Brands
Praveen Kumar named SVP, business head sports digital and LTV at JioStar
MUMBAI: Praveen Kumar has hit the ground running at JioStar, taking on a new leadership assignment as senior vice president and business head for sports digital and LTV. The move marks another decisive chapter in a career built on steering brands, deals and data through India’s fast-changing media landscape.
With over two decades of experience behind him, Kumar arrives at JioStar after a high-impact stint at GroupM, where he led trading, partnerships and sports. Known for blending commercial sharpness with strategic flair, he played a central role in managing large-scale advertiser relationships and navigating both online and offline media ecosystems.
Before GroupM, Kumar spent more than four years at GroupM Essence as vice president and national trading head, overseeing trading operations across platforms and handling marquee clients spanning technology, FMCG, telecom and digital-first brands. His earlier career reads like a tour of the industry’s powerhouses, with senior roles at Amazon, Mindshare and Madison Media, where he cut his teeth in media planning, trading and leadership.
Beyond boardrooms and balance sheets, Kumar also brings an academic edge, having taught marketing and advertising early in his career. That mix of classroom clarity and commercial grit has shaped his reputation as a leader who can simplify complexity and spot value where others see noise.
At JioStar, Kumar is expected to sharpen the company’s sports digital strategy while building long-term value in a market where audiences, platforms and monetisation models are constantly on the move. For an industry obsessed with the next big play, his appointment signals a steady hand on the tiller and an eye firmly on the future.
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.
