MAM
Anheuser-Busch InBev and The Quint join hands to raise awareness about illicit alcohol consumption in India
MUMBAI: With an aim to create awareness on the perils of illicit liquor, The Quint and the world’s leading brewer Anheuser-Busch InBev (AB InBev) came together to organise an event called #DontPegOnPoison on September 19. The initiative was graced by prominent personalities and speakers, including Mr Amitabh Kant, CEO, Niti Aayog and Shree Ram Vilas Paswan, honourable Cabinet Minister, Consumer Affairs, Food and Public Distribution.
India is one of the fastest growing alcohol markets in the world. What’s astonishing is that almost 40 per cent of the alcoholic-beverage consumption in the country is unrecorded. Deaths from cheap, illegally distilled liquor are not uncommon in India. National Crime Records Bureau statistics show that on an average, hooch kills nearly 1,000 people every year. India has been a witness to many such hooch tragedies, the most recent ones being in Uttar Pradesh, Uttarakhand, and Assam.
Through expert discussions and panels, ‘Don’t Peg On Poison’ aimed to drive awareness on the growing spate of illicit-alcohol related deaths and tragedies, through insights from stakeholders, policy makers, as well as the activists on ground.
Speaking on the partnership, Ms Ritu Kapur, Co-founder and CEO, The Quint said: At The Quint, we believe in deep diving into issues of public interest; and, the malaise of illicit liquor and its impact on society’s most marginalized is something we have followed closely. Partnering with AB inBev on this event allowed us to create a dialogue between policy makers and stakeholders, as well as activists and families who are fighting the repercussions of illicit liquor on the ground. Events like these help us seek collective solutions on the issue and its many challenges – including taxation, law enforcement, and the pros and cons of prohibition. We look forward to partnering on many such initiatives in the future.
Commenting on the need for collective action to tackle illicit liquor,Mr Ben Verhaert, President – South Asia, AB InBev, said,“Illicit alcohol is a serious menace that continues to rise owing to factors like lack of awareness, high costs associated with legitimate alcohol, taxation structures and prohibition that leads to proliferation of underground alcohol markets. It has worrying consequences, including health risks as witnessed by the series of deaths in Assam, Uttar Pradesh and Uttarakhand earlier this year. As per various studies, unrecorded alcohol comprises between 40% and 70% of all consumed alcohol. At AB InBev, we are committed to promoting smart drinking and reducing harmful use of alcohol.
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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.
