these evolving needs while continuing to drive innovation and trust in the country’s foreign exchange ecosystem.