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Prem Dagar steps up as vice president at Omaxe Limited
FARIDABAD: Prem Dagar’s journey at Omaxe Limited has come full circle, with the real estate major elevating him to vice president, a role that crowns nearly two decades of on-ground experience and steady leadership.
Based in Faridabad, Dagar will continue to steer sales and marketing strategy for Omaxe’s key projects across Faridabad and the wider NCR region. His focus remains firmly on driving growth, strengthening market presence and translating footfalls into firm numbers, a skill he has quietly mastered over the years.
Dagar joined Omaxe in 2006 and went on to play a central role in marquee developments, including the World Street project in Sector 79, Faridabad, where he led sales and marketing efforts. After a long stint as general manager, he returned to the company in 2023 as additional vice president for sales and marketing, setting the stage for his latest elevation in January 2026.
An MBA graduate from Guru Jambheshwar University, with specialisation in marketing and international business, Dagar blends academic grounding with street-smart execution. His rise reflects both personal consistency and Omaxe’s preference for nurturing leaders from within.
In an industry known for sharp turns and shifting sentiment, Dagar’s promotion reads like a calm vote of confidence, one built not on headlines, but on years of closing deals and building trust.
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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.
