Brands
Limelight Diamonds opens new Meerut store as expansion sparkles
MEERUT: Limelight Lab Grown Diamonds has added fresh sparkle to North India with the opening of its newest exclusive store in Meerut, marking another stride in the brand’s rapid nationwide expansion. With more than 50 exclusive stores and over 40 shop-in-shops across 45 cities, Limelight continues to lead India’s shift towards sustainable fine jewellery.
The store, inaugurated by director Karam Chawla alongside regional partners Deepak Jain and Deepanshu Jain, sits on Meerut’s bustling Begum Bridge Road. Inside, customers will find Limelight’s signature curation of elegant necklaces, striking solitaires, contemporary earrings, bracelets and versatile everyday wear.
Designed in the brand’s trademark minimal, modern style, the new space offers an immersive shopping experience that highlights the brilliance and craftsmanship behind its certified lab grown diamonds.
To mark the launch, Limelight is offering a special privilege: 15 per cent off on diamond value, 15 per cent off on making charges, and a complimentary gold coin on purchases above Rs 1 lakh.
Founder and managing director Pooja Sheth Madhavan, said the opening reflects the brand’s mission to build the lab grown category with clarity and scale. “Meerut marks an important milestone as we strengthen our presence with more than 50 stores. Uttar Pradesh has shown a tremendous appetite for modern diamond jewellery, and our expansion here mirrors the growing trust in the category. Our vision is to make lab grown diamonds a preferred and progressive choice for today’s consumer.”
Karam Chawla added that changing aspirations are driving Limelight’s northward growth. “Cities like Meerut are redefining luxury with a focus on innovation and informed choices. The response from Uttar Pradesh has been extremely encouraging, and we believe Meerut will become a key market for consumers seeking jewellery that blends brilliance with forward-thinking values.”
Regional partner Deepak Jain said Meerut’s customers are ready for a brand that combines quality with modernity. “Limelight’s emphasis on transparency, craftsmanship and innovation aligns perfectly with the city’s evolving taste. This store will quickly become a trusted destination for exceptional diamond jewellery.”
With the Meerut launch, Limelight continues to accelerate its retail footprint, bringing its blend of contemporary design, cutting-edge technology and sustainable luxury to more jewellery lovers across India.
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.
