Sachin Bansal’s fintech platform Navi has emerged as the fourth largest UPI app in India, overtaking Kunal Shah-led Cred. According to data from the National Payments Corporation of India (NPCI), Navi witnessed a significant 31% month-on-month growth in October, registering 158 million transactions compared to 120 million in September.

Market Dynamics

Despite Navi’s impressive growth, Cred also saw an increase in transactions, growing from 140 million in September to 152 million in October. However, Navi’s expansion came even as it scaled back its cashback and incentive programs, demonstrating its ability to attract users through its core offerings.

UPI Market Leaders

The UPI market continues to be dominated by:

• PhonePe: 48% market share
• Google Pay: 37% market share
• Paytm: 7% market share

Both Navi and Cred now account for approximately 1% of the UPI market each. Additionally, Flipkart Group’s super.money app has shown rapid growth, doubling its transaction count to 50 million in October and achieving a 0.3% market share.

Impact of Festive Sales

The festive season contributed to an overall 11% increase in UPI transaction volumes and a 14% rise in transaction value during October. This surge highlights the seasonal boost that often accompanies major shopping events in India.

Navi’s Unique Offerings

Unlike many UPI and fintech apps, Navi operates as a manufacturer of financial products. It offers a range of services including:

• Personal loans
• Home loans
• Mutual funds
• Insurance
• Digital gold

This approach distinguishes Navi from competitors who typically act as third-party distributors of financial products.

Resilience Amid Regulatory Challenges

In October, the Reserve Bank of India (RBI) directed Navi Finserv and three other non-banking financial companies (NBFCs) to halt lending practices due to concerns over high interest rates and hidden charges. Notably, this directive did not impact Navi’s UPI operations, allowing it to continue expanding its user base.

Challenges in Market Regulation

The NPCI has faced challenges in implementing a proposed 30% market share cap for UPI apps, aimed at preventing concentration risk within the ecosystem. Currently, PhonePe and Google Pay collectively account for about 85% of UPI transactions, highlighting the dominance of these two players.

NPCI’s Strategic Moves

To foster competition, NPCI has spun off its BHIM app into a separate entity and appointed veteran banker Lalitha Nataraj as its CEO. However, despite these efforts, BHIM has not seen significant growth in transaction volumes this financial year.

Future Prospects

As tier-two UPI apps like Navi and super.money gain traction, competition in India’s UPI ecosystem is intensifying. With plans to introduce innovative credit products—such as RuPay credit cards on UPI—emerging players are poised to disrupt the market further. Meanwhile, the dominance of leading apps remains a challenge for regulators aiming to promote a more balanced ecosystem.

Conclusion

Navi’s rise to become the fourth-largest UPI app marks a significant milestone in India’s digital payment landscape. By leveraging its unique business model and navigating regulatory challenges effectively, Navi is positioned for continued growth. As competition heats up among fintech players, the evolution of the UPI ecosystem will be crucial for enhancing financial inclusion across India.

Deepinder Goyal, the CEO of Zomato, has stirred a heated debate online with his unconventional job posting for the role of Chief of Staff. In a bold move, Goyal announced that the selected candidate would not receive a salary for the first year. Instead, they would need to pay ₹20 lakh for the opportunity, a sum that would be donated entirely to Zomato’s non-profit arm, Feeding India.

The Job Posting

Sharing the details on his X (formerly Twitter) account, Goyal outlined the qualities he seeks in the candidate:

• Hunger for success
• Common sense and empathy
• A lack of prior conditioning or baggage
• Groundedness and a zero-entitlement mindset
• Excellent communication skills
• A learning-oriented approach

The post emphasized that the role requires someone willing to “do the right thing, even at the cost of displeasing others.”

Compensation Structure

For the second year, the company promises a competitive salary exceeding ₹50 lakh, but this will only be offered after the completion of the unpaid first year. This structure is designed to attract candidates who are genuinely committed to personal and professional growth rather than those motivated solely by financial incentives.

Divided Reactions Online

The unconventional terms have sparked a mixed reaction online. While some have criticized the move for its apparent exclusivity, others have praised Goyal’s approach to identifying truly dedicated talent.

Criticism

Several users slammed the job posting for its apparent elitism, arguing that the ₹20 lakh fee would restrict the opportunity to wealthier candidates. Comments included:

• “As if exploiting gig workers wasn’t enough, now they target the middle class. This is ridiculous.”
• “This creates an artificial barrier, limiting the role to rich candidates with privilege.”
• “Hire me as your PR manager; I’d save you from such tweets,” joked one user.

Critics argue that such a financial requirement alienates talented individuals who may not have the means to afford this upfront cost, thereby narrowing the pool of potential applicants.

Praise

Conversely, some viewed the posting as a strategic move to find highly motivated and financially independent individuals. Supportive comments included:

• “This is a masterstroke to filter talent. It’s not just about the money but about finding someone who understands risk and has skin in the game.”
• “By linking the fee to charity, it adds a touch of purpose and filters for those who align with Zomato’s values.”

Proponents argue that this unique approach could attract candidates who are genuinely passionate about making an impact and are willing to invest in their future.

The Vision Behind the Role

Goyal defended his decision by explaining that the ₹20 lakh contribution would directly support Feeding India, aligning with Zomato’s mission to give back to society. The role is intended for someone passionate about learning and willing to invest in both their professional development and social causes.

“We believe that people who apply for this role should do it for the learning opportunity it presents, rather than for a fancy well-paying job,” Goyal stated.

A New Hiring Trend or Misstep?

The announcement has undoubtedly sparked conversation about innovative hiring practices and their potential pitfalls. Whether this approach becomes a precedent in corporate hiring or fades as a one-off remains to be seen.

Implications for Future Hiring Practices

This job offer raises important questions about accessibility in high-level positions within companies. As organizations look for unique ways to attract talent, they must balance innovative approaches with inclusivity to ensure they do not inadvertently exclude capable candidates from diverse backgrounds.

Conclusion

For now, the spotlight is firmly on Zomato—and on the candidate who accepts this bold challenge. As discussions continue around Goyal’s unconventional job offer, it remains to be seen how this will impact Zomato’s hiring practices and whether other companies will follow suit with similar approaches. The outcome may redefine how organizations perceive talent acquisition in an increasingly competitive landscape.

WhatsApp, the Meta-owned messaging platform, is enhancing group communication with a new feature that simplifies how users share updates in group chats. The app now allows users to mention entire groups in their status updates, streamlining the process of notifying multiple people simultaneously.

What’s New?

According to WABetaInfo, the group mention feature is being rolled out to beta testers on Android. This update enables users to tag an entire group in their status updates, ensuring all group members receive a notification and a direct message in their individual chats. This eliminates the hassle of manually notifying each member, making it easier to share critical updates or announcements across large groups.

Previous Limitations

Previously, WhatsApp restricted mentions to a maximum of five contacts per status, which posed challenges for users managing large groups. With this update, that restriction is lifted, allowing mentions of entire groups and enhancing communication efficiency.

How It Works

Group Mentions in Status

• Tagging Groups: Users can now tag a group in their status update, ensuring everyone in the group is notified. This feature is particularly useful for sharing important events, updates, or news without the risk of missing out on anyone.
• Universal Notifications: Once a group is mentioned, all participants—including those who have muted the group—will receive a notification and can access the status. This guarantees that critical updates reach every member.

Privacy Simplification

The feature simplifies privacy settings by eliminating the need to adjust them for specific contacts. When a group is mentioned, all members automatically gain access to the status update, making communication more seamless and inclusive.

Custom Lists for Direct Messages

In addition to group mentions, WhatsApp is introducing custom lists for organizing direct messages (DMs). This feature allows users to create personalized categories for their contacts, helping declutter their inbox and focus on important conversations.

Benefits of Custom Lists

• Organized Chats: Users can group contacts into specific categories such as work, family, or friends, ensuring they can quickly locate and prioritize messages without getting overwhelmed by less relevant chats.
• Enhanced Focus: By categorizing conversations, users can streamline their communication and improve productivity.

Why This Matters

The introduction of group mention and custom list features is designed to improve user experience, making WhatsApp an even more effective tool for both personal and professional communication.

Time-Saving Benefits

• Efficient Communication: Group mentions save time by allowing users to notify all members about key events or announcements with a single action.
• Improved Coordination: These features facilitate better coordination within large groups by ensuring that everyone stays informed simultaneously.

Global Rollout on the Horizon

Currently available for beta testers on Android, WhatsApp plans to roll out these features globally soon. This commitment reflects WhatsApp’s ongoing effort to adapt its platform to meet the evolving needs of its users.

Anticipated Impact

As these features become widely available, they are expected to enhance user engagement and satisfaction by providing more efficient ways to communicate within groups. The ability to mention entire groups directly aligns with current trends in digital communication where quick and effective information sharing is paramount.

Conclusion

With the introduction of group mentions and custom lists, WhatsApp continues to innovate and enhance its platform. These updates not only streamline communication but also reflect WhatsApp’s commitment to adapting its features based on user feedback. As beta testers explore these functionalities now, broader accessibility will soon follow, making it easier than ever for users to stay connected and organized within their communities. Keep an eye out for these exciting enhancements as they roll out globally!