DoT opposes the auction of 2G spectrum as anti-consumer and warns PMO that such a move can result in monopolising of mobile services in India.
The Anil Ambani group has already readied a war chest for the new initiative.
The Reserve Bank of India has finally cleared the long-pending transfer of Thailand-based Surachan Chawla's 38 per cent stake in Catholic Syrian Bank.
Company targets sale of one million handsets a year.
Reserve Bank of India set to bring transparency in credit card operations.
Companies hit by the sudden appreciation of foreign currencies such as Swiss franc and yen are finding it difficult to restructure their currency options as banks have become cautious in extending fresh credit limits to them.
These measures, under preliminary discussion with the central bank, come soon after Hexaware Technologies, an IT services company, recently said it was providing Rs 80-100 crore due to losses allegedly on account of foreign exchange transactions fradulently entered into by one of its officials with banks.
In a move that will result in further snowballing of the spectrum issue, British telecom major Vodafone has termed the Reliance Communications' (RCom) allegations "as false and inconsistent with the facts".
The move by three major telecom service providers - Bharti Airtel, Vodafone Essar and Idea Cellular - to set up a consortium for passive infrastructure is gaining ground, but independent telecom infrastructure providers are yet to be convinced.
The Telecom Regulatory Authority of India has authorised service providers to either penalise errant telemarketers with a fine of Rs 500 per unsolicited call or disconnect their lines following subscriber complaints.
Reliance Communications chairman Anil Ambani has proposed that the government should make it mandatory for telecom service providers to surrender additional spectrum that they are not utilising. Putting his proposal into practice, Ambani has also conveyed his willingness to surrender the extra 1.8 MHz spectrum that his group has in the Bihar circle.
Upping the ante in the ongoing spectrum war, Reliance Communications chairman Anil Ambani has shot off a missive to the Department of Telecommunications (DoT), accusing GSM operators of having cornered spectrum under the valuable 900 MHz.
Chennai-based Indowind Energy is in advanced stages of negotiations to acquire a wind energy company in Europe for an estimated price of around $100 million (Rs 400 crore). The acquisition, if successful, will help the wind energy and farming company to expand its footprint both in domestic and global markets.
Vodafone-Essar, the leading GSM operator is raising around $500 million (Rs 2,000 crore) through overseas borrowing. This is the first fund raising by the telecom major after British telecom major Vodafone acquired a majority stake.
The entertainment industry is not amused by her activities, neither is the IT sector since it has given rise to a new breed of e-criminals (piracy is a crime according to the Indian Cyber Act 2000). Moreover, system administrators abhor her existence since her downloading clogs their corporate networks, weakens their firewalls besides disseminating unregulated content.
RBI, govt concerned over inflationary impact of rising capital inflows.
Reliance Power's exemption demands prompt move.
According to sources close to the development, the IPO will provide an easy exit route to the banks and FIs to bring down their respective stakeholding to 5 per cent as required under the new demutualisation guidelines of the Securities and Exchange Board of India (Sebi).
In August this year, ABN Amro Bank decided to renew the lease for its 3,100 sq ft office space at Nariman Point's Sakhar Bhavan, but the landlord dropped a bomshell by jacking up the rental to Rs 500 per sq ft.
According to sources close to the development, major domestic banks and institutions such as State Bank of India (SBI), Bank of India (BoI) and Life Insurance Corporation (LIC) have sought the permission of their respective regulators - the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority (Irda) to participate in the equity derivatives market (F&O segment) as traders.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances