MAM
Do-iT Talent Ventures signs badminton star Saina Nehwal
MUMBAI: Do-iT Talent Venture, the firm owned by Darshana Bhalla and Radha Kapoor Khanna, reinforces its sport portfolio with the 4th most famous global woman athlete Saina Nehwal.
Do-iT Venture has signed badminton player Saina Nehwal for the long term purpose for all her commercial and player endeavours which also includes sponsorships, endorsements, publishing, appearances, digital rights amongst others.
Nehwal is one of India’s top badminton players and earlier she was the flag bearer of the Indian badminton contingent for the longest time. Bronze in 2012 Olympics and Commonwealth gold in 2010 and 2018 are some of the highlights of her illustrious career. She is the only Indian woman to be ranked number one in the world. In 2016 she was awarded India’s third highest civilian award, Padma Bhushan.
Do-iT Talent Ventures (India) CEO and Founder Darshana Bhalla said, “Right at the advent of Do-iT Talent Ventures, we expressed that we believe in talent across various arenas and having Saina Nehwal as one of our lead talent illustrates our passion and enthusiasm towards Sports. Saina is a renowned champion and her dedication and commitment resonates ours, hence collectively we look forward to do some exemplary work. We believe in optimising our talent’s potential by putting together a robust strategy followed by an intently structured micro action plan”.
Nehwal added, “As an individual, I have always attempted to work with experts. I am sure that Do-iT Talent Ventures’ proficiency in understanding my sport and its potential influence will be highly impactful for me and my career. They hold high repute and have aligned work ethics with me. The team has immense experience in managing top talent across fields and I am excited about this association.”
In a short span of three months Do-iT Talent Ventures has signed a number of celebrities across entertainment and sports like Farhan Akhtar, John Abraham, Lara Dutta, Kajal Aggarwal, Neeraj Pandey Samir Kochhar and Vicky Ratnani in Culinary. In sports, they have Virender Sehwag, Mahesh Bhupathi, Geeta Phogat, Ashwini Ponnappa, Robin Singh, Viren Rasquinha and Aparna Popat.
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.
