MAM
Rategain bets big, names Anurag Jain as EVP to lead growth charge in APMEA
MUMBAI: In the high-speed world of travel tech, getting left behind is about as appealing as missing your connecting flight. So, Rategain Travel Technologies has strapped itself firmly into the pilot’s seat by appointing Anurag Jain as its executive vice president for the Asia Pacific, middle east, and Africa (APMEA). With Jain at the helm, Rategain’s aiming to ensure its AI-powered solutions fly higher than ever—no turbulence allowed.
Announced on 20 March 2025, Jain’s appointment signals Rategain’s serious play to turbocharge its growth, partnerships, and market presence. Bringing more than 20 years of heavy-hitting experience, Jain previously transformed businesses at Expedia, Amazon, Johnson & Johnson, and Godrej. At Expedia, he notably drove expansion in south Asia, Indonesia, and China, helping hotels navigate digital mazes to optimise revenue streams.
“Anurag’s extensive experience in travel, e-commerce, and market expansion makes him an invaluable addition to Rategain,” said Rategain founder & MD Bhanu Chopra. “As APMEA continues to see rapid digital adoption and evolving travel trends, his leadership will be crucial in helping our customers maximize revenue, enhance distribution, and stay ahead in a competitive market. We are pleased to welcome him to the team as we further our mission to empower travel and hospitality businesses with AI-driven solutions, achieving unparalleled growth.”
Equally excited, Jain stated, “I am excited to join Rategain at a time when AI-driven innovation is reshaping the travel and hospitality industry. The opportunity to work with industry leaders and bring cutting-edge solutions to hotels, airlines, and OTAs across APMEA is incredibly exciting. I look forward to driving growth, building strategic partnerships, and delivering impact in one of the most dynamic travel markets in the world.”
An enthusiastic traveller himself, Jain enjoys exploring new destinations and is passionate about digital transformation—further proving he’s the right man to pilot Rategain’s next big leap. With Jain onboard, the journey ahead for Rategain promises to be as smooth as a first-class flight, equipped with all the latest tech upgrades.
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.
