The Telecom Regulatory Authority of India (Trai) on Wednesday told operators Etisalat DB and STel to continue offering services till June 2, the limit specified by the Supreme Court for expiry of their licences.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
Telecom regulator Trai on Thursday said there will not be much impact on customers due to cancellation of 122 2G licenses of eight companies, as around 95 per cent of total subscribers belong to operators which got licences before January 2008.
Company says it has been the victim of a 'mischievous' campaign by rivals.
Vodafone's operating loss from India business jumped to 692 million euros in April-September from 133 million euros in the same period last year.
The Indian Council of Medical Research will start national-level sero surveys to assess the spread of Covid-19 and all states/Union territories should also be encouraged to conduct them so that information from all geographies can be collected, the Union health ministry said on Friday.
The year 2013 saw the Reserve Bank of India nudge banks to not only improve customer services and reduce bad loans but also look at plugging loopholes in the regulatory system ahead of the entry of new banks.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Weak balance sheets due to hefty outgo of funds for new licences will reflect negatively on the 2013 outlook for the sector.
State Ayurved Department's licence officer Y S Rawat said the notice is being issued to the firm to explain from where it got the permission to launch a 'corona kit' as a cure from the virus.
The Court deserves to be complimented for its verdict and indeed for doing what the government should have done long ago.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
Vodafone's brass, including chief executive officer Vittorio Colao, told investors roaming policy was applicable to its 3G licences, in spite of claims that it was not.
Move to ensure deals do not hit govt licence fees, revenue share.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
However, this rule will not be applicable to companies holding licences for a period of three years, even if they acquire licences in other circles to expand their operations, according to sources close to the development. The suggestion was made by the DoT to the Telecom Regulatory Authority of India, which will decide on making it a regulation, along with other suggestions on the lock-in period put forward by the licensor.
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
The department for promotion of industry and internal trade has rejected Walmart-backed Flipkart's proposal seeking approval for entry to the food retail sector, citing a regulatory issue, an official said on Monday. The government permits 100 per cent foreign direct investment in food retail for food produced and manufactured in India.
Bharti Airtel, Reliance Jio, Vodafone Idea said the Railways should not be permitted to offer commercial services like Wi-fi and voice and video communication.
Meanwhile, new players like Etisalat, Unitech Wireless, Loop, STel and Sistema Shyam Teleservices -- who got the spectrum (radio waves) in 2008 -- paid Rs 80.78 crore (Rs 807.8 million) in spectrum charges and licence fees to the government.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Initial fears of Internet access charges rising by 6-12 per cent following the Telecom Regulatory Authority of India recommendations to impose an annual licence fee for Internet Service Providers appear to be unfounded.
Internet services are likely to get more expensive.
Currently, ISPs pay only Re 1 as annual licence fee while Internet telecom service providers, or telecom operators providing Internet services, pay 6 per cent of their annual gross revenue as licence fee.
Pakistan's electronic media regulator has suspended the licence of US-based Nickelodeon channel for airing cartoons dubbed in Hindi, days after it decided to enforce a complete ban on Indian TV and radio contents amid Indo-Pak tensions.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
For years it has been evident that fibre and DTH would give tough competition to cable in India where regulatory overload has mutilated an already warped industry structure. OTT added fuel to the fire. From Rs 27,000 crore in 2010, cable's share of subscription revenues is now estimated at Rs 13,000 crore.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
Vodafone had contended in its plea that DoT instead of signing and executing the ULs had at the last moment informed them that their request for deletion of 'restrictive' clauses in licence pertaining to roaming cannot be accepted.
The department of telecommunication has decided that the existing variable licence fee structure for telecom operators should be replaced with a uniform one. An departmental note suggests a uniform licence fee of 8.5 per cent for all types of services.
Trai has asked the department of telecommunication to 'keep in abeyance' the grant of new 2G (mobile) licences till the watchdog finalises its recommendations.
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing. Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India. In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, "The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement."
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
WHO says the regulatory procedures in place for the licencing of pandemic vaccines, including procedures for expediting regulatory approval, are rigorous and do not compromise safety or quality.
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
The regulatory system in India has become a farce, and needs to be either scrapped, or thoroughly revamped. The way the law has been formulated, Trai is a toothless tiger -- it works well if the ministry chooses to be gentlemanly and takes the recommendations seriously; if the ministry chooses to assert its authority, there's little Trai can do, says Sunil Jain.
An expert panel of India's Central Drug Authority on Tuesday recommended granting permission to Serum Institute of India (SII) for conducting phase 2/3 trials of Covid vaccine Covovax on children aged 2 to 17 years with certain conditions, official sources said.
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