MAM
Ad tech company Vertoz appoints Sanjay Dubey
MUMBAI: Vertoz, an ad tech company, has announced the appointment of Sanjay Dubey as its senior sales director India. Besides his role of sales and blending business, Dubey will help the company in managing and scaling operations internationally and help develop the brand and product with global technology to Indian operations.
Among the key areas where Dubey would be actively involved is setting up of the MSME segment business in India.
“We are proud to have someone on board of Sanjay’s caliber, expertise and perspective joining us. His pan India experience, deep knowledge over building and launching of products, and the unique blend of technological and management skills will strengthen our services and offerings and help to fill void in the Indian market,” said Vertoz founder and CEO Ashish Shah.
Dubey joins Vertoz from Vubites – Rediff.com where he was director of sales. Prior to Rediff, he was with Network 18 where he held the role of deputy general manager. In the past, he has also worked with Infomedia India as its national product manager. He is an alumnus of the IIM Calcutta and a B.Sc. graduate from the University of Mumbai.
Vertoz, which has global presence and clients spread across the world, believes that Dubey’s over 20 years of experience in multi-platform brand marketing and business development would further accelerate the growth and momentum of the company.
“Vertoz possesses all the potential and abilities to spread concept of programmatic advertising aggressively globally as well as in India. Vertoz’s programmatic plex provides the perfect platform and integrated offering to support clients looking to connect with potential and existing customers digitally in India and worldwide,” added Dubey.
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.
