iWorld
RBI invites producers to make series about itself
Mumbai: We don’t see this happening very often. The Reserve Bank of India has placed a tender notice through which it is inviting producers, OTT platforms, TV channels to produce a series about itself. The series is expected to highlight the central bank’s journey as it enters its ninetieth year.
The notice has invited interested parties to take part in the process through a two-bid system (technical and financial). A budget of Rs 70 million ($836,000-odd) has been kept aside for the production. Bidders have to submit an earnest money deposit of Rs 1.4 million through a bank guarantee.
The Rs 70 million is expected to cover the cost of production and distribution with the former accounting for a minimum of 70 per cent of the overall expenses.
The details of the tender are available by clicking on the link below.
https://www.rbi.org.in/Scripts/BS_ViewTenders.aspx?Id=10499
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
