MAM
Nestlé Munch launches IPL campaign
MUMBAI: One of India’s largest coated wafer brands, Nestlé Munch, strives to participate in the passion consumers have for music, movies and cricket by integrating it to the core of its communication.
In 2016, it was the Munch Macha campaign with Shruti Haasan as the brand ambassador along with the famous musical trio of Shankar, Ehsaan and Loy, followed by the mega thematic campaign with Baahubali 2 in 2017. This year, the brand is carrying out another category first by joining hands with three of the most popular T20 franchises–Mumbai Indians, Kolkata Knight Riders and Royal Challengers Bangalore–as the official crunch partner for IPL 2018.
To ‘crunch’ the T20 season, Nestlé Munch is launching a special campaign–Munch MyT20. Recognising the desire for today’s teens to express themselves and standout, the brand is giving out ‘attitude bands’ free with its Rs 10 packs. The attitude bands, designed in-house, are fashion accessories for both cricket and non-cricket enthusiasts. Available in seven designs, each band personifies a unique attitude and attempts to create a cool new lingo for teens to express themselves.
The Munch MyT20 TV commercial features Priya Prakash Varrier as the protagonist who gets “free ka attitude” with the MyT20 attitude bands.
Continuing with the trend of category-first initiatives, Nestlé Munch will be introducing a special Orange Spinner flavour variant celebrating India’s love for cricket. Priced at Rs 10, the new Munch Orange Spinner will hit the shelves in the middle of April pan-India.
Moreover, Munch is also launching a special Munch MyT20 MACHA box.
In a nation where music, movies and cricket lie in the hearts of millions, Nestlé Munch’s MyT20 campaign will ensure it continues to be loved as an exciting brand across the country.
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.
