eNews
Betting racket whacked for Rs 307 crore as ED strikes in Dubai
NEW DELHI: India’s financial crimes enforcers have seized Dubai property and domestic bank deposits worth Rs 307 crore in a crackdown on an online betting operation centred around the Fairplay platform, according to a PTI report.
The Enforcement Directorate froze land, villas and flats in the Gulf emirate alongside Indian bank accounts under anti-money laundering laws, the agency said on Monday. The haul represents one of the largest asset seizures in India’s escalating war against illegal online gambling.
The probe stems from a complaint filed by Viacom18 Media with Mumbai Police’s cyber wing, alleging the betting platform had inflicted revenue losses exceeding Rs 100 crore through violations of information technology and copyright laws.
Investigators subsequently bundled together multiple cases against Fairplay and its associates for illegal online betting operations. The web of connected entities suggests a sophisticated money-laundering network spanning domestic and international jurisdictions.
The seizures underscore how Indian authorities are pursuing betting operators’ offshore assets with increasing vigour. Dubai has emerged as a favoured destination for parking proceeds from India’s booming but largely illegal online gambling sector.
The Fairplay case highlights the complex interplay between broadcasting rights violations and betting operations, with platforms allegedly using pirated content to drive traffic to gambling sites.
India’s regulatory crackdown on online betting has intensified as authorities grapple with the sector’s explosive growth and its links to money laundering and tax evasion.
eNews
PNB partners Kiwi to launch credit-enabled UPI for users
Targets 180 million customers; RuPay card offers 0.5 per cent to 1.5 per cent cashback
MUMBAI: Swipe, tap, or scan credit is quietly slipping into the rhythm of everyday payments, and Punjab National Bank wants in on the action. The state-run lender has partnered with Kiwi to roll out credit-enabled UPI payments for its 180 million customers, marking a significant push to blend traditional banking with India’s fast-evolving digital payments ecosystem.
At the centre of the collaboration is the launch of the PNB Kiwi Credit Card on the RuPay network. The card is designed with a digital-first approach, offering fully online onboarding and seamless integration with UPI, allowing users to transact via scan-and-pay while accessing credit.
The offering also brings in a rewards layer, with cashback ranging from 0.5 per cent to 1.5 per cent on online transactions, positioning the product as both a convenience play and a spending incentive.
The move comes as UPI continues to dominate India’s digital payments landscape, increasingly blurring the lines between debit-led transactions and credit access. For PNB, which operates over 10,000 branches around 60 per cent in semi-urban and rural areas, the partnership signals a targeted effort to extend formal credit to segments that have traditionally remained underserved.
The collaboration also reflects a broader industry shift, where banks and fintech platforms are converging to embed credit directly into payment flows, reducing friction while expanding access.
With RuPay credit cards gaining traction and UPI evolving beyond peer-to-peer transfers, the PNB–Kiwi tie-up positions both players at the intersection of scale, accessibility, and the next phase of digital finance in India.
