The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
The Reserve Bank of India's action against Reliance Capital comes at a time when the Anil Ambani group was planning to make a comeback with the group company, Reliance Infrastructure, raising funds from the promoter family. As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family. A month earlier, Reliance Power, a listed subsidiary of Reliance Infrastructure, also raised funds from its parent by issuing preferential allotment of shares thus increasing the stake of Reliance Infrastructure in the company.
The government on Friday unveiled long awaited Unified Licence norms that provide for delinking of spectrum from operational permits and allows companies to offer services using any technology.
Idea may have to shell out Rs 4,500 crore in cash
India's telecom subscriber base grew to over 1.17 billion in October with Bharti Airtel maintaining its leadership in mobile subscriber addition that accounts for over 98 per cent of total connections in the country, according to the monthly report released by sector regulator Trai on Wednesday. This is the second consecutive month when Airtel added highest number of subscribers. In September, it had regained the leadership position in subscriber addition after a gap of four years. The Sunil Bharti Mittal-led company added 3.67 million new customers in October, taking its total wireless customer base to 330.28 million in October 2020, the Telecom Regulatory Authority of India's (Trai) report said.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
Smartphones are powered with free unlimited Internet browsing for a year.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
Most of the steep rate cuts announced might also not translate into bill savings for subscribers
RIL has signed an infrastructure sharing agreement with Reliance Communications (RCom, of the Dhirubhai Ambani group) to launch its services.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Even as lenders are getting ready to send more companies to bankruptcy courts from this week, several old cases are still awaiting resolution with no clarity on the completion of the process. This includes some high profile cases from the first list of 40 companies including Videocon Industries, Bhushan Power and Steel and Lavasa Corporation, sent by the Reserve Bank of India (RBI) for resolution. The delay is mainly due to litigation and late clarifications by various government agencies including the Reserve Bank of India and litigation by the Enforcement Directorate.
Bank of America Merrill Lynch and JP Morgan are bankers for the bonds
If completed, the 50-50 joint venture would value Reliance Communications' cable assets at $1 billion, the newspaper said, adding Citic Telecom beat out two other bidders from West Asia earlier this month.
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
Facebook on Thursday announced that it has shut down Free Basics in India.
Need for much more investment; sector would like govt help
The finance ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans.
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
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.
If completed, the move would create a 50-50 joint venture valuing Reliance Communications' cable assets at $1 billion.
He supervised and handled several major big ticket insolvency cases that includes Essar Steel, Bhushan Power & Steel, Bhushan Steel, Jaypee Infratech, ElectroSteel Steel, Binani Cement, Reliance Communications.
When it comes to the number of phone bill disputes, Vodafone, Idea Cellular, BSNL and Aircel were high on the list in several service areas during the quarter ended June.
Bharti Airtel, Vodafone, Reliance Jio Infocomm and five other telecom firms will battle it out at the spectrum auction tomorrow, from which the government expects to garner at least Rs 11,300 crore (Rs 113 billion).
MoD dismissed the report saying it draws 'conjectural connection between tax exemption to a private company and procurement of Rafale jets'.
The unit of Reliance Communications may raise debt, equity
Airtel, Vodafone, Idea, RCom, Reliance Jiosubmitted applications.
Idea, the country's sixth-largest mobile operator was the biggest gainer in the first eight days of mobile number portability (MNP) being launched across the country.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Reliance 3G Tab comes with a 7-inch capacitive touch screen with Android 2.3 OS and a high speed processor of 1.4GHz.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources. This round of auction will be held for 2,251.25 Megahertz (MHz) in seven frequency bands -- 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz 2100 Mhz, 2300 Mhz and 2500 Mhz -- at a cumulative base price of Rs 3.92 lakh crore. "Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications (for the spectrum auction)," an official source told PTI.
Mobile phone service providers alone jointly reported gross revenue of Rs 55,164.18 crore (RS 551.64 billion).
This puts an end to Facebook's Free Basics and Airtel's zero rating plans in India.
This will be in line with government's vision of Digital India.
Bharti Airtel made part payment of Rs 4,725 crore.
The interconnection charge has been reduced.
Voice calling will be free on Jio phones for life and post December 31, 10 data plans will be offered
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
