Brands
Milk still rules the cup as young India stays dairy devoted
MUMBAI: On National Milk Day, Godrej Jersey’s latest Lactograph study shows that India’s bond with milk is proving hard to shake. Conducted with research partner YouGov across eight major cities, the survey reveals that 71 per cent of young urban Indians still consume milk or dairy regularly, even as the classic glass has reinvented itself through smoothies, cold brews, protein shakes and celebratory flavoured blends.
The findings show that milk continues to flow through India’s favourite rituals. For 59 per cent of consumers, tea and coffee remain the primary way to enjoy it, while 41 per cent turn to flavoured milk during festivals. Flavoured varieties such as kesar and badam continue to rise, with 58 per cent choosing them often, and 51 per cent blending milk into smoothies for a more energetic start to the day.
Nostalgia also plays a powerful role. Over half the respondents said plain milk connects them to childhood, evoking memories of before school snacks, bedtime warm milk, late night treats and the familiar doodh roti. The study suggests that milk still represents comfort, care and home for many Indians.
Yet the report also sounds a note of concern. 64 per cent of parents believe their children may have lower bone density due to reduced milk intake compared to their own childhoods, while more than half feel their child’s physical growth is slower. In response, parents rely heavily on milk for calcium, protein and all day energy, and view it as central to fitness and nutrition.
The study highlights a clear shift toward branded dairy, with 64 per cent of households choosing branded animal based milk over unbranded loose milk. Trust, hygiene and consistent quality top the list of reasons, underscoring the growing importance of safety in modern food habits.
Godrej Jersey head of marketing Shantanu Raj, said the findings show that milk is evolving rather than declining, noting that consumers want higher protein dairy options, fortified products and convenient formats. He added that the brand is responding with innovations that combine nutrition and taste without compromise.
Beyond the glass, dairy continues to dominate India’s table. Dahi, paneer and butter remain essentials in most homes, reflecting how firmly dairy is woven into daily meals and mood.
As lifestyles shift and new habits emerge, the study makes one thing clear: milk continues to anchor nutrition, culture and comfort across generations, whether served in a steel tumbler, a shaker bottle or a chai cup.
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.
