MAM
Coto appointed Shefali Anurag as VP of the marketing
Mumbai: coto, the social community platform, by women, for women has appointed Shefali Anurag as vice president of marketing. Shefali will lead and execute the marketing strategy for the organisation. coto to accelerate the platform ‘enhancement its presence in the dynamic landscape of technology, information, and the internet.
As a seasoned expert she has good experience in digital marketing, social networking, and global relations verticals. Shefali’s industry experience will be significant in strengthening the brand’s positioning as a niche platform for women, offering them opportunities for growth, connection, and empowerment in the digital world.
She has worked predominantly in the tech, e-commerce, and fashion space, and spearheaded transformative marketing initiatives before. With a wealth of experience in some of the innovative tech companies including Amazon, Twitter (Zipdial), Booking.com (Agoda), and Pomelo Fashion, Shefali has managed multiple media launches, announcing funding rounds, acquisitions, product launches, and KOL campaigns across six Asian markets – India, Bangkok, Vietnam, Thailand, Philippines, and Singapore.
Welcoming Shefali to the team, coto co-founder Aparna Acharekar said, “We’re delighted to have Shefali lead the marketing team at coto. Her rewarding industry experience and strategic vision speak volumes about her knowledge, expertise, and leadership. We’re confident that Shefali’s acumen in the digital world will help the platform build a safe and secure online environment for women.”
Speaking about her new role to the media Shefali Anurag said, “Today, women make up 49.6 per cent of the world’s population; we are finally at the point where we can be equals and take the lead on the global scale. However, given how much time we spend in the digital space, we must stay ahead of the Web3 curve to thrive – coto serves as the perfect medium for this. coto’s team, its vision, and goals inspire me greatly and I’m looking forward to an incredible journey together.”
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.
