MAM
VLCC starts manufacturing hand sanitizers to support mitigation of COVID-19 crisis
MUMBAI: VLCC Personal Care Ltd. today announced the commencement of production of hand sanitizers at its GMP certified manufacturing facility in Haridwar (Uttarakhand) – one of its two such plants in India – to support mitigation of the severe health crisis caused by the COVID-19 outbreak and to meet the sudden spike in demand for hygiene products.
Announcing this today, Mr. Jayant Khosla, Managing Director & Group Head, VLCC, said "We have decided to manufacture and distribute hand sanitizers as our humble contribution to the collective national effort of tackling the COVID-19 crisis and have accordingly diverted a part of our manufacturing capacity to produce them. The pricing of the product will be in keeping with the latest statutory regulations for all pack sizes”.
The company is ensuring that these products, in 50 ml and 500 ml pack sizes, with retail price of INR 25/- and INR 250/- respectively, reach pharmacies and general stores throughout India immediately, to cater to the surge in demand. VLCC hand sanitizers are now also available at all VLCC Wellness centers, on its on-line platform, www.vlccpersonalcare.com, as well as on e-shopping websites like Amazon, Flipkart, Snapdeal and Nykaa.
The advanced formula of the VLCC Hand Sanitizer contains a combination of spirit and Isopropyl Alcohol (IPA) which is proven to kill 99.9% germs and bacteria. Further, to protect the skin and prevent it from drying, it is infused with tea tree oil, rosemary oil and aloe vera extract. The product is in gel form and can be applied on the palms and then rubbed gently to layer the protection on all parts of the hands up to the wrists.
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.
