MAM
CABSAT gains from growth in regional tech & media industry
MUMBAI: Spurred by the development of the regional technology and media industry in the region, the 10th edition of the Middle East International Cable, Satellite, Broadcast and Communications Exhibition (CABSAT) has registered a 27 per cent growth in the number of international exhibitors participating at the event according to organisers Dubai World Trade Centre (DWTC).
DWTC general manager exhibitions, leasing and operations, Abdulla T Qassem said, “We are pleased with the keen interest in CABSAT from the international industry which has been powered by the range of new business opportunities in the broadcast, communications and media technology fields specifically in the fields of new satellites, VSAT, digital compression and the sustained and healthy competition among pay TV and free-to-air channels that has opened up a plethora of new business avenues in the region.”
Qassem noted that a number of exhibitors from outside the UAE representing a total of 27 countries including Belgium (3), Canada (1), China (33), Cyprus (2), Czech Republic (1), Denmark (1), Egypt (1), Finland (1), France (10), Germany (33), Holland (3), Hong Kong (3), India (2), Iran (1), Italy (2), Korea (7), Lebanon (1), Malta (1), Saudi Arabia (2), Singapore (1), South Africa (1), Spain (5), Switzerland (1), Taiwan (8), Turkey (3), United Kingdom (38) and USA (4) have confirmed participation at CABSAT ’04.
Prominent among the big name exhibitors participating at the event from the different segments include Pinnacle, Seachange, Panasonic, Leitch and BT Broadcast from the broadcast and production sectors; Intelsat, Eutelsat, New Skies, Iris Sat, and Globecast from the communications sector; and Vestel, Triax, Aston, Kaon and Horizon Satellite from the cable and satellite sectors.
The latest trends and technologies fuelling growth of the cable, satellite, broadcast and communications industry will be under the spotlight complementing the main exhibition with a range of industry specific presentations including one organised by Luxsat titled ‘Video On Demand’ that marks the regional launch of Luxstation.
CABSAT is the pre-eminent show in the region for companies seeking to gain a firm footing in the region’s fast emerging cable satellite and communications sectors which forms the core profile of the event.
CABSAT in the past editions has provided participants with a unique networking opportunity to touch base with trade professionals and forge new links with organisations that can help further the corporate goals of suppliers who specialise in cable, satellite, communications and broadcast equipment and services.
Last year’s edition of the event witnessed deals, launches and business galore proving to be an impressive event drawing more than 200 exhibitors and over 4,500 trade visitors from around the globe and particularly from the GCC countries.
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.
