Brands
Amway India onboards Mirabai Chanu as brand ambassador
Mumbai: FMCG major Amway India, through Emmanuel Global Consultancies, has partnered with Olympian Saikhom Mirabai Chanu as the brand ambassador to promote Amway and its Nutrilite range of products.
Chanu will spearhead brand campaigns focused on its foundation range such as Nutrilite Daily, Omega and All Plant Protein amongst others, across platforms. The association with the Olympic medalist is in line with Amway’s focus on consolidating its health and nutrition category, especially targeting women and youth in the country, the company said in a statement.
Amway India CEO Anshu Budhraja said, “Amway and Nutrilite symbolise the best of entrepreneurship, opportunity, women empowerment, nutrition, and wellness globally. Our association with Mirabai Chanu is a natural choice. She exemplifies our values of hope, commitment, self-empowerment, healthy living; and her commitment to fitness is unparalleled. This makes her the perfect partner to further amplify our ethos of helping people live better, healthier lives.”
“Our association with Ms Chanu is also a tribute to our incredible women leaders who have been leading from the front and re-imagining the future, for themselves, for their families, and ultimately for the society at large. Comprising over 60 per cent of direct sellers, women and youth are at the heart of this incredible organisation and are the enablers in helping us drive the commitment towards entrepreneurship to empower the women and our women,” he added.
Amway India chief marketing officer Ajay Khanna commented, “As the nation prepares to build their health and strengthen their immunity, we are delighted to welcome Mirabai Chanu to the Nutrilite family. Her unmatched dedication to fitness and youth appeal resonates well with Nutrilite’s world-class image offering the best of nature and the best of science for optimal health.”
Speaking about the brand association, Mirabai Chanu said, “Nutrilite is an iconic brand, recognised globally for its plant-based approach to dietary supplements. As a professional athlete, I am always looking for ways to improve my fitness and thereby, my game. Hence, proper nutrition through a balanced diet is extremely important for me. I am excited to join hands with Nutrilite –which is the world’s top vitamins and dietary supplements brand, committed to making people’s lives healthier.”
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.
