MAM
Pashmina Roshan and FNP collaborate for a heartfelt Father’s Day tribute
Mumbai: This Father’s Day, Bollywood debutante Pashmina Roshan, daughter of music maestro Rajesh Roshan has teamed up with FNP (Ferns N Petals), India’s leading gifting platform, to share a special video for her father, filled with love, music and cherished memories.
In a touching Instagram video, Pashmina shares the beautiful bond she shares with her father. She recalls a childhood filled with melodies and happiness. “My dad has always given me all his support in everything I did,” Pashmina highlights in the video.
Pashmina’s collaboration with FNP highlights the brand’s 2024 Father’s Day collection, a testament to refined taste and thoughtful gifting. The collection features tuxedo-inspired bouquets, luxurious grooming sets, personalized accessories, indulgent gift hampers, delectable cakes, lush green plants, and artisanal chocolates. Each item was chosen to reflect her deep appreciation for the man who filled her life with music and joy.
FNP global CEO & director Pawan Gadia expressed the significance of this collaboration, stating, “Father’s Day is a momentous occasion to celebrate fathers, father figures, and the spirit of fatherhood. Our collaboration with Pashmina Roshan illustrates the value of heartfelt gestures and our commitment to making every occasion special through our curated gifting options.”
Join Pashmina in celebrating the fathers who fill our lives with love and support. Let’s make this Father’s Day unforgettable for our dads with FNP’s exclusive Father’s Day collection, crafted for a global audience and available for seamless delivery across India and worldwide.
Check out FNP’s Father’s Day collection at https://www.fnp.com/gifts/for-father-lp Digital
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.
