Digital
BC Web Wise bags the digital duties for Gatsby
Mumbai: Gardenia Cosmotrade men’s grooming brand Gatsby onboarded BC Web Wise for the digital duties. The agency will drive the brand’s positioning and awareness for its entire range of products and help capture a greater share in the men’s grooming space.
Japanese company Mandom Corp., which owns Gatsby, has owned the brand since its establishment in 1927. Since then, it has evolved with the times and trends to become a total grooming brand with products in various categories including hair styling, face care, body care, beard grooming, and fragrance. Through its product line targeted at young Indian men, the company is currently looking at reinforcing and expanding its presence in India.
Gardenia Cosmotrade designated partner Puneet Motiani said, “The male grooming market in India is at an inflection point, the youth today is globally aware and demands products that are world class, to which they add their own style of expression. Gatsby, born in Japan and consumed across the world, provides one of the best quality and range of products in the male grooming category. We’ve got a variety of exciting new launches of styling and skincare products coming up. And I am certain that the audience is going to love them. We’re looking forward to this creative partnership with BC Web Wise to position the brand ‘Gatsby’ as their preferred choice.”
Gardenia Board brand & marketing expert and advisor Pankaj Bhawnani said, “Chaaya is transforming BC Web Wise with a fresh talent pool and brings to the table a unique blend of creative, social, performance and ecommerce capabilities, making them the right partner for the growing ambitions of Gardenia Cosmotrade.”
Speaking on the appointment, BC Web Wise founder & MD Chaaya Baradhwaaj added, “Gatsby is an exciting brand that continuously innovates driven by data. It aligns seamlessly with the BC Web Wise DNA and we are excited to partner in the growth story of the brand with creative and impactful digital marketing solutions.”
Digital
RBI proposes Rs 25,000 compensation cap for small digital fraud losses
RBI, customer bank and beneficiary bank will share payouts
NATIONAL: The Reserve Bank of India has proposed a new compensation framework for small-value fraudulent electronic banking transactions, requiring the central bank, the customer’s bank and the beneficiary’s bank to share payouts to affected customers.
Under draft rules released on Friday, compensation will be capped at the lower of 85 per cent of the net loss amount or Rs 25,000 in cases where the gross loss from a fraudulent electronic transaction is up to Rs 50,000.
The proposal comes as regulators step up efforts to strengthen customer protection amid a rise in digital banking frauds.
RBI governor Sanjay Malhotra had indicated during last month’s monetary policy announcement that the central bank planned to introduce a compensation framework for small-value digital frauds, allowing affected customers to claim relief once during their lifetime.
According to the draft guidelines, when the loss is below Rs 29,412, compensation of 85 per cent of the loss will be paid. Of this amount, 65 per cent will be borne by the RBI, while the customer’s bank and the beneficiary bank will contribute 10 per cent each.
For losses of Rs 29,412 or more but up to Rs 50,000, the compensation will be capped at Rs 25,000. In such cases, the RBI will contribute Rs 19,118, while the customer’s bank and the beneficiary bank will each contribute Rs 2,941.
If funds are later recovered after compensation has been paid, the customer’s bank must recalculate the payout based on the revised net loss and adjust the recovered amount accordingly.
Customers will be eligible for compensation only if they report the fraudulent transaction within five calendar days of its occurrence.
Complaints must be lodged both with the bank and through the National Cyber Crime reporting portal or the National Cyber Crime helpline. Banks must also confirm that the loss is bona fide under their internal processes.
Once a complaint is received, banks must compensate the customer within five calendar days, the draft rules state.
In joint accounts, only one account holder may submit a compensation claim.
The central bank has also proposed tightening transaction alerts by mandating instant SMS notifications for all electronic banking transactions above Rs 500. For transactions of up to Rs 500, banks may decide whether to send alerts based on internal policies.
Banks will not be allowed to charge customers for SMS messages sent to meet regulatory requirements or those used for promotional, marketing or customer awareness purposes.
The draft framework also calls for stronger oversight by requiring banks to periodically report complaints related to fraudulent electronic transactions to their boards or board-level committees. These reports must detail the number and value of cases across categories including card-present transactions, card-not-present transactions, internet banking, mobile banking and ATM transactions.
The RBI has invited public comments on the draft guidelines until 6 April, 2026. The rules are expected to take effect on 1 July, 2026 once finalised.
Banking officials say the proposed sharing of compensation between the RBI, the customer’s bank and the beneficiary bank is intended to increase vigilance across the digital payments ecosystem.
