MAM
AnyMind Group names Siddharth Kelkar & Aditya Aima to lead India & MENA
Mumbai: AnyMind Group has announced that MD of performance business – Siddharth Kelkar, and MD of growth markets – Aditya Aima, will take on additional roles as co-managing directors for India and MENA.
They will take over from Rubeena Singh, who leaves on 15 October 2024. Kelkar and Aima, who joined AnyMind through the acquisition of POKKT in 2020 after serving seven and five years at POKKT, will now co-lead operations, driving business expansion, strategic partnerships, and growth in these regions.
On the appointments, AnyMind Group CEO and co-founder Kosuke Sogo said, “Both Siddharth and Aditya have proven themselves to be strong leaders in their respective fields, and are always thirsty for new growth, directly reflecting a trait that runs through our management team. We are confident that with their leadership, we are able to help even more businesses become borderless in what is a vast region that possesses great potential.”
Siddharth Kelkar has been a part of the media industry for over 20 years and has worked across digital, print and broadcasting mediums. Before joining AnyMind Group and POKKT, Kelkar held leadership roles in SVG Media, Ozone Media and Reliance Games (Zapak). He has also worked with The Times Group, Hindustan Times and CNBC TV18.
On his appointment, Kelkar said, “I’m excited to take on this expanded responsibility at a time when both India and the MENA regions are at the cusp of transformative growth in digital, marketing, and e-commerce landscapes. Leveraging AnyMind’s cutting-edge solutions, we aim to drive innovation, empower businesses, and build deeper partnerships that will fuel long-term success for our clients across these key markets. I look forward to working with Aditya and the wider team at AnyMind to further scale our presence and impact.”
Aditya Aima has over two decades of experience, including the ad tech, broadcast and publishing industries. Before joining AnyMind Group and POKKT, Aima held leadership positions in Culture Machine Media, Astro Malaysia, Bloomberg TV and Turner Broadcasting System.
During his appointment, Aima said, “It’s an honor to co-lead the India and MENA regions, which present immense opportunities for growth. With the rapid digital transformation happening across both markets, we are uniquely positioned to help businesses unlock their full potential using AnyMind’s integrated platform for marketing, e-commerce, and digital transformation. Together with Siddharth, we are committed to driving strategic initiatives that will not only support our clients but also solidify AnyMind’s leadership in these dynamic markets.”
AnyMind Group entered the Indian market in 2020 by acquiring mobile advertising platform POKKT, which operates across India, Southeast Asia, and the Middle East. POKKT is integrated with international app publishers and offers video and rich media ad solutions. AnyMind Group’s technology and operations focus on two areas: brand commerce (e-commerce, marketing, logistics, production, and conversational commerce) and partner growth (solutions for creators and publishers).
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.
