MAM
Ouch Cart announces exciting summer sale
Mumbai: Ouch Cart, is a leading brand in the furniture industry and is known for its affordable range of pieces to upgrade your home interior space. Excited to announce its much-awaited summer sale which can be availed through their website, Customers can get incredible discounts of up to 55 per cent on a wide variety of products. For individuals who are looking to upgrade their home furniture and are tight on budget, this is the perfect time to grab this sale opportunity and shop exclusive pieces on Ouch Cart at affordable prices.
Summer sale highlights:
– Rocking Chairs: Rocking chairs are best for relaxation and reading books or enjoying the weather, and you can enjoy this peaceful retreat with up to 65 per cent off in this sale.
– Upholstered Beds: With an extra 20 per cent off on upholstered beds, you can add a touch of royal feeling to your bedroom.
– Plant Stands: Plant enthusiasts who live to bring new plant holders and stands to upgrade the aesthetic look of their home can avail of 50 per cent off in this sake by buying beautiful plant stands on the website.
– Study Tables: Create a productive workspace with our stylish study tables, now up to 52 per cent off.
You can use the special code **SUMMER** at checkout to avail of these exclusive discounts.
“Ouch Cart’s Summer Sale is our way of helping customers create beautiful and comfortable spaces,” said Ouch Cart founder Atif Shamsi. “We are excited to offer these amazing deals and provide quality furniture solutions for every home.”
The 55 per cent off Summer Sale is available online at Ouch Cart and in specialty shops and selected department stores all over the country. Visit the website at https://ouchcart.com/ to explore wide range of discounted products. To acquire the best products, customers are advised to shop early.
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.
