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UFO Moviez to forego 100% salary at MD, JMD level for team’s sake
MUMBAI: India’s largest cine media network UFO Moviez has decided to forego 100 per cent salary at MD, JMD level and 50-60 per cent salary at the entire leadership team level so that each and every member of its team is taken care of in this difficult time. According to a company press release, the cine network will continue to do whatever it takes to ensure the wellbeing of its team and the society at large.
The ongoing nationwide lockdown has severely impacted all segments of the economy, and more so for the cinema exhibition industry as theatres have shuttered across the country. Cinema being an out-of-home entertainment option, the film industry has been significantly impacted and will take the longest time to recover.
“The leadership team of UFO acknowledges the current crisis and its challenges and are determined to ensure that every employee down to the frontline/lowest level is protected and does not lose his/her livelihood. UFO firmly believes that the show must go on, come what may,” stated the release.
Simultaneously, the company is developing long-term survival strategies to insulate it from such unforeseen events in future. UFO employees have been encouraged to give their ideas and suggestions on cost optimisation, identifying newer revenue streams by utilising its current strengths and infrastructure.
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.
