Brands
Amritraj Kaur takes the helm as Carrefour India marketing head
MUMBAI: Carrefour India has welcomed Amritraj Kaur as its new head of marketing, signalling an exciting new chapter for the retail giant. Kaur brings a wealth of experience across some of India’s most prominent retail and FMCG brands, promising a fresh wave of creativity and customer-focused strategies.
“I’m thrilled to begin this journey with Carrefour India, a brand with strong global roots and a clear promise to its customers,” Kaur said. “I look forward to building, learning, and delivering impact together.”
Kaur joins Carrefour after leading marketing and CRM at Lots Wholesale Solutions, where she drove 6–7 per cent year-on-year growth in customer transactions and launched the company’s first two-tiered loyalty programme. She has also held senior marketing roles at BnC Foods, Flipkart Wholesale, Walmart, Future Group, Amira Foods, and Spencer’s Retail, making her a seasoned strategist in omni-channel growth, digital campaigns, and customer experience.
From pioneering innovative loyalty schemes to orchestrating large-format store launches and influencer-driven campaigns, Kaur’s career is a testament to blending creativity with measurable results. At Carrefour India, she is set to shape marketing initiatives that not only elevate the brand but also deepen engagement with its customers across the country.
Her appointment reflects Carrefour’s ongoing focus on strengthening its presence in India’s competitive retail market, promising a blend of international expertise and local insight under Kaur’s stewardship.
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.
