MAM
22nd Convergence India 2014 expo ends today
MUMBAI: Convergence India 2014 expo, South Asia’s largest ICT, media, entertainment and applications industry expo, was inaugurated by Hon’ble Member of Parliament and Former Union Minister, Shri Syed Shahnawaz Hussain at Pragati Maidan, New Delhi. Speaking on the occasion, Shri Syed Shahnawaz Hussain had said, “I am pleased to be present at this important platform that recognizes the potential of the evolving telecommunications, media and entertainment industry and its contribution in boosting the economy, and overall growth of the nation”.
Following this, Dr. Rahul Khullar, Chairman, TRAI set the agenda for the three day expo by opening the floor for dialogue on “Connecting India”, the theme for the 22nd edition of Convergence India 2014. The inaugural ceremony also saw industry leaders such as N Ravi Shankar (Special Secretary & Administrator, USOF, DoT), Anupam Shrivastava ( Director (CM) & CMD (Designate), BSNL), Umang Das, Chief Mentor, Viom Networks Ltd., Rajan S Mathews, ( Director General, Cellular Operators Association of India ), Pankaj Mohindroo (National President, Indian Cellular Association) and Rajiv Bawa (Country Head, Telenor).
The 1stTelecom summit 2014 on “Home Grown Technologies and Skills’ was inaugurated on the day 2 of the 22nd Convergence India, 2014 expo. The summit was jointly organized by Telecom Centers of Excellence (TCOE), Telecom Sector Skill Council (TSSC)and Exhibitions India Group and was supported by Government of India (DoT &DeitY), service providers, manufacturers, training partners, industry associations and academia.
The day 3 of 22nd Convergence India 2014 witnessed the first of its kind Afro-Asian Media Summit which was chaired by Mr. Phil Molefe, Vetran South African Broadcaster. In his address, he said, “Geographical boundaries have fallen away and we are now one big media community driven by the power of technology. We have to be committed, skilled and innovative to capitalize the abounding opportunities”.
This dynamic initiative will create opportunities of partnerships, investments, support and many more collaborations. With this platform in place, there can be an exchange of ideas, expertise between the two nations.
Mr. Albertus Aochamub, President SABA, said, “This is a partnership of equals. Both India and Africa have common history, struggles and challenges. India is a hub of skilled personnel and with the help of media, technology and other ICT tools, both the countries can learn from each other.”
Mr. Rahul Nehra, Co-Founder Afro Asia-Media Summit, announced the launch of Afro-Asian Media Awards 2015. He said, “We are taking the first step in driving excellence through the awards. We need to felicitate people of our own continents for the work they do”.
H.E. Dr. Perks Ligoya, High Commissioner of Malawi, said “I feel honored to be in the First Afro-Asian Media Summit. This event comes at a very good time”. He also commented on how through e-learning, e-health, e-money, e-commerce, Africa and India can benefit from each other.
In addition, 22nd Convergence India 2014 also witnessed a seminar on FTTH Council Asia-Pacific, also strategic partner of Convergence India this year. The theme for the seminar was ‘Fiber for Convergence’ and offered great opportunities to the participants to network & collaborate while providing consistent information on FTTH from industry experts.
Some of the prominent speakers were N Ravi Shankar, CMD, Special Secretary & Administrator, USOF, DoT, Anil Pande, Director, Dura-Line, Anuj Jain, PWC and Vipin Tyagi, C-DOT.
Prem Behl, Chairman, Exhibitions India Group said, “With this 22nd Convergence India 2014, the roadmap for telecom, media and entertainment industry has been outlined and we will continue to contribute towards the changes and development of these sectors as the journey continues.”
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.
