MAM
Subhash Kamath joins BrandMusiq board of directors
Mumbai: BrandMusiq, the pioneering audio and sonic branding agency in India known for its innovative approach to creating signature sounds for brands, is pleased to announce the appointment of Subhash Kamath to its board of directors consisting of Rajesh Patel, Hari Marar and Safir Anand. With nearly 40 years of experience in the advertising industry and a profound passion for music, Subhash Kamath brings a wealth of strategic insight and creative vision to his new role at BrandMusiq.
Besides being on the Board, Subhash will work closely with founder, Rajeev Raja and co-founder, Ajit Varma to help build and market the BrandMusiq brand across geographies, as well as contribute to the Creativity and Innovation initiatives being set in place to propel BrandMusiq into becoming a leader in the digital environment.
In a rich career spanning 36 years across top agencies like Ogilvy, Trikaya Grey, Bates, Publicis and BBH, Subhash held top leadership positions as well as that of being a CEO for 17 years. Subhash has been instrumental in leading strategic initiatives and driving growth for both Indian and multinational clients. His track record of success includes spearheading mergers and acquisitions for WPP and founding organizations like BBH in India, solidifying his reputation as a visionary leader in the industry. Subhash is currently working as an independent brand consultant and a mentor.
Beyond his illustrious advertising career, Subhash Kamath is also an accomplished musician, having served as the lead singer and guitarist of the band ‘Wanted Yesterday’ alongside Rajeev Raja, founder of Brand Musiq.
Commenting on Subhash Kamath’s appointment, BrandMusiq founder Rajeev Raja expresses his enthusiasm. “Subhash’s extensive experience and deep understanding of the advertising landscape make him an invaluable asset to BrandMusiq. His passion for music and proven track record of strategic leadership align perfectly with our vision of redefining the auditory landscape of branding. I have long admired Subhash’s work and am thrilled to welcome him to the BrandMusiq family.”
Subhash Kamath, in his statement, said, “I’m a fan of brands. And nothing excites me more than helping take brands into the future. In this fast-paced digital world of consumers, sonic branding is becoming an imperative for brands seeking to create stronger emotional connections. And BrandMusiq has been doing some cutting edge work in this space. Given my love for both brands and music, I’m just delighted to be part of this amazingly talented team.”
Rajeev Raja and Subhash Kamath share a mutual appreciation for each other’s work, having known and admired each other’s contributions to the advertising and music industry over the years. Their shared vision and commitment to excellence make them a formidable team poised to lead BrandMusiq into its next phase of growth and innovation.
As the first and leading audio and sonic branding agency in India, BrandMusiq remains committed to pushing boundaries and setting new standards in the field of sonic branding. With Subhash Kamath on board, BrandMusiq is well-positioned to continue its mission of creating impactful sonic identities that resonate with audiences worldwide.
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.
