MAM
Airbnb appoints Amanpreet Bajaj as GM for India, SEA, HK and Taiwan
NEW DELHI: Airbnb has announced the appointment of Amanpreet Bajaj as general manager for India, southeast Asia, Hong Kong and Taiwan.
Bajaj brings a wealth of experience from playing a key role in the growth of Airbnb in India as country manager since 2015. In his expanded role overseeing southeast Asia, Hong Kong and Taiwan along with India, Amanpreet will be responsible for driving Airbnb’s strategy and long-term growth in some of Airbnb’s fastest-growing destinations in Asia-Pacific, which have grown on average almost 40 per cent YoY as of 2019.
A business leader and web entrepreneur with a proven track record of building and scaling teams, Amanpreet brings with him years of rich experience in the digital space. Before joining Airbnb, he co-founded Letsbuy.com in 2010, which was acquired by Flipkart.com in 2012.
“After a truly enriching five years at Airbnb, I am thrilled to take on an expanded challenge to ensure the long-term growth of Southeast Asia, Hong Kong and Taiwan — some of the world’s most popular travel destinations,” said Bajaj. “I am looking forward to applying my learnings and experience to further engage and grow our communities of hosts and guests across this region, working hand in hand towards tourism’s much-needed recovery.”
Bajaj assumes this new role as Mike Orgill, the former general manager for southeast Asia, Hong Kong and Taiwan, returns to his former role as Airbnb’s regional policy director for Asia-Pacific. He will start his new role immediately and continue to report to Kum Hong Siew, Airbnb’s regional director for Asia-Pacific and chief operating officer of Airbnb China.
“We are delighted to have Amanpreet take on an expanded role to lead Southeast Asia, Hong Kong and Taiwan in addition to managing operations for India,” said Hong Siew. “Amanpreet has been instrumental in driving the growth of India as a key geography for Airbnb, and we are looking forward to partnering with him in this new chapter of his career, helping this region reach new heights.
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.
