Brands
Kajal Aggarwal launches home lifestyle brand
Mumbai: Renowned actress Kajal Aggarwal, widely acclaimed for her stellar career in cinema, is poised to make a lasting impact in the home lifestyle Space with the introduction of her exclusive Brand Licensing Program. Partnering with Swag, a brand licensing company renowned for creating and establishing some of India’s most prominent celebrity-led brands, Kajal Aggarwal aims to bring her visionary home design ideas to life.
Inspired by a profound passion for blending India’s rich cultural heritage with contemporary living aesthetics, her Brand Licensing Program promises to seamlessly integrate traditional artistry with modern design sensibilities. She aims to develop premium home lifestyle products that resonate with both heritage enthusiasts and modern homeowners.
For the upcoming launch of her Brand Licensing Program at the HGH India tradeshow, renowned celebrity Kajal Aggarwal expressed her enthusiasm, stating, “At this stage in my life, focusing on Home Lifestyle categories comes naturally.” I am deeply passionate about the vibe and design aesthetics that shape our homes. I am looking forward to bringing my home design ideas to fruition through my brand and am excited to meet and engage with industry leaders at HGH India to explore potential collaborations.”
Swag CEO Vishal Sinha stated, “Kajal Aggarwal holds significant influence, and this Brand Licensing Program offers a unique opportunity for companies in the Home Lifestyle sector to collaborate with her. It enables the creation of products that authentically reflect her persona and design ideas, which are aspirational and resonate well with target consumers, fostering strong consumer engagement.”
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.
