Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
At the 45th Annual General Meeting of Reliance Industries (RIL) in August, chairman and managing director (CMD) Mukesh Ambani described the company as an "unputdownable book" with never-ending chapters of success. "Reliance grew from strength to strength because we internalised the founder's mindset of purpose, philosophy and passion," he said. Wednesday marked the 90th birth anniversary of RIL founder Dhirubhai Ambani.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
After initial success, data use is stagnating and getting consumers to spend additional money for high-speed internet is proving to be difficult for telcos.
India can attract significant FDI, says experts.
The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access spectrum holders like RJIL.
The event, organised by Deutsche Messe AG, is held each year at the Hanover fairground, the world's largest, in Hanover, Germany.
The smartphone is priced at Rs 9,199.
'The government is unwilling or unable to provide the kind of relief that Vodafone India is asking for.'
Ajay Piramal bets highly on infrastructure, realty
BS Annual Awards 2014: Power-packed jury picks the best 7 of corporate India
While in all, 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges, it is not immediately clear just how much of that has been sought by the government by midnight.
Mukesh Ambani-led Reliance Jio has introduced a 20-per cent cashback offer on select prepaid plans, intensifying competition in the Indian telecommunications (telecom) market. Jio is the largest telecom service provider in India, with 443 million subscribers as of July. Jio's cashback offer will drive cross-selling across Reliance's various retail businesses, but the move is also being seen by some analysts as a signal that tariff hikes may not be around the corner just yet.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
Many argue that the airline could achieve its full potential if Nusli Wadia were to run it the way he does Britannia.
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
Experts say going ahead data price will fall further due to competition
Companies have activated a comprehensive pandemic response plan with requisite risk mitigation protocols for keeping networks working as telecom is an essential service.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
Triggering a tariff war, Idea Cellular on Thursday slashed data charges by 90 per cent in eight circles, following Bharti Airtel and Vodafone, who recently cut their rates by similar margins in select circles.
Half a dozen names are doing the rounds as replacement for Cyrus Mistry as the chairman of the Tata Group.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
Jio's global partnerships took shape this year when Jio Platforms, a 100 per cent subsidiary of Reliance Jio which has invested in various digital platforms, was able to woo a bevy of marquee investors: Facebook, Google, Qualcomm, Intel, and a numerous PE funds.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
Govt likely to make security clearance mandatory for telcos irrespective of equity holding before giving licences; DoT members to meet today.
CBDT circular issued last month had raised multiple taxation concerns.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
Many chief executives said they were talking to people at the top level in their organisations to find how their companies can help the flood victims.
India's third largest telecom operator Idea Cellular joined the data tariff war by slashing 2G mobile internet rates by 90 per cent and 3G tariffs by 30 per cent for six months from November 15.
According to rating agency Fitch, India can in the long run support five-six profitable telecom operators.
From spending a little less than three hours on making voice calls, Indians are spending well over 5 hours. So, while people make more calls, they are spending less than ever, reports Romita Majumdar.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
It is learnt that the defence ministry is refusing to let go of its 100 MHz spectrum, which was allotted earlier. In that case, the department of telecommunications (DoT) will be left with only 175 MW of 5G spectrum of the total 300 MHz.
The profit boost for studios will in large part be driven by the rush for local-language content from platforms like Netflix Inc
Experts explain the distinction between the rights of small and minority shareholders in public-listed and private companies.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
Kataria, 49, an IIT-XLRI alumnus, was quick to implement a number of initiatives during the Covid-19 crisis including launching D2C initiatives such as mobile stores, WhatsApp messaging, video calling and home deliveries. Kataria was also swift to recognise that stay-at-home consumers were keen to buy informal rather than formal footwear, launching new collections quickly to take advantage of this trend, says Viveat Susan Pinto.
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