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Synology-Toshiba shake hands, put all their eggs in strategic basket
MUMBAI: Ever heard of putting your data safely in a basket? Synology and Toshiba just agreed it’s safer to put their eggs—or rather, bytes—in one very secure basket. Think Batman and Robin, but for enterprise storage solutions. Yes, this duo is here to prove two heads (and a few terabytes) are indeed better than one.
On 19 March 2025, Synology and Toshiba Electronic Components Taiwan Corporation formalised their long-standing collaboration by signing a memorandum of understanding (MoU). The agreement outlines plans for deepened cooperation, structured intellectual property management, and further market expansion.
Why the big fuss? Because Synology and Toshiba have already been quietly revolutionising enterprise storage, enhancing system stability, and performance through shared tech initiatives. This MoU isn’t just paperwork—it’s a roadmap to making enterprise data storage cooler (and way more efficient).
Toshiba’s storage products sales & marketing division general manager, Atsushi Toyama said, “Synology is one of Toshiba’s most significant and long-standing partners in the Asia-Pacific region. This collaboration enables us to leverage our combined expertise to create greater value for our customers.”
Synology chairman & CEO Philip Wong added, “Toshiba has been a key strategic partner of Synology for years. We look forward to deepening our collaboration and delivering even more advanced storage and data management solutions that exceed our customers’ expectations.”
So, enterprise customers, rest easy—your storage superheroes just teamed up officially. Batman and Robin? Old news. Synology and Toshiba? Now that’s a dynamic duo worth storing away.
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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.
