MAM
This festive season, SPACES launches its second edition of the Rangana collection with a campaign inspired by traditional Indian art
MUMBAI: SPACES, Welspun India Limited’s marquee textile brand, has launched a unique campaign to introduce its limited-edition festive range – Rangana Collection. Having received great response from the consumers last year, the brand has introduced the collection again, with a variation. Known for its thoughtful designs, the collection draws inspiration from the vibrant art forms from across India thereby celebrating the diverse cultures of each region.
From Onam and Pujo to Dussehra and Diwali, post September, India witnesses a plethora of festivals whereby people not only purchase home décor to adorn their homes but also to gift others. Taking cognizance of this, SPACES launched its Rangana collection that reflects and celebrates the traditional Indian art forms. It embodies six art forms – Ajrakh, Madhubani, Gulrana, Vallam, Debjani & Patachitra – that weaves in the authentic folk heritage and brings alive the culture, rituals, beliefs and the essence of festivity. The designs in this collection are crafted in a way that is apt for modern way of celebrating festivals, while drawing the millennial consumer to such ancient art forms.
Being a brand that believes in being thoughtful, SPACES is contributing a certain percentage of proceeds from the sales of Rangana collection to the artisans’ community. The funds will be used to support and encourage the development of these communities.
The campaign kick starts with two digital films conceptualized by Ogilvy that depict how the Indian art forms are translated into awe-inspiring bedsheets. The first film, which narrates the exquisite tales from the land of Kashmir, portrays a woman sitting on the bed trying earrings from a beautiful Gulrana jewellery box. With the sound of the doorbell, she leaves the room leaving the box behind on the white bedsheet. The scene then shows how the intricate Gulrana design on the box shimmers and starts growing beyond the box, spreading all across the bedsheet. The second film is based on Bihar’s art form – Madhubani. The film begins with a beautiful Madhubani scene painted across a mud wall in a village, which comes alive depicting men, women being chased by a lion. At the growl of the lion, the leaves in the painting fly onto the white bedsheet that is drying adjacent to the wall.
Commenting on the campaign, Ms. Manjari Upadhye, CEO, Domestic Business, Welspun India said, “SPACES is synonymous to thoughtful living with its unique designs and innovative products. It is a brand that weaves contemporary and traditional designs on bed, bath, coordinates. In line with this ethos, the new Rangana Collection celebrates the Indian traditional art forms with a modern touch. Through our campaign, we aim to revive our ancient art forms and rich heritage. Taking forward the idea of thoughtfulness, we are also giving back to the society by contributing to the growth of the artisans’ community.”
Speaking on the campaign, Srreram Athray, Group Creative Director, Ogilvy said, "As Rangana's designs are all inspired by traditional Indian art, we came up with a simple idea to make that connection. And we threw in a bit of entertainment too”.
The campaign will be promoted across various digital platforms, OOH, retail branding and in-cinema video ad promotions.
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.
