MAM
DBS Bank India is banking on India’s badminton stars!
Mumbai: In a move that underscores DBS Bank India’s commitment to the country, the bank has announced its partnership with five exceptional badminton stars – Lakshya Sen, Satwiksairaj Rankireddy, Chirag Shetty, Treesa Jolly, and Gayatri Gopichand.
DBS Bank has been a part of India’s journey since 1994, and it is the largest foreign bank in the country by branch presence. The partnership enables the bank to enhance its brand presence within the country and effectively connect with its diverse audience. The sport of badminton embodies attributes such as precision, dedication, teamwork, and the pursuit of excellence, closely aligned with DBS Bank’s core values of being purpose-driven, relationship-led, and innovative.
The partnership has kicked off with an outdoor campaign, and it will be extended to the bank’s social media platforms, official website, and internal platforms, as well as throughout its branch network, targeting both customers and employees.
DBS Bank India managing director – group strategic marketing & communications Shoma Narayanan said, “DBS Bank continues to break boundaries and reimagine banking; we like to think of ourselves as a different kind of bank, rather than fitting into the conventional notions of a ‘traditional bank’. Badminton is gaining popularity across India, and this partnership provides a great opportunity for us to extend our support to five young athletes who truly have the potential to be the stars of tomorrow!
These players epitomise our core values both on and off the court, making them perfect partners to champion our brand. With this association, we aim to dial up customer engagement in India and bolster the narrative around our unique phy-gital proposition, a suite of offerings, and strong Asian connectivity.”
Baseline Ventures co-founder and director Ramakrishnan R added, “DBS Bank has always been a trusted partner, for small and large businesses as well as retail customers. We are excited to help the bank onboard some of India’s most prominent badminton stars as it increases engagement with its customers in India. We are confident that with DBS Bank India’s support, these players will elevate their careers and reach even greater heights while serving as an inspiration for badminton enthusiasts.”
The five young and promising badminton stars have consistently climbed the global rankings, carving a niche for themselves on the international stage. Former world junior number one, Lakshya Sen, has clinched titles in various tournaments and earned a top-ten spot in senior rankings, with recent wins including the Canada Open and notable performances at the US Open, Japan Open, and the 2021 World Championships.
India’s men’s doubles duo, Chirag Shetty and Satwiksairaj Rankireddy have reached World No-two in the badminton world federation (BWF) rankings. They won three BWF World Tour titles this year, including the Indonesia Open 2023 (Super 1000), Korea Open 2023 (Super 500), and Swiss Open 2023 (Super 300). India’s young women’s doubles sensation, Gayatri Gopichand and Treesa Jolly made their mark at the All-England Championship 2022 by reaching the semi-finals in their debut season and repeating the feat in 2023. They clinched medals at the commonwealth games and played a pivotal role in winning India’s first-ever medal at the Badminton Asia Mixed Team Championships 2023.
DBS Bank continues to break boundaries, and its campaigns have been seen as category-defying in the banking industry. For example, the bank introduced an industry-first online mini-series called “DBS Sparks,” which is inspired by true stories and follows a group of young bankers as they navigate their work and personal lives. It showcases how these bankers challenge the status quo, go above and beyond to solve their client’s challenges, and genuinely make an impact in DBS’ quest to be the best bank for a better world.
In 2018, DBS Bank introduced its brand promise, “Live more, Bank less.” This year, the bank launched a clutter-breaking campaign to further strengthen this promise, while showcasing how it brings simplicity and seamlessness to banking. The campaign encapsulates how DBS Bank empowers customers to dedicate more time to cherishing their dreams, pursuing their passions, and nurturing their relationships.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
