MAM
Uber India appoints Manisha Lath Gupta as head of marketing
MUMBAI: Uber India has announced the appointment of Manisha Lath Gupta as the head of marketing for India. She will take over from Sanjay Gupta, who will soon move to Uber US and Canada in a new role. This announcement follows the recent appointment of Pavan Vaish as the head of central operations.
Manisha Lath Gupta will oversee marketing initiatives for rides and eats business for India South Asia. A seasoned marketer, entrepreneur and leader, she comes with over 20 years of experience across consumer goods, banking, ecommerce, and fintech. Over the course of her career, she has conceptualised and executed brand campaigns, driven digital performance and has run a successful start-up.
Uber India and South Asia president Pradeep Parameswaran commented on the new appointment, “In line with Uber’s India growth strategy, we continue to build and strengthen a team of industry experts who appreciate the impact of ridesharing and drive innovation for a better tomorrow. We are delighted to have Manisha join us as Uber’s marketing head. We would also like to thank Sanjay for being a thought partner and for helping build a strong, diverse and engaged marketing team. His movement to the US & Canada team underlines India’s position as a talent exporter and we wish him the best for his new role.”
Manisha Lath Gupta, said, “I am extremely thrilled to be part of Uber’s India journey as it continues to transform mobility and make meaningful impact. I look forward to develop deeper brand engagement and add innovative solutions to the marketing mix.”
Gupta started her career with Unilever in India, where she spent close to eight years (1997-2004) and another six years (2004-2010) across two different roles at Colgate Palmolive. Later, she successfully transitioned to the banking industry as the EVP & chief marketing officer at Axis Bank.
She turned full-time entrepreneur in 2014, with her start-up venture IndianArtCollectors.com, an e-commerce portal for original Indian contemporary art, which she had founded in 2005 as a moonlighting venture and was acquired by NDTV in 2015.
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.
