Don’t mind the pretentiousness of the photo.
I’m not entirely sure when the watch was made. The seller’s description said 1960s, but I’m hesitant to believe that there would be watches in production with the NKVD logo 20+ years after its dissolution.
Anyway, the watch face has cryllic letters spelling out “Lenin” and “Stalin”, with the NKVD hammer + sickle logo w/sword for the 12 o’clock hour.
The USSR had planned to make watches earlier in its history, but the outbreak of WWII slowed their plans down. The name “Pobeda” stands for Victory, and was the name chosen by Stalin himself to commemorate their success in the Great Patriotic War. I believe many of these watches were also given to workers as commemorative prizes for exemplary behavior.