When you think of moving cars and trucks on Indian roads, two names instantly pop up: Tata Motors and Ashok Leyland. From the car you drive to the bus you hop on every morning, chances are it rolled out of a factory owned by one of these giants. But while both have become household names, they’ve taken very different routes to become a key player in the Indian automobile sector.
Tata Motors is a bit of a jack-of-all-trades as you’ll find their name on practically everything, from compact city cars and rugged SUVs to commercial trucks and other electric vehicles. They’ve got their foot in almost every segment of the automobile world. Ashok Leyland, on the other hand, has carved out its niche by building tough, reliable trucks and buses that keep India moving.
In this blog, we’ll learn about what sets them apart and help you decide who’s driving ahead in the areas that matter most to you.
Tata Motors – An Overview
For decades, Tata Motors has been more than just a name on Indian roads. Established in 1945 under the wing of the legendary Tata Group, the company first started by building locomotives. But it wasn’t long before they set their eyes on something bigger and hit the road.
In 1954, Tata Motors Ltd unveiled its first commercial vehicle as a result of its partnership with Germany’s Daimler-Benz. That was just the beginning and over the years, they’ve built everything from trucks and buses to stylish passenger cars and modern electric vehicles.
One of their biggest achievements was in 1998 with the launch of the Tata Indica, the first car designed and built entirely in India. It was a game-changer and of course, who could forget the Tata Nano? It turned heads worldwide as the most affordable car on the planet.
Then came 2008, as Tata Motors acquired not one but two legendary car brands: Jaguar and Land Rover from Ford Motor Company. With that bold move, they weren’t just playing in the big leagues, they were announcing themselves on the global stage.
Fast forward to today, Tata Motors is steering into the future as it’s no longer just about building vehicles, it’s about reimagining mobility itself. From electric cars and connected tech to cleaner, smarter public transport, they’re focused on moving India, and the world, forward, one innovative step at a time.
The company’s name, Ashok Leyland Ltd, has been synonymous with commercial vehicles for a long time, visible to anyone who ever caught a glimpse of a bus or a big truck passing by. Ashok Leyland was established in 1948, and as soon as India gained independence, it was known as Ashok Motors. Soon after, Ashok Motors partnered up with Leyland Motors, and this led to the formation of the brand we know today as Ashok Leyland.
From the early days of assembling Austin cars to becoming one of the top commercial vehicle manufacturers in India, it’s been quite a journey. Over the decades, Ashok Leyland has built everything from buses that carry millions of people daily to powerful trucks that move goods across the country. They’re even behind some of the vehicles used by the Indian Army.
What makes Ashok Leyland special is its forward-thinking and constant efforts to align its products with the needs of the customers. They’ve led the way in adopting cleaner and more efficient technologies, and are also pushing the frontiers in electric mobility and alternative fuels. Ashok Leyland, in the past few years, has become an international brand as well as it serves more than 50 countries across the world.
If you want a company that manufactures everything such as cars, trucks, electric vehicles, and owns even luxury brands like Jaguar and Land Rover, Tata Motors is the winner. It’s bigger, has a global presence, and is leading the way in electric mobility too.
But if you’re focused only on investing in companies involved in manufacturing of commercial vehicles like trucks and buses, Ashok Leyland can be a good investment option. It’s more specialised and reliable in the commercial vehicle segment.
However, it is necessary to conduct thorough research before investing in any of them. It is always recommended to consult a financial advisor before investing.
Tata Motors and Ashok Leyland have both created their unique brand image in both the Indian and global automotive industry. Tata Motors is known for its diverse product range, from ordinary cars to high-end electric models, while Ashok Leyland continues to stick to its core competencies, i.e. manufacturing trustworthy and reliable trucks and buses. Regardless of whether you focus on R&D capabilities, a global presence, or consistent financial performance; both companies have something to offer. It’s not about which is better overall, it’s about which one fits your investment objectives best. You are advised to consult a financial advisor before investing.
S.NO.
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In recent years, there has been a substantial increase in the number of individuals participating in online trading in India. When it comes to trading, picking the best trading app in India can set you on the path to success. There has been a surge in the number of discount brokers in recent years and a multitude of them claim to have the best trading app in India. But the question remains: ‘Which app is best for trading?’ or ‘Which one is best suited for you?’
In this blog, we are going to give you an overview of the best trading apps in India and factors to consider to select the best trading app according to your needs.
What are the Best Trading Apps in India 2025?
Trading applications are mobile-based platforms that facilitate the buying and selling of stocks, commodities, mutual funds, and other investment products through smartphones and tablets. In India, these apps are provided by registered brokers and financial institutions.
With the advancement of technology, the best trading apps in India have incorporated useful innovations and offered the following features such as:
No or very little commission fees
Quick stock market updates
Instant order execution
Intuitive apps that are easy to navigate
Technical analysis tools
Now, if you’ve ever wondered, “Which app is best for trading?” stay with us while we unveil the best choices for 2025.
Broker
Account Opening Fees
AMC
Futures
Options
Pocketful
Free
Free
₹20 per executed order or 0.03% of turnover, whichever is lower
₹20 per executed order
Zerodha Kite
Free
₹300 + GST
0.03% or ₹20, whichever lower
₹20 per executed order
Upstox Pro
Free
Free for first year, ₹300 + GST from second year
0.05% or ₹20, whichever lower
₹20 per executed order
BlinkX by JM Financial
0-Brokerage Subscription plans start from ₹249* *T&C Applied
Zero
Brokerage on NSE F&O (per lot) is ₹0 for 50 lots /daily
post lot limit: 0.01%/₹40 per lot
Brokerage on BSE F&O (per lot) 0.01%/₹40 per lot *T&C Applied
Same as Futures
Angel One
Free
₹60 + GST per quarter
₹20 per executed order
₹20 per executed order
5Paisa
Free
₹25 + 18% GST per month
₹20 per executed order
₹20 per executed order
ICICI Direct
Free
Free for first year, ₹700 + GST from second year. ₹300 + GST for iValue clients
₹20 per executed order
₹20 per executed order
Groww
Free
Free
₹20 per executed order
₹20 per executed order
Paytm Money
₹200
Free
₹20 per executed order
₹20 per executed order
Dhan
Free
Free
₹ 20 or 0.03% per executed order whichever is lower
Pocketful is an emerging stock broking firm and is a subsidiary of Pace Stock Broking Services. Pocketful has been developed by professionals with more than 27 years of experience and offers free equity delivery and zero account opening fees, making it the best option for both traders and investors.
Features
Advanced features for technical analysis
Zero account opening charges and zero AMC
Pockets feature to invest in a specific theme
All-in-one platform for both novice and seasoned traders
Advantages
Advanced Option Chain: Helps you trade quickly and efficiently.
Innovative Features: Includes Pockets, Superstar Portfolios, and daily and weekly Paper to track stock market events.
Free Trading APIs: Enables automated execution of custom strategies at no extra cost.
Disadvantages
New Market Entrant: Still building trust and brand recognition.
Limited Research Reports: Fewer analysis reports and insights compared to more established brokers.
2. Zerodha Kite
Kite by Zerodha is considered one of the top trading apps in India. Zerodha’s low-cost brokerage model combined with Kite’s exceptional reliability make it an ideal choice for novices and seasoned investors. Zerodha supports investing and trading in equity, commodity, F&O, and currency segments. Kite’s sleek and fast interface with advanced charts and real-time data makes it easier for traders to make informed trading decisions.
Features • No brokerage charges on equity delivery • ₹20/order for intraday and F&O • Zerodha trading app Kite can be linked with Coin (mutual funds app) • In-app charting with more than 100 indicators
Advantages
Affordable Brokerage Fees: Intraday and F&O trades attract a flat fee of ₹20 per executed order, while equity delivery trades for Zerodha attracts no brokerage at all.
Intuitive Design: Simple and easy to use interface
Technical Analysis Tools: More than 100 indicators available for advanced chart analysis.
Complete Investment Experience: Coin for investing in mutual funds, Kite for trading and Console for generating in depth reports and analytics.
Disadvantages
Limited Customer Support: Customer support teams may take longer than expected to resolve issues.
Relative High Fees: It charges high fees for call & trade services and auto square off making it costly for some traders.
3. Upstox Pro
Upstox is among the top 10 stock trading apps in India because of its quick trading platform and low pricing. It allows trading in stocks, commodities, mutual funds, and IPOs and is backed by Tata Group. Upstox is best suited for active traders due to its advanced order types and charting tools.
Features • ₹20/order flat brokerage • Margin trading facility • Live market data and alerts • Customizable watchlists
Advantages
Affordable Pricing: No commission charges on equity delivery trades; additionally, ₹20 per order for intraday, F&O, and commodity trades.
Advanced Charting: Offers TradingView and ChartIQ charting facilities, containing over 100 technical indicators.
Quick Account Opening: Users can open accounts digitally and effortlessly through KYC.
Limited Customer Support: Responding to customer’s issues promptly has been flagged as an area the business does poorly in.
No Personalized Advisory: The absence of investment advisory reports.
4. BlinkX
BlinkX, powered by JM Financial, is an advanced trading platform specifically designed for active traders. It offers a comprehensive suite of tools to support high-frequency trading and strategy optimization. BlinkX is redefining affordability through its innovative subscription-based pricing models. With its focus on high-volume options trading, BlinkX uses a trader-first mindset, offering premium features and fast execution. With a design tailored specifically for professional traders, BlinkX’s robust mobile and desktop platforms provide reliability and speed even during peak market hours. Features
Basket Orders from Option Chain
Buy/sell F&O using Flash Trade
Option trading research recommendations
Readymade and pre-built strategies
0-brokerage subscription plans start @ ₹249 / 2 months. To get started, 2-month Silver Plan worth ₹249 is now FREE*
Advantages
Features designed for Advanced Traders like Option Chain, Flash Trade, and Chart-based Trading
Get Options Trading and Equity Recommendations by JM Financial
Pricing made for traders
Access all features on the desktop and mobile applications
Disadvantages
The web trading platform is currently in development, with ongoing upgrades being made to its features.
While BlinkX, a new initiative by JM Financial, is still in the process of empowering new traders, it is gradually working towards integrating cutting-edge technologies to shape the future of trading.
*T&C Applied
5. Angel One (Previously Angel Broking)
Angel One started as a full service broker and has also been offering discount brokering services from quite some time through its easy to use mobile application. It also offers ARQ Prime, an AI-powered advisory tool, which makes it a combination of traditional and discount broking services.
Features
Flat ₹20 brokerage
ARQ Prime recommendations
Smart API integration
Real time notifications
Advantages
Wide Range of Investment Opportunities : Offers equities, derivatives, commodities, mutual funds, and IPOs.
No Charge for Equity Delivery : No brokerage charge for delivery of equity trades.
AI-driven recommendations : Features like ARQ Prime that provides customized investment recommendations using big data analytics.
Disadvantages
Customer Support : Long waiting time or delayed responses is one of its disadvantages.
Annual Maintenance Charges (AMC): Loses appeal to traders who do not actively trade as the account attracts AMC meant for account upkeep.
6. 5paisa
5paisa offers competitive brokerage prices complemented by smart tools. The company was launched as a subsidiary of the IIFL Group and was later demerged and listed on the stock exchange. It offers online trading, mutual funds, insurance, and loans all in one app.
Features
For every order, there will be a flat fee of ₹20
Offers robo-advisory services for beginners
Provides auto investor packs
Offers multiple plans for professional users
Advantages
Very Low Brokerage Cost: Charges are lower than average and set as a flat rate of ₹20 per executed order in all segments.
Multiple Types of Investment Products: Provides investment options in equities, derivatives, commodities, currencies, mutual funds and IPOs.
Superior Trading Options: Other than standard trading options, 5paisa allows algo trading through trading APIs and offers real-time market information.
Disadvantages
Freezing Issues on the App: Users face issues such as unresponsive and sluggish order execution while submitting orders or navigate through the app during busy periods or high market volatility.
Needs Better Customer Support: Replies via email and chat take a long time especially during volatile market hours.
7. ICICI Direct Markets
ICICI Direct needs no introduction as it is a well-established brand across the finance domain. Its app is best suited for existing ICICI customers, but its functionality is sophisticated and dependable.
Features
Seamless integration with ICICI Bank
One-click IPO applications
Research backed investment ideas
Margin funding options
Even though the brokerage is higher, the service and research tools offered makes it worth it for serious investors.
Advantages
Complete account offering for clients: Provides 3 in 1 account comprising banking, trading and Demat for ICICI Bank customers.
Advisory and Research Services: Provides detailed research and recommended stocks to advise.
Disadvantages
Increased Brokerage Charges: ICICI Direct charges higher brokerage fees. With this full-service broker, these fees are much higher than those of discount brokers.
Complex Fee Structure: New investors may find the differing tier leveled fees structure much more complex than other discount brokers.
Restricted Clientele: Only for existing account holders of ICICI bank.
8. Groww
Groww has a user-focused trading app that lets investors buy stocks, mutual funds, IPO, etc. It is an easy to use app where opening a Demat account and trading account is online and paperless, also comes with zero maintenance fee making it one of the prominent trading apps in the Indian market. It offers real time market data, advanced chart for you to make informed trading decisions.
Cost-Effective Trading: A flat fee of ₹20 is charged per trade, while mutual fund services are offered without fees.
KYC-verified Account Opening: Integrated KYC process allowing for quick account creation.
Disadvantages
Technical Problems: Users experience app crashes and sluggishness during peak volatility periods.
Lack of Commodities and Currency Trading: Has no trading options in commodities and currencies.
9. Paytm Money
As a branch of the well-known Paytm app, Paytm Money is simple to use and combines several services like banking, mutual funds, and stock trading.
Features
User-friendly registration process
Allows direct mutual fund purchases
Easy portfolio tracking
Advantages
Low Brokerage Costs: Has ₹20 per executed order in charges for options trading that is affordable for traders.
Choice of Investments: Supports investments in stocks, derivatives, mutual funds, ETFs, IPOs, NPS and digital gold from a single application.
App Interface: Clean and easy-to-use interface that accommodates those who have just started and is fluid across trading in different investment products.
Disadvantages
Limited features: Doesn’t have advanced charts and analytics compared to other trading applications.
Occasional App Crashes: There appear to be reports of the app crashing, slower response time, login issues from some users particularly in volatile markets.
10. Dhan
Dhan is a brand new company but has gotten popular very quickly due to its order execution speed and simple user interface. Catering to today’s investors, Dhan allows trading in equities, F&O, ETFs, etc.
Features:
Flat fee of ₹20
Allows advanced options for trading
API is available for traders
Can trade directly on charts
A fast rising star which is worth monitoring.
Advantages:
Zero account opening : Dhan provides free account opening and zero annual maintenance charges.
Feature loaded : Comprehensive features like advanced trading view chart, basket and iceberg orders, instant pledge/unpledge options, and a quick platform for options trading.
Low cost : Dhan charges no brokerage for investing in mutual funds and equity delivery, also it only costs Rs.20/executed order for F&O and Intraday trades.
Disadvantages:
Not ideal for beginners : It does not have easy to understand mobile application tutorials, making it challenging for beginners.
Improper customer support : Users criticize the application for unresponsiveness during peak market volatility.
Factors To Keep In Mind Before Looking Into Indian Trading Apps 2025
Before using any trading apps, here are some considerations you want to look into:
Pricing: Trading apps such as Pocketful, Zerodha, Upstox, etc. have a simplified fee structure, whereas brokers such as ICICI, Kotak, etc. have a complicated pricing structure.
App: One should look for a trading app that is easy to use, fast, and user friendly as you will spend all your trading time on these apps.
Available Investment Options: Not all assets are supported by each trading application. Check whether you can invest in the assets which interest you: shares, mutual funds, and commodities.
Research Tools and Alerts: Some applications provide advanced investment insights and technical charts which make decision-making easier. Make sure your application provides analysis and updates in real-time.
Customer Support: Customer support can help you resolve your issues promptly. Prefer those trading apps which offer 24×7 customer support or live chat bots.
Security: Always select brokers that are SEBI registered and have powerful encryption along with biometric login and other safety features.
Speed of Execution: Every second counts for intraday or F&O traders. Real-time execution with very minimal lag is indispensable.
Reviews and Ratings: Always consider user feedback and ratings on the Play Store or App Store. Feedback from users can help you judge the trading application appropriately.
Selecting the best trading app in India in 2025 depends on personal requirements, past experience, and financial objectives. Various new age brokers such as Pocketful, Groww, Upstox, BlinkX, etc. have built user-friendly mobile apps that enable even beginners to start their trading journey effortlessly. These features include zero brokerage on equity delivery, latest market information, an intuitive interface, and flat brokerage on F&O orders. Answering the question of which is the best app is simple. It’s the one that resonates with your investment strategy and financial goals.
S.NO.
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The definition of the no.1 trading app in India varies across users due to different trading styles. For example, people doing delivery trading may not be concerned with F&O charges. However, in general, the trading app should be easy to use and have a competitive pricing structure to be categorized as the no. 1 trading platform.
Which is the best app for beginners?
For novice users, Pocketful is a top recommendation due to its simple interface, zero AMC, zero account opening fees, and competitive brokerage charges.
Are these apps safe to use?
Definitely, as all these apps are provided by SEBI-registered brokers which have advanced security measures like encryption, authentication protocols, etc.
Can I open a Demat account through these apps?
Yes, you can open a Demat account using these apps. All of them offer the option to open Demat accounts online.
Which app is best for intraday trading?
Pocketful is the best for intraday trading due to high-speed execution, flat brokerage rates and zero AMC.
Along with the automobile industry in India, the tyre sector is also growing rapidly, especially as the demand for electric vehicles and smart mobility solutions is increasing. In such a situation, it becomes important for investors to know which tyre company can prove to be a good investment in the long run.
Apollo Tyres Ltd. and Ceat Ltd. are both well-known companies in the Indian market, whose business operations are spread across the country and abroad. Their different business strategies, focus on technology and future direction make them different from each other.
In this blog, we will analyze both these companies in-depth including their business model, financial health, expansion plans and market performance to help you understand which company is a better investment option.
Company Overview – Apollo Tyres Ltd
Apollo Tyres Ltd. was established in 1972 and today it is counted among the leading tyre companies in India. The company’s headquarters is located in Gurugram, Haryana. Over the past five decades, Apollo has established a strong presence in the domestic market as well as the global market. Its growth can be gauged from the fact that its products are now sold in more than 100 countries.
Manufacturing and International Network : Apollo has several modern manufacturing facilities in India, such as plants located in Chennai, Limbda (Gujarat), and Andhra Pradesh. Apart from this, the company also has manufacturing units in the Netherlands and Hungary. Thus, this Indian company has now become a global tyre manufacturer. The company’s strong supply chain and technology innovation help it in its global competitiveness.
Product Portfolio and Segments : Apollo Tyres manufactures tyres for passenger cars, SUVs, trucks, buses, light commercial vehicles and two-wheelers. In India, it operates under the brand name “Apollo”, while in Europe it has its presence under the name “Vredestein”. The company maintains a balanced focus on mileage, performance, and safety.
Business Model and Partnerships : Apollo Tyres’ business model is based on three major channels – OEM (such as Tata, Mahindra, and Ashok Leyland), replacement market, and international exports. The company is also continuously working on tyres for EVs and high performance vehicles.
Apollo Tyres Ltd. has established itself as an innovative and globally competitive brand in the Indian automobile industry. Its strong manufacturing capabilities, international expansion, and product diversity allow it to grow even stronger in the years to come.
Company Overview – Ceat Ltd.
Ceat Ltd. was founded in 1958 with roots in Italy but was later established in India and is now part of the RPG Group. The company initially manufactured tyres for commercial vehicles but over time also started manufacturing tyres for two-wheelers, passenger vehicles, agricultural and industrial vehicles. Today, Ceat is among the top tyre companies in India and is constantly expanding its portfolio.
Global Positioning and Production Capacity : Ceat tyres operations are no longer limited to India. The company exports its products to over 110 countries. Its major manufacturing plants in India are located in Nashik, Halol, Nagpur and Chennai. In recent years, the company has prioritised EV tyre manufacturing at the Nagpur unit, reflecting its future-focused vision.
Key Businesses and Services : Ceat manufactures tyres across various segments such as two-wheelers, cars, SUVs, trucks, buses and three-wheelers. Apart from this, the company also designs tyres for farm equipment and off-road vehicles. The brand identity is based on the balance of mileage, safety and performance. The company actively operates in both OEM and replacement markets.
Business Model and Market Approach : Ceat sells its tyres through three main channels: OEM (to auto companies), replacement (to customers), and export. It is also a supplier to prominent automobile companies like Bajaj Auto, Hero MotoCorp, Tata Motors and Mahindra. The company is now focusing on tyre technology for EV vehicles as well.
Ceat Ltd. has built an image of a trusted tyre brand keeping in mind the needs of Indian roads and consumers. Its production capacity, investment in technology and diversified product range make it ready for future demands.
Target of $5 billion revenue and 15%+ EBITDA margin by FY26 : Apollo Tyres aims to achieve $5 billion (approximately ₹41,500 crores) revenue and over 15% EBITDA margin by FY 2025-26. For this, the company has focused on five key areas: sustainable growth, digitalization, technology innovation, human resource development, and brand building.
Target to use 40% sustainable materials by 2030 : Apollo Tyres has set a target to use 40% sustainable materials in its tyres by 2030. The company has recently developed tyres made from 75% sustainable materials, which are now in the testing phase.
Improving production efficiency through digital innovation centers : Apollo Tyres has set up digital innovation centers in Hyderabad and London, which are improving production efficiency using technologies such as AI, machine learning, IoT, and cloud computing.
Targeting $500 million sales in the US : Apollo Tyres is currently doing sales of $120-130 million in the US and plans to increase this to $500 million.
Ceat Ltd.
Target to double export revenue to ₹4,000 crore by FY26 : Ceat Ltd. aims to double its export revenue to ₹4,000 crore by FY 2025-26, with a special focus on expansion in the car and truck tyre segment.
Leading position in the EV two-wheeler tyre segment : Ceat Ltd. has partnered with companies like Ather Energy in the EV two-wheeler tyre segment, giving it a strong presence in EV segment.
Capital expenditure of ₹1,000 crore in FY25 : Ceat Ltd. has set aside ₹1,000 crore for capital expenditure in FY 25, focused on capacity expansion at its Chennai and Ambarnath plants.
₹72.67 crore investment for EPR compliance in FY24 : Ceat Ltd. has invested ₹72.67 crore in FY 2023-24 under EPR (Extended Producer Responsibility) compliance and introduced eco-friendly tyres.
Who is better: Apollo Tyres or Ceat Ltd.?
Apollo Tyres and Ceat Ltd.both have their own strengths. Apollo is currently focused on innovation, sustainability and international growth. The company is working rapidly on strengthening its foothold in the US and adopting the latest technology.
On the other hand, Ceat is focused on the EV tyre segment, where it is already a leading supplier to EV manufacturers Ather. Also, the company is preparing to double its exports and is also increasing production capacity.
Both companies are moving in slightly different directions, and are adopting different strategies to solidify their market position. It is hard to say which one is better and you must thoroughly analyze both companies or consult a financial advisor before investing.
Conclusion
Apollo Tyres and Ceat Ltd. have both established themselves as a strong player in the tyre industry in their own ways. Apollo is expanding itself in the international market, while Ceat is focusing on electric vehicles and exports. Each company has a different business strategy, however both are trying to gain a better foothold in the tyre market. It is advised to consult a financial advisor before investing.
S.NO.
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Amid a shifting global economic landscape and geopolitical uncertainties, the RBI’s June 2025 monetary policy offers crucial insights into India’s financial direction. RBI released its new monetary policy on 6 June 2025, in which an attempt has been made to support economic growth by reducing interest rates.
Here’s a quick breakdown of key decisions shaping growth, interest rates, and market sentiment.
Key Decisions
Key decisions
Description
Repo Rate
Cut by 0.50%, new rate at 5.5%
Cash Reserve Ratio (CRR)
Reduced from 4% to 3%
Policy Stance
Now “Neutral”
FY26 GDP Growth Estimate
6.5%
FY26 Inflation Forecast
3.7%
Its Effects
Relief in EMI: Due to the reduction in interest rates, home loans and car loans will become cheaper.
Market boom: Positive sentiment seen in the banking and real estate sector.
Boosting economic momentum: Lower interest rates are expected to boost investment and spending.
Impact of RBI’s monetary policy on different sectors
RBI’s new policy affects every sector. Let’s see which sectors will benefit this time and why:
Banking and NBFC sector: When interest rates are low, banks get cheap money. This means that they will be able to give out more loans. NBFCs i.e. non-banking finance companies will also have access to cheap credit, making it easier for common people to take loans.
Real estate sector: This is good news for home buyers because the interest rates on home loans will be low, which will also reduce EMI (installment). This will encourage people more interested in buying a house, resulting in higher real estate prices.
Automobile sector: Buying cars and bikes will also become cheaper. Due to low interest rates, financing will be easy, encouraging more people to buy vehicles, especially during festivals.
Consumer goods and retail sector: When interest is low, people spend more. This benefits the FMCG and retail sectors selling everyday items as the number of buyers increases.
Stock market and capital market: A reduction in interest rates reduces the bond yield, which is a good sign for the stock market. This increases investor participation in equity markets and leads to a boom in the equity markets.
In this way, this policy decision of the RBI will strengthen the country’s economy as well as bring positive changes in various sectors.
Reasons behind RBI’s policy decision (June 2025)
The reasons behind the RBI’s decision regarding the rate cut have been explained below:
Balance of inflation and economic growth: Inflation rate (CPI) in India stood at around 3.16% in April 2025, which is lower than RBI’s target of 4%. This means that prices have not increased much. Therefore, interest rates were reduced to boost economic growth. Also, GDP growth has been estimated at 6.5% for the financial year 2025-26, which shows that the economy is growing at a good pace.
Global economic environment and challenges: Oil prices remain between $60 and $65 per barrel, down from a high of $80 per barrel in January 2025. Reduction in oil prices increases profit margins of companies. Apart from this, the Russia-Ukraine war and other political instabilities are also slowing down the economic recovery a bit.
Liquidity in the banking system: RBI has decreased the Credit Reserve Ratio (CRR) to 3% to increase the availability of cash. This means that banks will have more money, so that they can give more loans and this will accelerate economic activities.
Updated GDP and Inflation Rate Projections for FY26 As per June 2025 RBI Policy
RBI’s next monetary policy review will be in August 2025. This time the focus will be on inflation trends. At present, the inflation estimate for FY26 is 3.7%, but if this inflation increases more than expected due to a substantial rate cut, then RBI may have to change its strategy. Also, the monsoon situation will also be important because a good monsoon keeps the prices of food items under control and demand remains stable.
The world’s big central banks like the Fed of America and the ECB of Europe are now moving towards keeping interest rates stable or reducing them slightly. Due to this, RBI may also have to show some leniency in its decision. But at the same time, it will also keep a close eye on risks like credit growth and rupee volatility.
In short, the RBI will try to promote economic growth in the coming times as evidenced by the substantial rate cut of 50 basis points in June 2025. Its priority will be to maintain a balance between promoting economic growth and controlling inflation.
Conclusion
RBI’s monetary policy of June 2025 focused on maintaining a balance between inflation control and economic growth. In view of the global and domestic economic conditions, RBI has given priority to financial stability and economic growth. In the coming months also, RBI’s policies will affect the key economic sectors and equity markets. This is the time for investors and the general public to move forward with caution.
Frequently Asked Questions (FAQs)
What is the current inflation forecast by RBI for FY26?
RBI has projected inflation for FY26 at 3.7%, lower than the earlier estimate of 4%.
Has RBI changed the GDP growth estimate for FY26?
No, RBI has retained its GDP growth forecast for FY26 at 6.5%.
How will global economic conditions affect RBI’s policy?
Global economic conditions, especially the policies of the US and European central banks, influence RBI policy, thereby impacting India’s economic stability.
What should borrowers expect after the June 2025 RBI policy?
RBI’s policy is balanced, so a sudden big change in interest rates is less likely, but it is important to keep an eye on the market situation.
How does RBI plan to manage inflation and growth simultaneously?
RBI will continue to implement policy measures such as interest rate changes, open market operations, etc. to promote growth while keeping inflation under control.
You may have come across Bajaj Finance and Bajaj Finserv if you have searched for loans, insurance or investment options on the internet. They both seem alike, belong to the same group and are commonly found in similar web searches, but they aren’t the same.
So what exactly is the difference, and if you’re a customer or an investor, which one should you be looking at?
In this blog, we’ll explain everything in a simple way about each company and which one might be a better fit for your portfolio. Whether you’re trying to understand whom to approach for a loan or deciding which stock to invest in, this guide is here to make it easy.
Bajaj Finserv – Company Overview
Bajaj Finserv Limited is one of India’s leading financial services companies. It operates across a wide range of financial segments, including:
Consumer finance (like personal loans, home loans, EMI cards offered through subsidiaries)
Insurance (life and general)
Asset management
Wealth management
Mutual funds
Digital payments and more
It’s known for its quick loan approvals, flexible EMIs, and strong digital presence that makes borrowing or investing super convenient for individuals and businesses alike.
The company has its headquarters in Pune, Maharashtra and was founded in 2007 and is currently headed by chairman, Sanjiv Bajaj. The parent group is the Bajaj Group, which was founded by Jamnalal Bajaj in 1926.
Important Milestones
From 2008 to 2012: Bajaj Finance grew rapidly by offering consumer durable loans on easy EMIs, one of the first of its kind in India.
From 2013 to 2017: Expanded into personal loans, business loans, and housing finance.
2018: Bajaj Finserv crossed major growth thresholds as loan disbursements increased substantially and the assets under management crossed ₹1 lakh crore, with a combined customer base of 25 million.
2020–2022: Entered the digital payments space and launched Bajaj Finserv Wallet, Bajaj Finserv Health, and focused on building a digital ecosystem.
2023: Announced foray into mutual funds under the Bajaj Finserv Mutual Fund brand.
Bajaj Finance – Company Overview
Bajaj Finance Limited is one of India’s top non-banking financial companies (NBFCs). It offers a wide range of financial products and services, including:
Consumer durable loans (like TVs, mobiles, appliances on EMI)
Personal loans
Home loans
Business loans
Credit cards
Fixed deposits and investment products
The brand is recognised for offering No Cost EMI on various products, including gadgets, furniture, travel, etc., which is readily available at many partner stores and online platforms.
The business is headquartered in Pune, Maharashtra and started operations as Bajaj Auto Finance Limited in 1987. Interestingly, Bajaj Finance is a subsidiary of Bajaj Finserv.
Important Milestones
In 2007, Bajaj Auto underwent a corporate demerger. Its financial services arm became a separate entity, Bajaj Finserv Limited, and Bajaj Auto Finance was rebranded as Bajaj Finance Limited.
Rajeev Jain was the CEO, marking the beginning of a significant transformation.
Focus shifted from just auto finance to consumer lending, SME lending, and commercial lending.
From 2010 to 2020
Introduced EMI cards, allowing customers to shop for electronics, furniture, and appliances on easy instalments.
Rapidly expanded into digital lending, e-commerce finance, and partnerships with retailers and brands.
Built a wide offline and online network, facilitating extremely fast and hassle-free loan disbursals.
From 2020–Present
Launched the Bajaj Finserv App for digital financial solutions.
Stepped into the digital payments ecosystem with digital wallets and co-branded credit cards.
Leveraged AI, data analytics, and cloud technology for personalised financial services.
Despite market challenges like COVID-19, it bounced back strongly with innovative financial products and digital-first strategies.
Comparative Study of Bajaj Finserv and Bajaj Finance
PARTICULARS
BAJAJ FINSERV
BAJAJ FINANCE
Current Price (₹)
1,956
8,945
Market Cap (₹ Crore)
3,12,532
5,55,868
52-W High (₹)
2,135
9,710
52-W Low (₹)
1,511
6,425
FII Holdings as of March 2025
7.19%
18.91%
DII Holdings as of March 2025
9.34%
17.42%
Book Value (₹)
453
1,556
PE Ratio (₹)
35.2
33.4
As of 6 June 2025
Financial Statements Comparison
PROFIT & LOSS STATEMENT
Particulars
BAJAJ FINSERV
BAJAJ FINANCE
Total Income
1,33,821
69,724
Expenses
85,782
22,892
Net Profit
17,539
16,761
(All values are in INR crores and the data is as of March 2025)
BALANCE SHEET
Particulars
BAJAJ FINSERV
BAJAJ FINANCE
Current Liabilities
5,16,745
3,66,042
Current Assets
6,41,639
4,60,437
Reserves & Surplus
72,235
96,568
(All values are in INR crores and the data is as of March 2025)
CASH FLOW STATEMENTS
Particulars
BAJAJ FINSERV
BAJAJ FINANCE
Cash Flow from Operating Activities
-62,113
-68,154
Cash Flow from Investing Activities
-7,986
-2,765
Cash Flow from Financing Activities
70,191
70,527
(All values are in INR crores and the data is as of March 2025)
Inference
Bajaj Finserv has about ₹1.3 Lakh crore in revenues, which also includes revenues from its stake in Bajaj Finance. This approach reduces dependence on lending alone and promotes a more balanced portfolio. On the contrary, Bajaj Finance reported an impressive profit of ₹16,761 crore. Additionally, the company’s AUM surged past ₹3 lakh crore.
You can base your investment decision based on the following points:
If you want to invest specifically in the lending business, go for Bajaj Finance.
If you want diversified exposure (loans, insurance, mutual funds, etc.), then Bajaj Finserv is a better long-term pick.
However, it is advised to analyse the company’s financial statements and future business plans before investing. You should also consult a financial advisor to make an informed investment decision.
Ultimately, Bajaj Finance and Bajaj Finserv are two sides of the same coin, closely connected, but established for different purposes. If you’re a customer looking for loans, EMIs, credit cards, or fixed deposits, Bajaj Finance is the brand you’ll be dealing with. It’s fast, efficient, and focused on direct financial services. But if you’re an investor thinking long-term and want a slice of the entire financial services, from lending to insurance to digital solutions, then Bajaj Finserv gives you a more diversified exposure as the parent company. So, the “better” company depends on what you’re looking for. Whichever company you choose, one thing’s for sure that both companies have established a strong reputation in India’s financial services industry.
S.NO.
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Are Bajaj Finance and Bajaj Finserv the same company?
No, they’re not the same, but they’re related. Bajaj Finance is a subsidiary of Bajaj Finserv.
Which company gives loans, Bajaj Finance or Bajaj Finserv?
Bajaj Finance offers loans, EMIs, credit cards, and deposits. Bajaj Finserv does not directly give loans.
Is Bajaj Finance safe for FDs?
Yes, Bajaj Finance has high credit ratings (CRISIL AAA/Stable & ICRA AAA/Stable), making it a reliable FD option.Q4. Which company has more profits?
Which company has more profits?
Bajaj Finserv has marginally higher profits than Bajaj Finance, but it must be taken into consideration that Bajaj Finance is the subsidiary of Bajaj Finserv due to which a proportion of profits earned by Bajaj Finance is also reflected in profits of Bajaj Finserv.
Is Bajaj Finserv a bank?
No! It’s a non-banking financial holding company. It owns stakes in other businesses dealing in finance, insurance, and wealth management.
This question comes to the mind of every person who is interested in the stock market. When a private company offers its shares to the public for the first time to raise capital, it is called an Initial Public Offering (IPO). Its main objective is to raise funds from investors for expansion, reducing debt, and other purposes.
In this blog, we will discuss the various reasons due to which the company goes public and launch an IPO in detail.
Understanding IPOs
When a private company offers its shares to the general public for the first time, it is called Initial Public Offering (IPO). After this process, the company gets listed on the stock exchange and anyone with a trading and demat account can buy its shares. The advantage of this is that the company can raise funds quickly and can act quickly on its business plans.
Becoming a Public Company : After bringing an IPO, the company is identified as a public entity. Now it has to make its financial information public every quarter and must comply with regulatory frameworks set by bodies like SEBI and stock exchanges. This gives transparency to investors and also increases the brand value of the company.
Important Statistics Related to IPO in India
Latest scenario of IPO in India : The IPO market in India performed tremendously in the financial year 2024-25. During this period, companies raised a total capital of ₹3.71 lakh crore — which is 92% more than last year. In 2024 alone, the companies raised ₹1.67 lakh crore through IPOs, which is the highest in Asia.
Global Comparison: India now ranks first in terms of number of IPOs. While the US and China saw 205 and 130 IPOs getting launched in 2024, India’s count stood at 332.
Various reasons due to which the companies go public are listed below:
Access to Capital : Every business needs funds to expand whether it is to open a new manufacturing plant, invest in technology or repay old debts. By bringing an IPO, companies can raise large amounts of money directly from the general public. These funds help them to act on the business plans quickly, without the tension of repaying loan or interest payments.
Increasing Brand Value and Public Profile : When a company is listed in the stock market, its brand identity and credibility automatically increases. Its image becomes strong among investors, media and industry due to high regulatory requirements of SEBI. This also easily helps in getting new partnerships and clients and builds trust.
Exit option for Early Investors : Before bringing an IPO, the shares of the company are owned by a few sophisticated investors and founders. But through IPO, they get a chance to sell their shares. This process gives them liquidity, which is not easily available in private companies.
Attracting and retaining talent : In today’s competitive world, retaining talent is very important. After becoming a public company, employees with vested ESOPs can easily sell their shares as per the company’s ESOP (Employee Stock Ownership Plan) policies. After the IPO, the shares are traded and if the company’s share performs well, the trust of the employees in the company’s future increases and they are more inclined to stay with the company.
For all these reasons, bringing an IPO is not just a significant event in a company’s journey, but a strategic decision which can take the company on the path of long-term success.
When a company goes public by launching an IPO, it not only receives funds but also many strategic and long-term benefits. Let us understand these at a glance:
Benefit
Description
Capital Acquisition
The company gets significant capital from the public, which it can use for various purposes.
Market Visibility
Listed companies receive more attention from the media and investors, which increases brand visibility and credibility.
Share Liquidity
After the IPO, shares can be easily bought and sold, providing liquidity to old investors and employees.
Market-Driven Valuation
The stock market participants play a key role in determining the value of a company, which becomes a benchmark for future deals and investments.
Employee Incentives
Plans like stock options and ESOPs make it easier to attract and retain talent.
Better Borrowing Power
It is easier for public companies to get loans from banks on better terms as their financial information is publicly available.
Transparency
Strict regulatory rules improve the governance and trustworthiness of the company.
Disadvantages and Challenges
There are many benefits of a company going public, but there are some challenges and disadvantages associated with it as well. Let us know the major disadvantages and difficulties that a public company has to face:
Regulatory Compliance : A public company has to follow strict rules of SEBI and other regulatory bodies. This includes regular financial reporting, audits and providing comprehensive financial information, which can be time-consuming and expensive.
Market Pressure : The expectations of investors and the market increase a lot. The company’s management may feel the pressure to show good results every quarter, which can sometimes affect long-term business plans.
Loss of Control : Depending on shareholding structure, founders may experience dilution of control and increased accountability to public shareholders. They have to consider the interests of other investors, which complicates decision making.
High Costs : Advisors, investment banks and lawyers have to be paid in the IPO process. Apart from this, regular reporting and other corporate expenses also increase after becoming a public company.
Let us know the main steps a company follows to launch an IPO:
Step
Description
Selection of Underwriters
The company first selects the investment banks or firms that will manage the IPO. These underwriters help with pricing, marketing, and other due diligence required in the IPO.
Due Diligence
The financial, legal and operational status of the company is thoroughly examined to ensure that investors get accurate information.
Regulatory Filings
The company submits a Draft Red Herring Prospectus (DRHP) to SEBI. After review and incorporating changes based on SEBI’s comments, the final RHP (Red Herring Prospectus) is filed for public subscription.
Pricing the IPO
The initial price of the share is determined by looking at the market conditions, value of the company and demand among investors.
Marketing
Company’s representatives meet investors, explain the company’s strengths and plans to increase investor interest.
Going public and listing
Once the IPO opens, the retail investors can apply for the shares. After the IPO subscription period is over, the shares are allotted to the general public and the company gets listed on the stock exchange (like NSE or BSE) and are then traded.
Going public is a big decision for a company, which has many benefits and challenges. IPO helps companies raise funds and also increases its brand recognition, but with this the regulatory requirements and responsibilities towards stakeholders also increases. Therefore, it is important that the company takes this step thoughtfully.
Going public is not just a way to raise money, but is part of the long journey of the company. With the right timing and planning, it helps in moving the company forward. Therefore, the decision of IPO should always be taken wisely and strategically.
S.NO.
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CRED didn’t enter the fintech space with a product. It entered with the idea that good financial behavior deserves recognition. Launched in 2018, CRED quickly gained a reputation for being the best fintech platform for India’s top credit card users. It wasn’t just about paying bills, but about being part of a trusted community.
This CRED case study looks beyond the surface to understand what made a credit card payment app feel premium. With exclusive rewards and a members-only customer base, CRED built both loyalty and intrigue.
But how sustainable is it? What powers the CRED Business Model, and how does a rewards-first app justify its massive valuation? Let’s unpack the brand that turned financial discipline into social currency.
About CRED
CRED is a Bengaluru-based fintech platform founded by Kunal Shah in 2018. It is a platform that allows individuals with high-credit scores to get registered and make payments while earning rewards. The various services offered by CRED include:
CRED Cash+ (short-term credit against mutual funds)
CRED Pay (payments using CRED coin or saved credit cards)
CRED Mint (peer-to-peer lending)
Rent payments
Curated e-commerce section called CRED Store
The platform utilizes an AI-backed system to assess user’s credit behavior, verify eligibility, and tailor customized experiences. This technology enables CRED to maintain its premium user base. The platform also offers personalized suggestions, real-time tracking, and many more features.
With a strong focus on design, exclusivity, and community, CRED has become one of India’s most distinctive fintech brands. Its app offers not just utility, but an elevated financial experience for credit-savvy users who value rewards, simplicity, and trust.
CRED Valuation
In May 2025, CRED raised $75 million in a Series G funding round. Existing investors, including GIC, Sofina, and RTP Global led it. This round brought the company’s total funding to over $1 billion across nine rounds.
The current valuation is approximately $3.5 billion, a sharp drop from $6.4 billion in 2022. Additionally, the company plans to launch an initial public offering (IPO) in the near future.
CRED Key Statistics (As of FY 24)
Metric
Data
Revenue
₹2,473 crore
User Base
13 Million
Monthly Transacting Users (MTU)
11.5 Million, an increase of 34%
Total Payment Value (TPV)
₹6.87 lakh crore, which is a rise of 55%
Operating Losses
A fall of 41% to ₹609 crore
Customer Acquisition Cost (CAC)
Reduction of 40% approx.
Currently, the company continues to focus on expanding its user base and enhancing monetization strategies. This is why it is essential to understand the company’s performance; a complete SWOT analysis of CRED is essential.
CRED primarily follows a Business-to-Consumer (B2C) model. This model targets individuals with high credit scores who use credit cards. The platform incentivizes responsible financial behavior, such as when the user pays bills on time and earns rewards. To drive engagement, it focuses on gamification and personalized experiences.
Recently, CRED has expanded into some Business-to-Business (B2B) services. These are primarily focused on corporate expense management through its Happay platform, which CRED acquired in 2021 for $180 million. But still, its core revenue stream and growth comes from B2C only.
How Does CRED Work?
CRED functions as an invite-only platform. Typically, a 750 credit score is needed to get accepted. Once the app is downloaded, the credit score is checked at the backend. If the same is found satisfactory, the user is onboarded.
After onboarding, users can:
Pay Credit Card Bills: This is the primary feature. Users earn CRED coins on transactions.
Redeem Rewards: CRED coins can be used to claim exclusive offers and discounts on products from the CRED Store.
Access Financial Services: Users can access CRED Cash for instant credit, use CRED Mint for lending, and even pay rent via credit cards.
Monitor Your Credit Health: The app provides insights into your payment history. You can keep an eye on your credit card payments. CRED’s AI features help you track spend patterns and other card usage statistics with due date reminders on each payment.
The system is designed to reward responsible financial behavior while offering access to curated financial tools and premium benefits.
How Does CRED Earn?
CRED’s business model is designed to generate revenue from multiple sources. While the app is free for users, its monetization comes from options like:
Financial services
Brand partnerships
Platform-based tools
Others
If we dig in deeper, then here are the detailed revenue streams that CRED operates on:
1. Lending and Interest-Based Products
CRED earns revenue through CRED Cash, which offers short-term credit to users. It also facilitates peer-to-peer lending through CRED Mint, taking a service fee on interest earned.
2. Transaction and Processing Fees
Through features like RentPay, CRED allows users to pay rent using credit cards. A small convenience fee is charged on each transaction. Similarly, CRED Pay earns a merchant commission per successful order.
3. Brand Collaborations and Sponsored Content
Brands listed on the CRED Store pay for visibility through listing fees or commission on sales. Sponsored offers and reward placements also generate ad revenue.
4. Subscription Revenue from Businesses
After acquiring Happay, CRED now earns revenue by providing corporate expense management solutions for enterprises.
These revenue streams together fuel CRED’s long-term monetization strategy.
CRED aims to position itself as not just a fintech platform, but one that helps people maintain good credit discipline. This is one of the reasons that its marketing strategies focus on keeping messaging simple, engaging, and interactive. Some of the notable marketing strategies of CRED are as follows:
1. Exclusivity & Premium Positioning
CRED targets high-credit-score individuals. It positions itself as an exclusive, aspirational platform. The brand’s slogan is “Not Everyone Gets It.” This reinforces a sense of privilege, making membership feel special and desirable.
2. Creative & Viral Advertising
The advertisements or creatives are mostly quirky. These ads are designed to entertain, spark conversation, and become cultural moments. This helps the brand stand out in a crowded fintech market. Additionally, it enables people to connect with the brand.
3. Influencer & Social Media Engagement
The brand collabs with celebrities, comedians, and influencers to amplify reach and credibility. Witty, on-trend content on platforms like Instagram, Twitter, and YouTube helps the CRED stay relevant among its user base.
4. Event-Based Campaigns
CRED runs major promotional campaigns. This is mainly during high-visibility events like the IPL. It uses contests and giveaways to drive user engagement and app downloads.
5. Gamification & Rewards
The CRED Coins rewards program incentivizes users to pay credit card bills through the app. This empowers repeated usage and loyalty with exclusive offers at times.
6. Educational Content
CRED also educates its niche audience about financial management through engaging content. This builds trust and positions CRED as a leader in personal finance applications.
Here are some notable advertisements by CRED that captured audience attention greatly.
Rahul Dravid – “Indiranagar ka Gunda” (IPL 2021)
This ad became a cultural phenomenon. It featured the usually calm cricketer Rahul Dravid losing his temper in traffic and declaring himself “Indiranagar ka Gunda.” This unexpected portrayal instantly went viral, sparking widespread discussion on social media.
Bollywood Auditions (2020)
This was an ad featuring celebrities like Anil Kapoor, Madhuri Dixit, and Govinda. All of them were auditioning for a CRED commercial. The theme was poking fun at themselves and the idea of celebrity endorsements. The self-deprecating humor and unexpected scenarios resonated with viewers. This helps in setting CRED apart from conventional fintech advertising.
CRED’s monthly active user (MAU) base reached 13 million in November 2022. It has maintained a steady customer base of 13 million for 16 consecutive months, up to early 2024.
By FY24, some reports estimated the total user base at 16 million. This reflects a year-on-year growth of about 58%. However, new user growth has remained stagnant for a while now.
The average monthly transacting user performs around 20 sessions per month.
CRED’s share in UPI transaction volume doubled from 0.5% to 1% between April 2023 and March 2024. Its share by value increased from 1.5% to 2.3% in the same period.
As of March 2025, CRED processed 144 million UPI transactions. These transactions are worth ₹55,000 crore. It is now ranking seventh in UPI transaction volume in India.
Financial Performance
Revenue rose sharply from ₹422 crore in FY22 to approximately ₹1,500 crore in FY23. It further increased to ₹2,473 crore in FY24.
Operating losses went from ₹1,024 crore in FY23 to ₹609 crore in FY24. This was mainly due to reduced marketing and customer acquisition costs.
Net losses increased modestly, from ₹1,347 crore in FY23 to ₹1,644 crore in FY24.
CRED reduced its customer acquisition cost by approximately 80% over 4 years. It also achieved a 27% reduction in marketing expenses in FY23.
Cash reserves stood at around ₹2,050 crore in FY23. This provides a runway for continued operations and growth.
Other Key Metrics
The average value of UPI transactions on CRED declined from ₹13,000 in January 2022 to ₹3,400 in March 2024. This is mainly due to the platform diversifying into smaller merchant and utility payments.
CRED’s product expansion has increased cross-selling opportunities, although the core user base remains stable.
Major Achievements of CRED
CRED has been able to stand out due to its persistent efforts and strategic approach. Some of the major achievements of CRED that you must know are as follows:
Rapid Revenue Growth: CRED’s revenue surged by 66% to ₹2,473 crore in FY24. It is estimated to reach around ₹3,000 crore in FY25, reflecting strong financial momentum.
Large and Engaged User Base: By June 2024, CRED reported 13 million monthly active users and processed 144 million UPI transactions worth ₹55,000 crore in March 2025. This makes it the seventh-largest UPI payment app in India.
Product Diversification: CRED evolved from a credit card bill payment platform into a financial super app. It is now offering UPI payments, utility billing, vehicle management, travel, wealth management, and loans against mutual funds.
Strategic Acquisitions: The company expanded its portfolio by acquiring platforms like Happay (expense management), CreditVidya (lending), Spenny (investments), and Kuvera (wealth management).
Strong Funding and Valuation Milestones: CRED became a unicorn within three years. It has raised over $1 billion from global investors. Also, despite a recent valuation reset to $3.5–$4 billion, it remains one of India’s most valuable fintech startups.
Now that you have all the basic details for CRED, let us complete a detailed SWOT analysis for better understanding. So, here are the things that you must know:
Strengths
Unique value proposition: CRED incentivizes timely credit card bill payments with rewards. This fosters financial discipline and strong user engagement through gamification and exclusive offers.
Strong brand identity and reputation: CRED is a premium and aspirational brand and is recognized for its innovative marketing strategies. It has created partnerships with leading brands.
Loyal and affluent user base: The platform attracts high-credit-score users. This makes it appealing for premium partnerships and targeted financial products.
Weaknesses
Limited user base: CRED primarily serves credit card holders. This excludes a large segment of the Indian population that doesn’t use credit cards.
High dependence on rewards: User engagement is heavily tied to the attractiveness of rewards. So, if these diminish, user retention could suffer.
Profitability challenges: Despite strong revenue growth, CRED remains loss-making, with high operational and marketing costs.
Opportunities
Service and market expansion: CRED can diversify into personal loans, insurance, investments, and target non-credit card users (e.g., UPI, debit card holders).
Data-driven personalization: Leveraging big data analytics and AI can enhance user experience and retention.
Partnershipsandinternationalexpansion: It can collaborate with e-commerce platforms and explore new geographies, unlocking new growth avenues.
Threats
Intense competition: The fintech landscape is crowded, with new entrants and established players constantly trying to increase their market share.
Regulatory risks: Changes in digital payments or credit card regulations could impact operations and growth.
User fatigue: Over-reliance on rewards and gamification can lead to declining engagement as the novelty wears off.
CRED has transformed how creditworthy users manage their finances in India. By blending design, exclusivity, and financial tools, it has built a brand that feels aspirational yet useful. Its journey from bill payments to a full-fledged fintech platform reflects smart product offerings and bold marketing.
While profitability remains a challenge, strong revenue growth and product expansion indicate long-term promise. With IPO plans ahead, CRED’s next phase will test its ability to scale sustainably. Its story offers a clear example of how user trust, community, and consistency can shape success in the fintech space.
S.NO.
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CRED is a fintech company that rewards users for paying credit card bills and offers lending, investment, and premium financial services.
Who can join CRED?
Only users with a credit score above 750 can join CRED, making it an exclusive platform for financially responsible individuals.
How does CRED make money?
CRED earns from lending, transaction fees, brand listings, financial product commissions, and B2B services.
Is CRED profitable?
Not yet. CRED has reduced losses and increased revenue. Yet, it is still working toward long-term profitability and financial stability.
What makes CRED different from other fintech apps?
CRED offers exclusive rewards and financial tools to users with high-credit scores, thereby promoting responsible financial behavior, making it different from other apps that promote discretionary spending.
Haldirams is India’s most popular snack brand today, which started in Bikaner in 1937. Due to the traditional taste and quality, this brand gradually spread across the country and today it has made its mark at the international level as well.
In this case study, we will learn about Haldirams’ business model, marketing strategy and do financial analysis and SWOT analysis on how this brand achieved such a great position on its own.
Haldiram’s: An Overview
Haldirams started in 1937 from a small snacks shop in Bikaner, Rajasthan, founded by Ganga Bhishan Agarwal, fondly called ‘Haldiram Ji’. He introduced Bhujia with a unique taste and crunchiness, which soon became popular among the people.
Over time, Haldirams expanded its business and set up its production plants in cities like Kolkata, Nagpur, and Delhi. Today, the company is headquartered in Noida, Uttar Pradesh.
Haldirams has a product portfolio of over 400 items, including snacks, sweets, frozen foods, ready-to-eat meals, bakery items and beverages. Some of the major products are:
Aloo Bhujia, Moong Dal, Chana Chur
Gulab Jamun, Rasgulla, Sohan Papdi
Ready-to-Eat Curries, Biryani, Paratha
Cookies, Biscuits, Fruit Juices
The company has also taken its products internationally and today it exports its products to more than 100 countries, including the US, UK, UAE, Australia and Canada. Haldirams aims to take the Indian taste to the global audience. The secret of the company’s success lies in its quality, traditional taste and innovation. Haldirams has proved that if quality and consumer preference is taken care of in the product, then even a small business can become a global brand.
Haldirams has adapted its business model over time to suit the ever-changing needs of consumers. It is not just a brand, but the result of a well-planned strategy in which every step has been taken thoughtfully.
Product Diversity and Innovation: Haldirams has always maintained diversity in the product range. Along with traditional namkeen and mithai, the brand is now also focusing on bakery, instant meals, health snacks and other items. Products like millet-based and low-oil snacks have also been included in view of the demand of the health-conscious customers.
Distribution strength: Haldirams’ reach is not limited to just grocery stores. It now extends to malls, cafe style outlets, online marketplaces and airport food courts. The company has started reaching out to new consumers through its website and quick delivery platforms (such as Swiggy Instamart and Zepto).
Revenue Sources
FMCG Retail: Packaged snacks and sweets have high demand.
QSR and Dining: Haldirams also caters to its customers through its restaurants and outlets.
International Trade: The company now exports its products to 100+ countries.
Investments in Operations and Technology: Haldirams has set up modern factories in multiple locations with automated production lines, food safety protocols and IoT-based quality tracking. Along with this, the company is starting a new plant in Bihta, Bihar to meet the demand of Eastern India.
Franchise Model and Global Mindset: The company’s expansion model is completely based on B2B and franchise partnerships, which makes it easy to enter new cities and countries at low-cost. Haldirams makes products according to local taste in each market, which allows it to take the taste of Indian snacks global.
Financial moves and brand value: In March 2025, Singapore-based Temasek agreed to buy nearly 10% of Haldiram’s for around $1 billion, putting the brand’s valuation close to $10 billion. It clearly shows how much international investors value and trust the Haldiram brand.
Haldirams’ business model is a powerful combination of traditional values and modern mindset, which has made it a household name not only in India but across the world.
Haldirams never relied on heavy ad campaigns. Their focus was always on letting the product speak, not promotions. But as the market changed, they adapted their strategy with the times without losing their original identity.
Low Cost Branding Campaigns: Initially, Haldirams relied more on in-store presence and word-of-mouth than TV advertising. Branded displays in stores, attractive packaging, and taste that speaks for itself — these were their first promotions. Their customer relationship was so strong that the brand spread on its own.
Smart Social Media approach: Now Haldirams is also quite active on social media, but not over-promotional. They share short reels, recipe ideas and creative content related to festivals on platforms like Instagram and YouTube. Their focus is on connecting with real people, not with flashy ads, but relatable stories.
Targeted campaigns and regional connect: They don’t run the same campaigns everywhere. In South India, their campaigns are localised and connect with their local customers. Their way of linking their product with the local culture during festivals is very natural and effective.
Direct connection with the customer: Haldirams responds to customer comments on social media, takes feedback and incorporates it in new products. Also, with offers like attractive discounts, buy-one-get-one and limited edition packs during festivals, they keep people engaged without trying to sell forcefully.
Haldirams’ marketing strategy is more relatable and down to earth than flashy or trendy. They not only maintain their product quality and taste, but also their place in people’s hearts and that’s their real win.
Financial Analysis of Haldiram
1. Financial Performance
Below is a summary of Haldirams’ financial performance:
Financial Metric
FY 2024
Revenue (₹ Crore)
12,800
Net Profit (₹ Crore)
1,400
FY 2024 metrics were widely reported and financial data of previous years is not publicly available as it is a private company.
2. Investment and expansion plans
Following Temasek’s investment, Alpha Wave Global and Abu Dhabi’s International Holding Company (IHC) have also invested in Haldirams. The investment will support the company’s expansion plans in international markets such as the US, Middle East and the UK.
3. Market position:
Haldirams holds around 13% of the Indian snacks market, making it a leader in the sector.
4. Future strategy
Merger of entities: The Delhi and Nagpur-based entities are being merged, which will bring uniformity in operations and increase the possibility of an IPO in the future.
IPO preparation: Haldirams may move towards a public listing in the near future, which is likely to raise capital and increase brand value.
New product segments: The company is also focusing on healthy snacks, millet-based foods and gluten-free products to keep pace with changing consumer trends.
Haldirams’ business model looks simple, but it is backed by a strong strategy and a keen understanding of the market. Below we will look at their strengths, where there is scope for improvement, and what they need to keep in mind going forward:
Strengths
Strong Brand Image: Haldirams’ name is associated with taste and trust. The brand value they have built over decades is their biggest strength today.
Diverse product range: From sweets to snacks, instant foods and healthy options – there is something for every age and taste.
Wide network: Haldiram’s products are easily available from big cities to small towns, and now even in the US and Europe.
Weaknesses
Low presence in South India: The company has a strong customer base in North and West India, but its reach in South India is still limited.
Low visibility in media: Haldirams’ marketing is still a little quiet. While other brands are running high-visibility campaigns, Haldirams mostly adopts a conservative approach.
Opportunities
Growing demand for healthy food: People are now moving towards healthy snacks and Haldiram’s can expand business operations rapidly in this category.
Expansion in foreign markets: There is a lot of demand for Indian snacks in foreign markets. If Haldirams launches some new variants according to the local taste preferences there, then there is a huge opportunity.
Threats
Growing competition: New brands are coming in the FMCG sector every year. Moreover, established players like Bikanervala, ITC, and Britannia are now competing directly with Haldiram.
Changing customer preferences: Today’s customers are not only looking for taste, but also health and innovation. Haldirams needs to experiment a little with its traditional image.
Haldirams has a strong customer base, but with time they need to work on their weak points and adopt new market trends. If they take the right decisions on healthy food, innovation and regional strategy in time, then they will remain on top of the Indian snack industry in the coming years.
The story of Haldirams is an inspiring journey from a small namkeen store to becoming a global brand. By combining traditional taste with modern packaging and innovative thinking, it has won the trust of crores of people in India and abroad. Its business model which includes a diversified product line, strong distribution and smart marketing makes its business operations sustainable. Even in the rapidly changing food industry, Haldirams has constantly upgraded itself, which proves its resilience and foresight.
S.NO.
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Exchange Traded Funds (ETFs) are becoming increasingly popular in today’s time. These investment instruments trade like stocks but offer the diversification and transparency of mutual funds by tracking stock market indices. In 2025, the global ETF market attracted $2 trillion of new capital, which shows their credibility and demand.
In this blog, the features and benefits of ETFs are explained in a simple and detailed manner. Moreover, a comparison between ETF and other investment options is shown to better understand them.
What are Exchange Traded Funds (ETFs)?
ETFs or Exchange Traded Funds are an investment option that follows a stock market index such as Nifty 50 or Sensex. The most special thing about these funds is that they can be bought and sold in the market throughout the day just like shares. That is, unlike mutual funds, ETFs can be bought and sold throughout the trading day at real-time prices, without waiting for end-of-day NAV pricing.
What do ETFs invest in?
ETFs invest not just in stocks but also in many other asset classes, such as:
Equity: Stocks included in the index
Bonds: Government or corporate bonds
Commodities:Such as gold, silver, etc.
International: ETFs that invest in companies of foreign countries
Sector-focused: Such as technology, pharma, banking, etc.
Some special features of ETFs (ETF Features)
Liquidity: Buy and sell whenever you want, like shares.
Transparency: ETFs provide their holding information and tracking error on a regular basis.
Low Cost: Fees are much lower than mutual funds.
Tax Efficiency: Better for tax planning.
Due to all these features, ETFs are becoming a smart, accessible and affordable option for investors these days. Be it a new investor or an experienced one, ETFs are proving to be useful for every investor profile.
Exchange Traded Funds (ETFs) are easy to understand, but they have some special features that make them different from other investment options.
Liquidity: ETFs can be bought or sold like shares throughout the trading hours. This means that when the market is open, investment or withdrawal in an ETF can be done at any time, that too at real-time price. This facility is not available in mutual funds.
Transparency: Most ETFs update their holding information on a regular basis. This helps the investor to know in which companies or assets his money has been invested.
Diversification : Investment can be made in different sectors, companies or asset classes through a single ETF. This distributes the risk and diversifies the portfolio.
Cost Efficiency: ETFs usually have a very low expense ratio because they passively follow the index, which results in reduced cost to the investor.
Tax Efficiency: ETFs are structured in such a way that the impact of capital gains tax is less. Especially when invested for a long time, the benefit of tax saving increases even more.
Benefits of Investing in ETFs
Exchange Traded Funds (ETFs) provide investors with an option that balances risk and also provides returns. Here are some reasons why ETFs are considered a smart investment choice today:
Flexibility: ETFs are traded just like stocks, which allows them to be used for intraday trading. This allows active investors to adopt multiple trading strategies.
Low Investment Threshold: Most ETFs do not require a large amount to start investing, which allows new and small investors to enter the market.
Variety of Choices : Today, there are sector-based, theme-based, international and bond-based ETFs, providing options for any investment goal.
Performance Tracking: The specialty of these funds is that they track the index or sector very closely, making the returns easily comparable.
Real-time pricing: The price of ETFs keeps changing throughout the trading hours, allowing for timely entry and exit.
Automatic risk diversification: An ETF invests in many stocks or assets, reducing the impact of a single company’s decline on the entire portfolio.
No entry or exit load: There are no entry or exit loads when investing in ETFs, making the investment process cost-efficient.
Better control and transparency: Since ETFs are listed on the stock exchange, investors are better informed about their holdings and market movements.
ETFs vs other Investment options: Which is better and when?
Exchange Traded Funds (ETFs) are often compared with mutual funds or other investment options. But each option has its own strengths and limitations. The table below gives a quick overview of their key features:
Feature/Aspect
ETFs
Mutual Funds
Fixed Deposits
Trading Flexibility
Trades like stocks throughout the day
Transact at end of day at NAV only
Lock-in and invested for a Fixed Period
Cost / Fees
Very low expense ratio
Relatively higher fees
No fund management charges
Transparency
Investors have a better idea of where their money has been invested as holdings information is published daily.
Holdings are published quarterly, which makes them less transparent.
Limited information is available as the bank lends your deposited amount.
Liquidity
High – can be bought/sold at any time
Moderate – redemption takes time
Low – Early withdrawal penalty
Market Exposure
Diversified index, sector, commodities, etc.
Based on the investment strategy mentioned in the fund documents
No direct link to the market
Considerations Before Investing in ETFs
Although ETFs have many benefits, it is important to understand a few key points before investing.
Effect of market volatility: ETFs are directly linked to the stock market, so their prices can also go down rapidly when the market falls.
Possibility of tracking error: Sometimes the return of an ETF does not match the index it is following. This is called tracking error.
Understand the investment strategy: Before investing, it is important to know in which assets or sectors the ETF is investing.
Research and clarity are important: Before investing in an ETF, conduct your own research to select the best fund for your portfolio.
How to Invest in ETFs Step-by-Step with Pocketful?
You can easily invest in ETFs with Pocketful by following the steps mentioned below:
ETFs are an easy, flexible and affordable option for investment. They are traded in the stock market, allowing real-time buying and selling. ETFs have low cost and offer transparency and diversification, which helps in reducing risk. For any investor, whether new or experienced, adding ETFs to their portfolio can be a wise move. For a better decision, one should include ETFs in their investment portfolio after consulting an expert or doing thorough research on their own.
S.NO.
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In the world of financial markets, there are various investment options available. If an investor is looking to diversify their portfolio and has a limited amount of capital, they can consider investing in ETFs or Exchange Traded Funds. They are passively managed funds offered by various AMCs. But do you know which ETFs have been top performers in recent years?
In this blog, we will give you an overview of the top 10 ETFs in India, along with the factors to consider before investing in them.
What is an ETF?
An ETF or Exchange Traded Fund is a passive investment tool that predominantly invests the capital in a basket of stocks, commodities, etc. ETFs are generally traded on the stock exchange like any other ordinary stock; therefore, to buy and sell ETFs, you are required to have a demat and trading account.
List of Best ETFs in India
The following are the best ETF to invest in 2025:
ETF Name
Symbol
5-Year Return
Kotak NV 20 ETF
KOTAKNV20
203.26%
Kotak Nifty Bank ETF
BANKNIFTY1
196.54%
SBI NIFTY NEXT 50 ETF
SETFNN50
186.79%
Nippon India ETF Junior BeES
JUNIORBEES
184.70%
Bandhan NIFTY ETF
IDFNIFTYET
181.53%
Quantum Nifty ETF
QNIFTY
180%
Motilal Oswal M50 ETF
MOM50
175.04%
Invesco India NIFTY ETF
IVZINNIFTY
171.90%
SBI NIFTY 50 ETF
SETFNIF50
167.28%
Invesco India Gold ETF
IVZINGOLD
95.16%
(Data as of 15th May 2025)
Overview of the Best ETFs in India
An overview of the top ETFs in India is as follows:
1. Kotak NV 20 ETF
This ETF invests in Nifty 50 Value 20 index stocks. These stocks represent companies with strong fundamentals and attractive valuations. It primarily tracks share prices of 20 companies with low PE, low PB and high dividend yield. It is managed by Kotak AMC.
2. Kotak Nifty Bank ETF
This ETF, launched by Kotak Mutual Fund, tracks the Bank Nifty index and provides investors with an exposure to the top 12 banking stocks. Investors who wish to make a tactical allocation in the banking industry can opt to invest in Kotak Nifty Bank ETF.
3. SBI Nifty Next 50 ETF
The SBI Nifty Next 50 ETF was launched by SBI Mutual Fund and tracks the Nifty Next 50 Index. It is also a good investment option for investors who want to participate in the growth of the next 50 companies.
4. Nippon India ETF Junior BeES
This ETF primarily invests in the Nifty Next 50 Index, or the next 50 companies after Nifty 50 companies by market capitalisation. The stocks in which this ETF invests belong to the large and mid-cap segments. They are managed and operated by Nippon AMC and are suitable for investors seeking growth.
5. Bandhan Nifty ETF
The Bandhan Nifty ETF also invests in Nifty 50 stocks. Earlier, it was launched by IDFC mutual fund, which was later taken over by Bandhan AMC. Therefore it is known as Bandhan Nifty ETF.
6. Quantum Nifty ETF
This ETF, launched by Quantum AMC, tracks the Nifty 50 Index and offers similar exposure to large-cap stocks of India as specified by the Nifty 50 index. It is another ETF that invests in the Nifty 50 index that has generated substantial returns in the recent past.
7. Motilal Oswal M50 ETF
For investors who wish to invest in the Nifty 50 index ETF, Motilal Oswal M50 is another option as it offers exposure to the top 50 companies of India. This ETF has also given tremendous returns over the past 5 years.
8. Invesco India Nifty ETF
This ETF is managed by Invesco India Asset Management Company. It primarily invests in the top 50 companies listed on the National Stock Exchange based on market capitalisation. Those 50 companies have exhibited strong performance over many years.
9. SBI Nifty 50 ETF
As the name indicates SBI Nifty 50 ETF tracks the Nifty 50 Index and is managed by SBI. It is highly liquid in nature and is often used as an investment option by EPFO and other institutional investors.
10. Invesco India Gold ETF:
This ETF tracks the domestic price of Gold and allows the investor exposure to Gold digitally. It is also known as commodity ETF, and can be used as a hedge against inflation and currency fluctuations.
The key factors which an investor should consider before investing in an ETF are as follows:
Expense Ratio: The expense ratio plays a major role when choosing an ETF for investment; the lower the expense ratio, the higher the returns.
Tracking Error: A tracking error defines the difference between the performance of an ETF and the index which it replicates; the lower the tracking error, the better the returns.
Liquidity and AUM: Check the trading volume and the assets under management (AUM) of the ETF. A high trading volume and larger AUM generally indicate better liquidity, which makes it easier to buy and sell an ETF.
Underlying Asset: There are various ETFs available in the market tracking the different indices; therefore an investor should choose the ETF based on their investment objective.
Past Performance: This is one of the key factors to be considered before choosing an ETF for investment. ETFs which have posted consistently higher returns with low tracking errors should be considered for investment.
The amount to be invested in the ETF depends on various factors such as your existing financial conditions, debt level, your investment objective, and your risk tolerance. If you are an aggressive investor and want to invest in a specific sector for a higher return, then you can opt for sectoral ETFs. However, if you are a conservative investor, then you can opt for investing in equity-oriented ETFs, which primarily invest in the top 50 or 100 companies. Alternatively, if you are looking to diversify your portfolio and wish to invest in Gold and other commodities, then you can invest in commodity ETFs.
On a concluding note, there are various categories of ETFs available in India, and if someone is looking to invest passively, ETFs are a good option. However, ETFs generally have a slight tracking error, due to which their returns are approximately similar to that of the indices they follow. Hence, an investor must compare the tracking error of the ETFs investing in the same underlying asset to select the best ETF among them before investing. Among the various ETFs available in India, one must consider the ETF which suits their risk profile and always invest in an ETF after consulting with their investment advisor.
ETFs are passively managed funds as they replicate the index that they follow.
What is the minimum amount one can invest in an ETF?
The minimum amount that an investor can invest depends on the price of the ETF; there are various ETF prices which start from as low as ₹50.
Which type of tax applies to ETFs?
Capital Gain Tax is applicable on ETFs, depending on whether it is an equity, debt or gold ETF.
How can I buy an ETF in India?
To purchase an ETF in India, one must have a trading and demat account with a broker. If you have one, you can buy it like any other stock.
What are the risks associated with investing in ETFs?
ETFs generally carry lower risk than other asset classes. However, there are tracking errors, due to which the returns of ETFs can be lower than the index they follow.
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