FINANCEOUTLOOKINDIA9JULY, 2026PAYTM WALLET SERVICES TO RESTART SOON; APPLIES FOR PPI LICENSESEBI INTRODUCES A SINGLE CERTIFICATION EXAM FOR MF & SIF DISTRIBUTIONSBI FUNDS IPO LISTING MISSES EXPECTATIONS DESPITE RECORD DEMANDITR FILING 2026: PORTAL UPGRADED AS FILING RUSH DOUBLESHDFC BANK LOSES RS 90,000 CRORE MARKET VALUE IN TWO DAYSThe rush to ITR Filing is picking up, and so is traffic on the income tax portal. As millions of taxpayers log in before the July 31 deadline, the government says it has upgraded e-Filing portal to make it faster and more reliable, with the changes disclosed in Parliament by the Finance Ministry.The data shows that portal usage has been steadily increasing over the past week (8-14 July 2026). The largest increase was in ITR filing, with as many as 8,38,724 ITRs being filed on 8 July 2026 which is nearly double the 4,26,961 ITRs filed on 8 July 2025. It was a continuation of the trend as filings reached 10 lakh on 10 July (10,41,223) and 11 July (10,87,871). The peak number of ITRs filed on the day was on 14 July 2026 with 12,21,854 ITRs being filed, against 4,09,437 on the same day last year. Shares of HDFC Bank extended their previous session's decline, falling over 7% in two days and wiping out Rs 89,636 crore from its market valuation, after the lender's quarterly earnings disappointed on the margin front.It dipped 2.08% to Rs 761.45 on the BSE. During the day, it slipped as much as 2.25% to Rs 760.10. At the NSE, the stock also dipped 2.08% to end at Rs 761.45. The shares of HDFC Bank were down more than 5% on Monday and have fallen by 7.10% in two days wiping out Rs 89,635.73 crore from the valuation of the blue chip stock.The HDFC Bank index was down for two straight days. The 30-share BSE Sensex declined 238.41 points, or 0.31%, to settle at 77,470.11, while the 50-share NSE Nifty edged lower by 50.80 points, or 0.21%, to end at 24,187.70. Paytm, the parent company of One97 Communications, has filed for a Prepaid Payment Instrument (PPI) licence with the Reserve Bank of India (RBI), continuing on its quest to revive its digital payments venture. This will enable Paytm to resume its wallet services as an independent entity, if approved.With the RBI approving the PPI licence, Paytm could resume its digital wallet offerings, thus SBI Funds Management has become one of the listed asset management companies (AMCs) on Dalal Street, providing another investment opportunity for investors to benefit from the expansion of the Indian equity market. Its market rollout, however, has been less than expected.On July 21, shares of the country's biggest asset manager debuted at Rs 613.30 apiece, a 7% premium over the offer price of Rs 574 - missing expectations, as analysts and the grey market had signalled a listing pop of nearly 16%. The gap between anticipated and actual gains left many investors who had bet on a stronger debut somewhat disappointed. Markets regulator SEBI has introduced a single certification examination for persons selling and distributing mutual funds and Specialised Investment Funds (SIFs), a move aimed at simplifying eligibility requirements for distributors.Under the new framework, any person employed or engaged in the sale or distribution of Specialised Investment Fund products will need to hold a valid NISM Series V-D ­ Mutual Fund-Specialised Investment Fund Distributors Certification, SEBI said in a circular issued. The new certification will allow distributors to sell both mutual fund and SIF products, removing the need for them to separately obtain the NISM Series V-A ­ Mutual Fund Distributors Certification. providing customers with another payment alternative to the UPI. The transaction would also increase usage of the app and enhance the merchant payment system within the app. Apart from that, getting this license would enable Paytm to diversify its payments segment from bank partnerships, which it traditionally relied on for wallet operations.
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