MAM
Stellantis awards India communications mandate to Concept PR
Mumbai: Global automaker and mobility provider Stellantis has announced the appointment of Concept Public Relations (Concept PR) as its PR agency in India for 2022. The agency will consult and execute Stellantis group communication in India along with Jeep and Citroën communication mandates.
The mandate includes strategic consultation, planning, media relations, issues and crisis management, and integrated campaign development for the group and both brands, said the statement.
“2022 is a big year for both brands with key products lined up for launch and so our communication strategy will be crucial,” stated Jeep India brand head Nipun Mahajan. “We believe Concept Public Relations (Concept PR) will be the right partner to ensure the brands remain engaging and exciting.”
“We were impressed with their ideation capabilities, passion and energy, and felt this is the right time to bring in some new thinking for both brands. We are excited for the next phase of Stellantis and look forward to a great year ahead with Concept,” added Citroën India brand head Saurabh Vatsa.
The mandate will be managed by Concept PR’s nationwide network offices. The account will be serviced by the corporate team in Mumbai complemented with the required topline industry experience in the auto sector from across the Concept network, said the statement.
“Working with iconic brands like Jeep and Citroën is an honour for everyone in Concept,” said Concept PP managing director Ashish Jalan. “Both brands are at the pinnacle of their craft. This is an exciting opportunity for the Concept family and we are committed to driving significant impact for the brands through effective communication strategies.”
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.
