Telecom operators stressed that differential pricing for data is necessary for growth.
The service provider has to ensure that outsourcing arrangement to an agency does not absolve them of their responsibility to fulfil their obligation to consumers and it should not affect the rights of consumers against service provider, Trai said. All companies should set up a formal code of conduct for outsourced agency and its employees or agents for collection of outstanding dues from customers.
New regime places more limits on unregulated foreign entities
Telecom Regulatory Authority of India is likely to finalise its recommendations on unified licensing regime in about one month.
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.
Under the guidelines, life and non-life insurance companies can come together to offer this health-plus-life cover. Health insurance under this scheme will provide sickness benefits, medical, surgical or hospital expenses benefits, whether in-patient or out-patient, on an indemnity or reimbursement basis and the life insurer will offer a pure term product.
'The banks cannot pass on the hike in premiums to its customers, according to the norms. The premium won't go up substantially in any case and may be hiked to 12-13 paise (per deposit of Rs 100 a year),' Finance Secretary Rajiv Kumar said.
Markets regulator Securities and Exchange Board of India (Sebi) is examining allegations of front-running and other irregularities against a host of domestic fund managers across the asset management industry, said people in the know. Developments at Axis Mutual Fund have prompted the regulator to speed up probe to ensure that there is no drop in confidence in the Rs 39-trillion mutual fund (MF) industry. "We have received complaints against a few fund managers and are looking into possible violations, including those related to code of conduct," said a regulatory source, refusing to divulge names of fund houses as things are at a preliminary stage.
The Financial Sector Legislative Reforms Commission, chaired by Justice B N Srikrishna, has suggested a non-sectoral, principle-based approach to revamp the existing framework.
Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
'They have helped stabilise our market by acting as a counterbalance to foreign funds.'
With over 135 news channels, about a third owned by politicians and real estate guys, the news TV market is a nightmare, says Vanita Kohli-Khandekar.
The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to "Frauds - Classification and Reporting". A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank. In a statement, the RBI said the statutory Inspection for Supervisory Evaluation (lSE) of Bank of India was conducted with reference to its financial position as on March 31, 2019.
Addressing a press briefing, Union Health Secretary Rajesh Bhushan said healthcare workers and frontline workers need not register themselves as their database has been populated on to the Co-WIN vaccine delivery management system in a bulk manner.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
MSI sells a range of models from entry-level hatchback Alto to S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 (ex-showroom prices Delhi) lakh, respectively.
The new rules of the Insurance Regulatory and Development Authority take effect from September 1.
Hari Narayan said the proposed IPO guidelines for non-life insurance firms were in the process of finalisation before they were sent to SCADA, a body constituted by Securities and Exchange Board of India, for approval followed by a final approval from the market regulator.
The minister said that as committed earlier, the 3G spectrum would be distributed to all successful bidders on September 1 for launching services on commercial basis.
The discount should be equal to interest rates on savings bank account deposit of State Bank of India.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
'Lifestyle, peer pressure, lure of extra pocket money and many other factors are responsible why youth are taking drugs.'
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
Obama used his executive power to announce a series of administrative measures to provide legal status to over five million illegal immigrants in the country, including those from India.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Sector regulator Trai on Tuesday directed telecom operators to "immediately" enable port out SMS facility for all mobile users requiring it, irrespective of value of their tariff offer, vouchers, or plans they have opted for. Trai's stern missive on smooth network portability, assumes significance as Reliance Jio had recently written to the regulator complaining that the new tariff structure of Vodafone Idea (VIL) allegedly restricts entry-level customers to port out their mobile number from its network. Telecom Regulatory Authority of India (TRAI) has taken a strong note of telecom service companies not providing outgoing SMS facility in certain prepaid vouchers.
An NBFC must actively manage its collateral positions, differentiating between encumbered and unencumbered assets, and monitor such assets so that they can be mobilised in a timely manner, central bank says in circular.
The action is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI said.
Units employing up to 49 workers are not required to list themselves with the government.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
Restructured debt from Indian power distributors lures investors
Market regulator Sebi on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms. The announcement comes after the tax haven was put on the "grey list" of Financial Action Task Force (FATF) -- an inter-governmental policy making body that sets anti-money laundering standards.
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
commercial airlines and air navigation service providers have to carry out random drug tests on at least 10 per cent of their flight crew and air traffic controllers every year.
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