MAM
Aaj Tak rolls out anniversary contest for viewers
MUMBAI: On 31 December, Aaj Tak turns four and the news channel has rolled out an anniversary contest for its viewers. The contest started on 20 December and will run till 30 December. Two days into the contest and it has already received an overwhelming response from viewers.
The objective is to use the occasion of Aaj Tak’s anniversary and the New Year to involve viewers in an exciting contest, which compliments this season of celebration and splendour.
The prize being offered in the contest is an exclusive diamond set worth Rs 1.1 million, which can be won by one winner. The contest is based on the reverse auction format, wherein the lowest unique bid is the winning entry.
To participate in this contest, a viewer needs to SMS ‘BID’ followed by their amount to 2424. The winner will be announced on 31 December on Aaj Tak.
Interestingly, Aaj Tak has had a successful legacy in pioneering SMS based interactivity in the television space and had recently received a citation in the Limca Book of Records for a record breaking number of SMS responses from its viewers.
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.
