MAM
Wing Communications wins PR mandate of Xiphias Immigration
Mumbai: PR agency Wing Communications, which offers strategic and integrated communications, announced that it has won the communications mandate for Bangalore-based consultancy Xiphias Immigration, which provides innovative solutions to meet the immigration needs of its clients.
Xiphias Immigration offers services including investment immigration, corporate and skilled migration, and study abroad. Wing Communications will cater to the brand’s strategic PR, media relations, corporate PR, and reputation management requirements across India through perceptive campaigns.
Xiphias Immigration MD Varun Singh commented, “Wing Communications is a group of contemporary innovators who venture beyond the obvious. It is a great partner to lead our communications because of their proven credentials, diverse expertise across industries, and ethics and values to undertake the business sincerely. We look forward to enhancing our communication and perceptibility percentage in the immigration realm with the help of the Wing’s team, which is seamlessly networked across the nation as well as internationally and has exceptional industry stewardship and expertise in expressing a company’s worth while connecting them to tangible results.”
Wing Communications CEO and co-founder Shiva Bhavani said, “Xiphias is an immigration consultancy that is breaking new ground in the field of immigration in India with its cutting-edge solutions to address the immigration needs of its clients and strong relationships in popular immigration destinations across the world. We are extremely proud and excited to be associated with this new-age consultancy and handle its PR and communication strategies.”
He added, “To be a partner with this transformational brand that works on the foundations of integrity, honesty, professionalism, collaboration, and accountability will be a privilege for Wing Communications. Our goal is to facilitate and fervently meet their communication objectives, press coverage opportunities, and brand image-related expectations by leveraging the best of our skills and expertise. We will eagerly anticipate and execute the required responsibilities to assist the brand in expanding its online presence and in its quest for speedy growth.”
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.
