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Finance Minister Urges PSU Banks to Boost Credit Growth, Maintain Profits

  Finance Minister Nirmala Sitharaman, in a meeting with heads of Public Sector Banks (PSBs) on Friday, urged them to leverage the Reserve Bank of India’s recent  50 basis points rate cut  to accelerate lending towards the productive sectors of the economy. Sources reported that the Finance Minister asked PSBs to maintain the profitability momentum in  FY26 , building on their strong performance last year. The cumulative net profit of 12 PSBs surged to  Rs 1.78 lakh crore in FY25 , marking a 26% rise compared to the previous fiscal. In absolute terms, this meant a profit increase of about  Rs 37,100 crore . Sitharaman also emphasised the importance of financial inclusion, directing banks to onboard more customers under government schemes to ensure broader credit outreach. On  June 6 , the RBI’s monetary policy committee, led by Governor Sanjay Malhotra, cut the benchmark repo rate by  50 basis points to 5.5% . The minister highlighted that PSBs sh...
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Paytm Partners with Axis Bank to Enhance POS Solutions and Merchant Services


On Tuesday, fintech firm One 97 Communications, the parent company of Paytm, announced a strategic partnership with Axis Bank to deliver advanced point of sale (POS) solutions and card payment machines. This collaboration aims to integrate Paytm’s electronic data capture (EDC) devices into Axis Bank's extensive merchant network.

The EDC devices offered by Paytm are equipped with integrated software designed to provide a comprehensive range of store management services. These include inventory management, invoice generation, promotions and discounts, sales tracking, reporting, and customer relationship management (CRM). By incorporating these features, Paytm's devices aim to streamline transaction processes and enhance operational efficiency for merchants.

A Paytm spokesperson highlighted the benefits of this partnership, noting that the integration of Paytm's POS solutions with Axis Bank’s merchant network will boost transaction efficiency and improve overall store management. The collaboration is expected to extend Paytm’s technology to a broader merchant base through Axis Bank, thereby enhancing customer engagement and satisfaction.

The partnership is set to strengthen the capabilities of both Paytm and Axis Bank, enabling merchants to leverage advanced technology to grow their businesses more effectively.

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