Brands
Lloyd D’souza returns to Lava International as chief business officer
MUMBAI: Lloyd D’souza has rejoined Lava International Ltd as chief business officer for enterprise business, marking his return to the Indian smartphone manufacturer after a five-year absence.
The appointment comes as D’souza brings a wealth of government and public sector experience to Lava’s enterprise division. His remit will focus on advancing business across government, corporate customers and public sector undertaking verticals from the company’s Noida headquarters.
D’souza previously served as head of enterprise business at Lava between March 2018 and October 2020, where he oversaw enterprise sales, international operations, government sales and electronics manufacturing services. His departure coincided with a broader reshuffling in India’s competitive smartphone market.
Since leaving Lava, D’souza spent over three years as director at Laqshanya Solutions Pvt Ltd, where he specialised in identifying government and public sector clients, coordinating customer relations and managing tender processes. He also held a senior vice president role at Square Panda Inc between October 2020 and February 2022.
The executive’s career spans over two decades in business development and experiential marketing. He spent 13 years as director of Maverick Marketing, a full-spectrum experiential marketing agency, before transitioning to the mobile technology sector with Karbonn Mobiles in 2015 as executive director.
At Karbonn, D’souza managed e-commerce, international sales and institutional sales operations during the height of India’s smartphone boom. His expertise in government affairs, crisis management and competitive tendering has made him a sought-after figure in India’s technology sector.
Lava International, founded in 2009, has been working to reclaim market share in India’s increasingly crowded smartphone market, dominated by Chinese brands and global players. The company’s focus on government and enterprise customers represents a strategic pivot towards higher-margin business segments.
D’souza’s return signals Lava’s renewed push into enterprise and government markets, sectors where his established relationships and tender management expertise could prove valuable for the homegrown brand.
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.
