MAM
Nipun Jain takes charge as RapiPay CEO
Mumbai: Homegrown assisted payments fintech company RapiPay on Tuesday announced the appointment of Nipun Jain as chief executive officer.
The leadership rejig at RapiPay is with an objective to gain a foothold in the neo-banking domain and thus expand the company’s business further. RapiPay is working on expanding its footprint in the rural areas and tier-II cities to foray into newer businesses such as digital lending, POS, digital cards, investments, insurance, and other financial services, said the company in a statement.
“RapiPay intends to be one step ahead in the growing fintech space and is set to take the lead by getting into newer businesses to fulfill country’s ever-growing demand for banking, financial and payment services,” said RapiPay Fintech Pvt Ltd, promoter, SK Narvar. “Jain’s appointment as CEO is a crucial step on that path and I wish him continued success in his new role and look forward to greater achievements.”
“I am also excited to see how RapiPay will continue to grow, evolve and be a one-stop destination providing a digital financial ecosystem to Indian consumers,” Narvar further said.
Jain has a rich experience of three decades as retail banking professional with expertise in setting and scaling up businesses. He is proficient in managing large retail assets, business banking, and branch banking franchise. Prior to joining RapiPay, Jain has previously worked with Yes Bank and ICICI Bank.
RapiPay Fintech Pvt Ltd, MD, Yogendra Kashyap said, “Jain has an impressive track record in various banking services, and I am happy to welcome him as the CEO of the company. His proven leadership, deep expertise in banking, and passion for client-driven innovation will make him the ideal fit to lead RapiPay into its next chapter.”
Speaking on his new role, Jain said, “I am extremely excited to lead the team at RapiPay, joining an organisation that is well-positioned to grow the financial inclusion to the last mile in the country by shaping the future of assisted payments and financial services through neo banking.”
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
