Brands
Sonata Watches launches Poze: The new statement in trendy timekeeping
Mumbai: Sonata, a renowned name in the watchmaking, is excited to announce the debut of its newest sub-brand, Poze. Aiming to capture the essence of contemporary fashion, Poze is designed with the modern youth in mind, offering a range of watches that complement their online persona and everyday style.
Poze’s first line is a celebration of style and variety, crafted to suit both men and women who are actively seeking to elevate their fashion quotient. The collection is a reflection of today’s contemporary fashion, offering timepieces that add a touch of sophistication and trendy appeal to any outfit.
To kick off the sub brand launch, Sonata collaborated with the creative minds at DDB Mudra Group, a marketing and branding agency, to produce a captivating campaign film titled “What’s Your Poze?” The film not only showcases the unique charm of Poze watches but also invites individuals to explore their personal style and express themselves through the brand’s distinctive timepieces.
“At Sonata, we are dedicated to bringing the latest in fashionable timekeeping to our discerning customers. With Poze, we continue this tradition by offering a range of watches that are as much about making a personal style statement as they are about timekeeping. We invite the youth to define their style statements with Poze’s stunning selection, available at price points that make fashion-forward timekeeping accessible to everyone,” said Sonata marketing & product head Prateek Gupta.
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.
