MAM
Haldiram’s and Times Prime strengthen partnership with year-long exclusive member offer
Mumbai: We are thrilled to announce the next chapter in our partnership between Haldiram and Times Prime. Following the remarkable ‘Azaadi ka Tyohaar’ celebration, where we joyfully distributed laddoos, we are joining forces once again to offer an exclusive benefit to our valued Times Prime members.
Haldiram president of retail & QSR Kailash Agarwal, remarked on the partnership, “Building upon our successful collaboration with Times Prime, we are excited to elevate this relationship further. The laddoo distribution by Haldiram’s and Times Prime during ‘Azaadi ka Tyohar” on the occasion of 77 Independence Day, set a high standard. Now, we are pleased to offer Times Prime members a sweet offer of complimentary ‘sweet lassi’ with their orders, enhancing their Haldiram experience as a token of our appreciation.”
Times Prime founder and business head Harshita Singh reflected on the partnership’s evolution, saying, “Transitioning from a one-off campaign to a year-long collaboration with Haldiram’s underscores our commitment to providing our members with unparalleled value and unique experiences. The positive response to our initial effort has not only motivated us to continue but also deepened our partnership, starting with this exclusive offer.”
This new milestone in the collaboration between Haldiram and Times Prime celebrates the innovation and tradition embodied by both brands. It reflects a mutual dedication to delivering memorable and value-driven experiences to customers.
Times Prime members are warmly invited to savour this special offer, symbolizing the enduring partnership and shared appreciation for their continued support. Both organizations eagerly anticipate bringing more value, joy, and innovative benefits to the Times Prime membership experience throughout the year.
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.
