Digital
Havas India reels in Prashanth Challapalli to spark digital & innovation fire
MUMBAI: Havas India has hired Prashanth Challapalli, a digital dynamo, to ignite its creative network as chief digital & innovation officer. Based in Mumbai, he’ll be reporting to Havas India, SEA, and north Asia group CEO Rana Barua. Challapalli, a veteran of the digital trenches with over 25 years under his belt, is tasked with fusing cutting-edge tech with creative wizardry, conjuring up digital-first solutions that’ll make brands pop.
Said Barua: “Innovation is no longer an option; it is imperative. The creative industry is undergoing a seismic shift driven by technology, data, and consumer behaviour. Prashant will work closely with network leaders to drive the convergence of creative, media, and health, powered by data-driven innovation and technology, while seamlessly integrating storytelling to enhance impact.”
Challapalli, formerly boss of Gravity Integrated, where he sprinkled his stardust on the likes of Amazon Pay, Google, and Tata Motors, reckons he’s ready for the challenge. “We’re in the ‘Attention Economy’, where AI’s rewriting the rulebook. Creativity’s still king, but innovation’s gone beyond a fancy advert.
Havas’s integrated model, with its AI-powered Converged OS, is like a digital Swiss Army knife. I’m chuffed to be joining a team that’s pushing the envelope, setting new creative benchmarks, and crafting a fresh narrative for Havas, its brands, and its people.”
This appointment is a clear shot across the bow, a digital thunderbolt aimed at shaking up the advertising landscape. Havas is betting big on Challapalli’s ability to weave digital magic, and deliver solutions that are not just innovative, but downright electrifying.
Digital
RBI proposes Rs 25,000 compensation cap for small digital fraud losses
RBI, customer bank and beneficiary bank will share payouts
NATIONAL: The Reserve Bank of India has proposed a new compensation framework for small-value fraudulent electronic banking transactions, requiring the central bank, the customer’s bank and the beneficiary’s bank to share payouts to affected customers.
Under draft rules released on Friday, compensation will be capped at the lower of 85 per cent of the net loss amount or Rs 25,000 in cases where the gross loss from a fraudulent electronic transaction is up to Rs 50,000.
The proposal comes as regulators step up efforts to strengthen customer protection amid a rise in digital banking frauds.
RBI governor Sanjay Malhotra had indicated during last month’s monetary policy announcement that the central bank planned to introduce a compensation framework for small-value digital frauds, allowing affected customers to claim relief once during their lifetime.
According to the draft guidelines, when the loss is below Rs 29,412, compensation of 85 per cent of the loss will be paid. Of this amount, 65 per cent will be borne by the RBI, while the customer’s bank and the beneficiary bank will contribute 10 per cent each.
For losses of Rs 29,412 or more but up to Rs 50,000, the compensation will be capped at Rs 25,000. In such cases, the RBI will contribute Rs 19,118, while the customer’s bank and the beneficiary bank will each contribute Rs 2,941.
If funds are later recovered after compensation has been paid, the customer’s bank must recalculate the payout based on the revised net loss and adjust the recovered amount accordingly.
Customers will be eligible for compensation only if they report the fraudulent transaction within five calendar days of its occurrence.
Complaints must be lodged both with the bank and through the National Cyber Crime reporting portal or the National Cyber Crime helpline. Banks must also confirm that the loss is bona fide under their internal processes.
Once a complaint is received, banks must compensate the customer within five calendar days, the draft rules state.
In joint accounts, only one account holder may submit a compensation claim.
The central bank has also proposed tightening transaction alerts by mandating instant SMS notifications for all electronic banking transactions above Rs 500. For transactions of up to Rs 500, banks may decide whether to send alerts based on internal policies.
Banks will not be allowed to charge customers for SMS messages sent to meet regulatory requirements or those used for promotional, marketing or customer awareness purposes.
The draft framework also calls for stronger oversight by requiring banks to periodically report complaints related to fraudulent electronic transactions to their boards or board-level committees. These reports must detail the number and value of cases across categories including card-present transactions, card-not-present transactions, internet banking, mobile banking and ATM transactions.
The RBI has invited public comments on the draft guidelines until 6 April, 2026. The rules are expected to take effect on 1 July, 2026 once finalised.
Banking officials say the proposed sharing of compensation between the RBI, the customer’s bank and the beneficiary bank is intended to increase vigilance across the digital payments ecosystem.
