MAM
Efficacy Worldwide goes on an expansion spree
Mumbai: Efficacy Worldwide, the dynamic and visionary advertising and marketing agency, is proud to announce its strategic expansion into multiple markets across India and opens its first international office in Singapore. This move marks a significant milestone in Efficacy’s journey towards becoming a global leader in the industry.
Efficacy Worldwide, which was established in 2021, has extended its footprint beyond its Gurugram headquarters to key cities, including Mumbai, Bangalore, Kolkata, and Lucknow and in the international market. This expansion allows the agency to better serve clients across the nation and tap into diverse regional markets.
Breaking new ground, the agency has opened its maiden international office in Singapore. This strategic move not only signifies the agency’s commitment to international growth but also lays the foundation for future operations in South Asian markets and the Middle East.
To support the expansion, Efficacy has expanded the roles of the founding team and bolstered its leadership team, welcoming several accomplished professionals to ensure continued success and innovation:
The founding team, Vishnu Sharma and Sapna Sharma assumed additional responsibilities, more diverse functions, and larger portfolios.
Nazda Khan continuing to lead business development as chief growth officer.
Saumya Agarwal joins as the head of the West and South business, bringing extensive industry expertise to drive growth in these regions. He has joined Efficacy from Nykaa where he was working as associate vice president, marketing & communication.
Apoorva Snehil Katyayen shoulders the role of business head, responsible for leading U.P. and tier II cities and strengthening the agency’s presence in emerging markets.
Ravindra Singh, who has been with Efficacy for more than two years, has expanded his role to head the North and East markets, in addition to leading national delivery efforts.
Arijit Ray takes the helm of the Kolkata office, reporting to Ravindra Singh, to spearhead strategic initiatives in the East.
Karishma Sharma, who has been instrumental in driving business development, will continue to do so along with spearheading the growth in the influencer marketing vertical as well as guiding the agency’s e-gaming initiatives.
Shubham Sharma will oversee the digital vertical for the agency across India, hand in hand with the key leadership team, and will fuel new tech initiatives. Shubham has been with Efficacy since the inception days.
Tushar Sharma remains focused on building the communication vertical, securing creative wins, and driving innovation. He has been associated with the agency for close to two years.
Efficacy Worldwide founder & CEO Vishnu Sharma shares, “This expansion marks the first step in realising our vision to become the first and largest Indian agency to go global and sign on Indian-origin international businesses. It reflects our unwavering commitment to providing exceptional services and success for clients on a global scale. We are excited to broaden our horizons and find clients in new markets. Limitless possibilities lie ahead, and we’re going to make the most of them to continue trailblazing in the advertising and marketing industry.”
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.
