Brands
Titan ticks the moments that matter this Diwali
MUMBAI: Titan, India’s leading watchmaker, has launched a heartwarming festive campaign that captures the essence of what truly matters, spending time with loved ones. Titled A Promise of Time, the film celebrates the quiet magic of shared moments, showing that the most precious gifts aren’t wrapped in boxes but lived in memory.
Set against the familiar glow and excitement of Diwali, the film follows two siblings rediscovering the joy of togetherness. As lights twinkle and festivities unfold, their unspoken emotions and deep bonds take centre stage, ending on Titan’s iconic melody, a note that lingers like nostalgia itself. The narrative beautifully reinforces the idea that gifting a Titan watch is not about measuring time, but cherishing it.
Titan Watches marketing head Aparna Ravi said, “With this campaign, we wanted to celebrate meaningful gifting and remind people that when you give a Titan, you are giving more than a watch, you are promising time together. Utsav by Titan expresses that promise, saying, ‘I am here, I value you, and these moments we share matter.’”
Ogilvy South executive creative director Aarti Nichlani added, “Titan has always told stories that speak to the heart. A Promise of Time encourages people to pause from their busy lives and make time for those who matter most, not just on Diwali, but every day. A Titan watch is the perfect symbol of that promise.”
As homes across India light up, Titan invites everyone to pause, reconnect, and celebrate the gift of shared time. This festive season, a Titan is more than a watch, it is a reminder to treasure every moment spent with those who matter most.
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.
