MAM
Supari Studios appoints Shirley D’Costa as chief business officer
MUMBAI: Award winning content studio, Supari Studios, appoints Shirley D’Costa as the company’s Chief Business Officer.
In her current role, Shirley will be responsible for building partnerships with current and new clients, in addition to developing growth and marketing strategies to drive the business further.
A MICA alumni, Shirley brings with her over 13 years of industry experience. Prior to joining Supari Studios, she was Digital Practice Lead (West Region) at MSL, the strategic communications and engagement division of Publicis Groupe, where she was responsible for driving the growth and adoption of digital communication in the region. In the past, Shirley has also been Business Lead at 22feet Tribal Worldwide, where she started off among their first set of employees and went on to lead a team of 70. In her extensive career, Shirley has spearheaded digital strategy for several global brands such as Axe, Disney, Marvel, Red Bull, TRESemmé and L’Oreal, to name a few.
Speaking on the appointment Manoti Jain, Chief Operating Officer, Supari Studios said, “We're extremely pleased to have Shirley on board with us as our Chief Business Officer. In addition to her industry experience spanning over a decade, she brings a business-oriented and strategic perspective to our organisation, further establishing the integrated content studio model that we are aiming to build. Her expertise will be instrumental in driving our growth in this dynamic marketplace, helping us stay ahead of the curve. We welcome Shirley to the Supari family, and look forward to creating an impactful experience for the company as well as for our clients, together.”
On joining Supari Studios, Shirley D’Costa said, “As a previous collaborator, I’ve known of the phenomenal work that Supari Studios has churned out in the branded content space. Now, having joined the company at an instrumental juncture, I’m excited to set up its business and strategy offerings as a full fledged Content Studio, further extending its influence in the content industry.
Apart from our aligned goals of creating impactful, effective, video content, I am eagerly looking forward to working with the very driven, hungry, talented team at Supari Studios.”
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.
