The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
The RBI's mistake may have been in interpreting its mandate to maintain retail inflation at 4%, with 2% leeway in either direction, as being a mandate that permitted it to do nothing even when inflation was at or near the upper bound of 6%, observes T N Ninan.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Winners of recently held 2G spectrum auction will have to make payment, either in full or at least 33 per cent of the due amount, by December 1, the Department of Telecom said on Thursday.
... and I learn more about economic trends than from books, says Ajit Balakrishnan.
The government is learnt to be preparing fresh plans to auction telecom spectrum that can fetch around Rs 39,895 crore.
Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed. The IPO is India's biggest since March 2020. Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
Star Health and Allied Insurance's Rs 7,250-crore initial public offering (IPO), the third largest this year and eighth largest ever, just about managed to make it despite a poor response from investors, garnering just 79 per cent subscription, forcing the investment bankers to prune offer for sale (OFS) component. This is the second large offering after digital payments major Paytm this year to receive a lukewarm response from investors, a sign that despite the IPO frenzy investors are discerning when it comes to pricing. As Star Health didn't meet the profitability criteria, its IPO required a mandatory 75 per cent subscription from qualified institutional buyers (QIB).
But Trump is about to announce his candidacy for president in 2024. And it is not clear if Florida Governor Ron DeSantis, the present hero of disenchanted Republicans, or Biden, who says he might seek re-election (but will decide in 2023), can checkmate Trump, notes Shreekant Sambrani.
The auction will help operators augment expansion of high-speed 4G voice and data services in the world's second largest mobile phone market.
Extended rounds of negotiations having failed, farm leaders now reckon that their best chance to pressure the government lay in defeating the BJP in the coming assembly poll, particularly in UP, observes Virendra Kapoor.
In return, BSNL should be allotted 1.2 MHz in the 1800-MHz band in each circle, subject to some conditions.
India is one of the fastest-growing countries in the plastic money segment, with close to 350 million debit cards and 19 million credit cards in circulation.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Titan is investing heavily on research and development, which will do things beyond a smart watch can do today such as switching off lights, locking, and unlocking doors and making payments. Titan is also working closely with start-ups, too, to develop such futuristic features.
Airlines are slashing salaries and re-negotiating vendor contracts as drastic fall in passengers has hurt revenue. Go First has cut staff salaries by around 16 per cent while IndiGo and SpiceJet are enforcing a leave without pay (LWP) policy and pay by the hour structure respectively to prune expenses. Vistara, which reversed pay cuts for junior staff including managers and cabin crew in March, is not touching employee salaries at the moment and instead focusing on vendor renegotiation and maximising cargo revenue. An Air India executive said efforts are on to pay salaries by 7th or 8th of June.
Falls way short of the Rs 40,000-cr target for the year Bharti makes upfront payment Vodafone, Telewings go for deferred scheme
Global credit rating agency Fitch upgraded outlook for the Indian telecom sector from 'negative' to 'stable'.
'A score of 750 and above is considered to be good, though these cut-offs can vary depending on the type of loan being sanctioned,' points out Arun Ramamurthy.
The third round of spectrum auction continued to witness aggressive bidding even after completion of seventeen rounds on Wednesday with demands for both bands of airwaves on offer continuing to pour in.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
The Reserve Bank of India (RBI) on Friday kept the key repo rate unchanged at 4 per cent in view of rising inflation and faint signs of economic growth amid the gradual lifting of coronavirus related countrywide lockdown.
The protesting Indian women's hockey players finally received their financial dues from the Sport Ministry in Bhopal on Friday.
E-wedding planners allow you to book everything online, including venues, make-up artists, bands, florists.
The sharing agreement will provide more bandwidth for RJIL to provide its high-speed 4G services.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
Telecom companies put in bids worth a total of about Rs 45,000 crore (Rs 450 billion) on the second day of the auction on Tuesday, with premium 900 Mhz band in Delhi, Mumbai and Kolkata witnessing continuing demand.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
The Securities and Exchange Board of India (Sebi) is expected to take two decisions simultaneously in July. The first is to introduce a shorter time-frame between the closure of an IPO for subscription and its listing. The second is asking all classes of investors, including qualified institutional buyers (QIBs), to make full payment while applying for an IPO.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Rationalisation of reserve prices in the ongoing spectrum auction helped the government to get Rs 40,000 crore of bids on the opening day.
The bidding for four spectrum bands is scheduled to start from March 4.
Raghuram Rajan said the head of the central bank should have a fixed tenure of more than three years as the current term was too short.
Eight telecom companies, including Bharti Airtel, Vodafone and Idea Cellular, the biggest three in the country, bid a combined Rs 61,162 crore (Rs 611.62 billion) in the spectrum auction held earlier this month.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
The first new product to be developed and introduced under Chief Executive Officer Tim Cook's reign is a wearable device
