MAM
Havas Media wins HolidayIQ’s Rs 30 crore media mandate
MUMBAI: Havas Media Group India has won the integrated media mandate of HolidayIQ.com in a multi-agency pitch. The duties will include traditional, digital and mobile solutions.
The estimated size of the business is upwards of Rs 30 crore.
The portal enables travellers to discover, plan holidays and share holiday experiences. HolidayIQ.com provides customised, relevant, information and insight son – places, hotels, sightseeing and transport to customers.
HolidayIQ founder and CEO Hari Nair said, “We believe in the science of holidays and Havas Media delivered an impressive scientific, strategic approach to the business, which was in sync with our objectives. Young, professional and passionate we look forward to working with this Havas Media team.”
HolidayIQ.com CMO Diptakirti Chaudhuri added, “The recommendations from Havas Media had a good balance of data and content. Their deep understanding of the category and their thought leadership made them win this mandate.”
Havas Media Group-India and South Asia CEO Anita Nayyar said, “It is a great win for us. HolidayIQ is a very meaningful brand in an extremely engaging category. Havas also has an entrepreneurial DNA, which allows us to understand the challenges and objectives of these clients better. Bangalore is an important market for us and we are seriously investing time and talent in expanding our operations here.”
Havas Media Group India managing director Mohit Joshi added, “We are glad that our focused efforts and strategy towards acquiring the integrated media mandates of new age businesses is paying off. Our compelling value proposition is a clear winner in the market. We look forward to a great association.”
The win comes on the back of Havas winning the integrated media business of BlueStone.com. Both these businesses will be handled by Havas Media office in Bangalore.
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.
