Category: Finance

Finance

Tirunelveli Family Shocked by ₹1.61 Crore Electricity Bill, Revised to ₹494 After Error

Tanisha Cardozo

Tirunelveli Family Shocked by ₹1.61 Crore Electricity Bill, Revised to ₹494 After Error
Maruthakulam in Tirunelveli witnessed a bizarre case of billing error when house owner Mariyappan received an electricity bill of ₹1.61 crore.

The inflated bill left the family shocked and confused as they had never consumed power even remotely close to the quoted amount. Officials from TANGEDCO later clarified that the error was the result of a “technical glitch and human error” during the billing process. After recalculating, the revised bill came to ₹494, which reflected the family’s actual consumption.

The incident has sparked discussions on the reliability of electricity billing systems in Tamil Nadu, with many raising concerns about the psychological and financial stress such errors can cause to ordinary households.

While the issue was quickly rectified, it highlights the importance of transparency, efficiency, and regular system audits to avoid shocking situations like this in the future.

Finance

Axis Bank Launches Sparsh Week 2025: ‘Raising the Bar’ Nationwide

allycaralgoa

National, Sept 1, 2025: Axis Bank, one of India’s largest private sector banks, has announced the launch of Sparsh Week 2025 (Sept 1–5), a landmark initiative uniting more than 1 lakh employees across 5,868 branches nationwide.

With the theme “Raise the Bar,” this year’s edition emphasizes customer obsession, leadership visibility, and employee engagement at an unprecedented scale. Senior leaders including Amitabh Chaudhry (MD & CEO), Munish Sharda (ED), Subrat Mohanty (ED), and Neeraj Gambhir (ED) will personally visit 40 cities to interact with customers and mentor teams.

“Sparsh is not just a celebration but a reminder of the culture we are shaping – where empathy, innovation, and service excellence define every interaction,” said Amitabh Chaudhry.

Customer Engagement Highlights

  • 🎯 Exclusive Home Loan offers from 7.6%*
  • 💼 Special benefits across Gold Loans, MSME loans, Current Accounts & Health Insurance
  • 🎙️ Let’s Listen Sessions across 5,800+ branches for direct feedback
  • 🚗 Auto test drives & loan offers in select cities
  • 🤝 Felicitation of wholesale clients & corporate partners
  • 🌍 Outreach through Samaroh to foster new relationships

Thematic Customer Days

  • Students: Piggy to Prodigy Day with learning sessions & Bank tours
  • Women: Nari Shakti Diwas with panel discussions & ARISE awareness programs
  • Seniors: Silver Lining – digital banking & fraud prevention workshops
  • Startups & MSMEs: Startup Sangam & networking events
  • Farmers: Krishi Diwas with agri-advisory, soil-testing & Apna Gaon Melas
  • NRIs: Homecoming meets in UAE, Singapore & US
  • LGBTQ+: Pink Economy events celebrating inclusivity

Impact & Scale

From 55,000 customers in 2024, Axis Bank now targets 1.5 lakh+ customers for Sparsh Week 2025 – nearly triple last year’s outreach.

With its four core mantras — Own the Brand, Own the Customer, Act with Speed, Zero Pendency — Sparsh Week continues to strengthen Axis Bank’s position as a customer-first institution in India’s financial ecosystem.

📖 For more details and updates, visit allycaral.com

Finance

UPI Market Share in July 2025: PhonePe Leads the Digital Payments Race

Tanisha Cardozo

India’s UPI (Unified Payments Interface) ecosystem continues to grow rapidly, and July 2025 data shows a clear winner emerging in the digital payments race.

According to the latest numbers, PhonePe has secured a commanding 46.7% share of the UPI transaction volume, reaffirming its position as India’s leading payments app. Google Pay remains a strong contender at 36.2%, while Paytm trails at 7.1%. The remaining 10% is split among smaller players in the ecosystem, including banks’ own UPI apps and emerging fintech platforms.

📌 Key Highlights:

  • PhonePe leads the market with seamless integration and broad merchant support.
  • Google Pay remains a preferred choice for many due to its clean interface and strong brand trust.
  • Paytm continues to hold relevance but faces stiff competition from the top two players.
  • The “Others” category—at 10%—includes apps like Amazon Pay, BHIM, CRED, and banking apps.

India’s digital payment space is increasingly consolidated, with PhonePe and Google Pay collectively holding over 80% of the market. This duopoly reflects consumer preferences for reliability, cashback incentives, and a smooth user experience.

As UPI adoption deepens across tier-2 and tier-3 cities, players that innovate on ease of use and ecosystem integration will continue to thrive.

Finance

India Becomes the ‘Largest Bitcoin Holder’ in Retail with $120 Billion

Tanisha Cardozo

Written by Intern Queeny George M.H , Team Allycaral

August 27, 2025: India has quietly emerged as a dominant force in global cryptocurrency holdings. With an estimated $120 billion in Bitcoin alone, India is now the second-largest holder globally, just behind the United States — and possibly leading in retail ownership.

According to blockchain data and estimates, India holds nearly a million Bitcoins, equivalent to over 5% of the global BTC supply.

India now ranks #1 in the Global Crypto Adoption Index, according to a 2024 report by blockchain analytics firm Chainalysis. Another report from Triple-A indicates that 90 million+ Indians — about 8% of the population — own some form of cryptocurrency.

This growth reflects India’s evolving financial landscape, tech-savvy youth, and increasing acceptance of digital finance.

“Crypto in India is no longer fringe — it’s going mainstream,” say analysts.

While millions are entering the market, the bulk of capital remains concentrated among a few thousand elite players.

An Economic Times report highlighted that nearly 50% of CoinDCX’s trading volume comes from just 3,500 high net-worth individuals (HNIs), family offices, and institutional investors. This trend reflects a pattern seen on other major Indian exchanges as well.

So while adoption is wide, the wealth is still top-heavy — a sign of both opportunity and imbalance in the evolving crypto ecosystem.

As regulation slowly matures and investor education increases, India’s potential to shape the global crypto economy continues to grow. Whether you’re a seasoned HODLer or a curious newcomer, the Indian crypto story is one to watch.