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The anchor book saw participation from large domestic mutual funds including SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund, among others.
![The MCC mayhem: HDFC Bank enters the scene; PayU sues banks; Razorpay prepares to contest IRF claims [Exclusive]](/upload/theheadandtale.com/2026/09/1789475840_7b2f2e1ea7_mcc_misuse_2.jpg)
What began as a one-off dispute in which ICICI Bank quietly initiated interchange reimbursement fee (IRF) claims over MCC misuse is now turning into an industry-wide contest.
Recently he had faced allegations of violating corporate governance norms, which the bank later denied.
The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.
The fund is anchored by HDFC AMC’s Select Fund of Funds I.
Chakraborty cited practices within the bank that did not align with his personal values and ethics.
![The corporate credit card that wasn't really a credit card – now under the RBI lens [Exclusive]](/upload/theheadandtale.com/2026/02/1771833208_9473128f76_corporate_credit.jpg)
Two years after the RBI halted commercial card-based vendor payments, the regulator has now turned its attention to another 'corporate credit card' structure.
The Reserve Bank of India granted approved HDFC Bank's subsidiaries to acquire upto 9.5% stake in IndusInd.
This is a market-share view of UPI payment flows handled by payments aggregators through 'UPI Collect' method.
The funding was raised from Advenza Global Ltd, Atharva Green Ecotech LLP, HDFC Bank and Artha Select Fund, among others.
The anchor round saw participation from 17 domestic mutual funds, including HDFC, Kotak, SBI and Axis Bank.
About 27 organisations, including NPCI, Cred, Axis Bank, HDFC Bank, SBI Cards, Google, and Zeta have joined as members of the 2025-26 board.
Ankush Sabharwal, founder & CEO of CoRover, said that the partnership with HDFC Bank signals a shared commitment to building AI that is sovereign.
The appointment marks another quick leadership transition for Paytm Money, as current CEO Rakesh Singh had assumed the role just last year.
Zerodha, led by the Kamath brothers -- Nithin Kamath and Nikhil Kamath, also held on to its second spot with a 15.58% market share and 7.58 million users.
