MAM
Banking sector spends Rs 20 bn on outdoor advertising
MUMBAI: The banking sector spends Rs 20 billion on outdoor advertising medium and it is more effective than television but less than print, according to ICICI Bank corporate brand group head Ronita Mitra.
Lack of measurability in the outdoor advertising medium, however, is one of the most contentious challenges the sector currently faces, Mitra said.
While speaking at the seventh edition of Outdoor Advertising Convention, Mitra said that hindrances such as changing traffic trends, delivery scale versus credibility and complexity with the spread of commercials hamper the scope of measurability.
Mitra underlined, “Having to send out teams to analyse the ads is another impediment.”
Talking about drawbacks, there are several high-points in this medium as well.
“We communicate with all the socio-economic groups and our target audience is male, aged between 25-55 years. The outdoor message delivers undiluted and localised messages, in terms of look and feel. Moreover, messages are clear and call to action or how to get in touch becomes simpler with this medium,” Mitra stated.
While public sector banks use this medium the most, multinational banks adapt a much focused geographic approach. “In most cases outdoor media is used to reinforce a multimedia campaign – in some cases, to create an impact on city or national scale; and in very few cases as a standalone medium,” Mitra revealed.
Talking about various forms of outdoor advertisement, Mitra cited the example of ICICI’s ‘khayaal aapka’ campaign, which she termed as thematic propositions, under which various new products were promoted.“‘khayaal aapka’ is the master brand, within which there can be various individual product brands such as privilege banking and home loans.” Mitra noted.
Mitra spoke about the ‘three creative’ the bank experimented with: bill transfer, fund transfer and book movie tickets. “We put up ads of bill payment and fund transfers on bus shelters, while booking movie tickets was promoted next to ticket counters at various cinema halls. And after analysing the pre- and post-activity results, we found that the awareness about the three features has gone up by 50 per cent.”
This activity not only created awareness but also reinforced an image of innovation for the bank, Mitra concluded.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
