MAM
Abhinay Singh’s Adgcraft welcomes Hassan Faridi as account director
MUMBAI: In a world where communication shapes destinies and drives success, Adgcraft is turning the spotlight on innovation and leadership with a stellar appointment.
With the dynamic energy of reinvention coursing through its veins, one of India’s most trusted PR agencies has announced the 10 year veteran in the industry – Hassan Faridi as its new account director. This landmark addition comes as a resounding affirmation of Adgcraft’s unwavering commitment to crafting strategic and impactful communication solutions. With over a decade of cross-industry expertise, Faridi’s entry heralds a new era of creative brilliance and strategic precision, poised to elevate the agency to unparalleled heights.
As account director, Faridi will take charge of key client accounts, spearheading strategic communication plans and overseeing seamless execution of PR campaigns. His role will also include mentoring team members and maintaining robust client relationships. Drawing on his extensive experience, he aims to enhance client satisfaction, expand Adgcraft’s portfolio, and align communication strategies with measurable business outcomes.
Adgcraft, founder & MD, Abhinay Kumar Singh shared his enthusiasm for the appointment, “We are delighted to welcome Hassan Faridi to the Adgcraft family. His extensive experience, strategic acumen, and passion for communication align perfectly with our vision to deliver exceptional results for our clients. Faridi’s leadership will undoubtedly strengthen our team and elevate our service offerings.”
Faridi expressed his excitement about joining Adgcraft, stating, “Joining Adgcraft represents an exciting chapter in my professional journey. The agency’s commitment to delivering meaningful and impactful communication solutions resonates deeply with my approach to public relations. I look forward to collaborating with the talented team here to craft strategies that address client needs while pushing boundaries in how PR drives value for businesses. My goal is to contribute to the agency’s continued growth by delivering consistent, high-quality results for our clients.”
Faridi brings a wealth of expertise in managing high-impact PR campaigns, nurturing client relationships, and driving strategic initiatives across industries such as Corporate, Technology, Automobile, Finance, FMCG, Retail, CSR, Hospitality, Startups, Education, and Health. His strong team management skills and innovative approach make him a valuable asset in steering Adgcraft towards greater success.
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
