MAM
The Josh is at an all-time high as BookMyShow sells 5 million tickets for 2019’s first blockbuster Uri: The Surgical Strike
MUMBAI: Aditya Dhar’s directorial debut Uri: The Surgical Strike has been the cynosure of all eyes since its trailer release. In what reflects immense appreciation for the film across the country, BookMyShow, India’s leading entertainment destination, has sold over 5 million tickets for Uri: The Surgical Strike.
Blowing past expectations, the film scorched the screens, going from a fantastic first weekend to entering the coveted Rs 200 crore club recently, proving yet again that content-driven films continue to win at the box office. The film has been showered with great reviews and a strong word of mouth, aiding the film’s growth, week-on-week. A large section of BookMyShow users actively rated the film at a consistent average of 90%.
Speaking about the response that the film has received, Ashish Saksena, COO – Cinemas, BookMyShow said, “Uri is undoubtedly the first blockbuster of this year! Its impressive box-office collections along with a strong performance on BookMyShow is a testament of millions of movie-goers' preference to reach out to us to watch their favourite films, week after week. With a strong narrative and technical prowess, the film has proved that good content wins over everything. Uri has been enjoying its much-deserved fame and continues to grow stronger.”
Ronnie Screwvala, RSVP said, “Uri has been an inspirational movie for so many, and loved by many more and that is the most gratifying experience for RSVP, the director, the cast and the entire team that made this happen. That the movie also worked at the Box office is a true Salute to our audiences in India and around the world. 5 million tickets of Uri sold on BookMyShow is indeed a statement of how successful the platform is. We are proud of our ongoing collaboration with BMS and look forward to many more.”
Starring Vicky Kaushal in the lead, Uri: The Surgical Strike is based on the real-life surgical strike undertaken by the Indian Army in PoK in 2016.
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.
