MAM
Sporty Solutionz and Aidem Ventures form Aidem Sporty
MUMBAI: Aidem Ventures and reputed sports Management Company, Sporty Solutionz have formed a joint venture under the name of ‘Aidem Sporty’. Aidem Sporty would announce about their other sports properties in due course of time.
Aidem Sporty as a venture is set to provide holistic solutions and create success stories for the current Sports league and team owners on board. As per the contract, the highly experienced Aidem team will be managing and monetising the valuable sports properties in India.
In the past, Aidem has been an exclusive media representation house for established sports properties such as Indian Badminton League [a Sporty Solutionz property], National Games Kerala 2015, Bangladesh Premier League, Sri Lanka Premier League and many other salient properties.
Since 2011, Sporty Solutionz has been actively launching various sports properties in India. As a leader in media rights distribution in the Indian sub-continent, Sporty Solutionz has a 360 degree expertise in the business of sports.
Aidem Ventures chairman Ashok Kumar Gupta said, “This expansion will now help us to streamline our focus on general entertainment and sports entertainment as two individual platforms enticing brands to leverage our segmented products on board. With Aidem Sporty, we are looking forward to being one of the leading solution providers in the field of sports consultancy and marketing.”
Sporty Solutionz CEO Ashish Chadha mentioned, “I believe this synergy of two successful businesses will be an ideal promotional vehicle for all the sports-based brands in India.”
Recently, AidemSporty seized their first deal with a newly-launched sports portal, www.insidesport.co that delves into the business of Sports in India and overseas. The portal was unveiled in Pune amidst the presence of global sports legends like Shane Warne, Harbhajan Singh, Sunil Gavaskar, Virendra Sehwag, VVS Laxman and many other luminaries.
“We are confident to scale up the sports business with our expertise,” exclaimed Aidem Ventures president Alok Rakshit.
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.
