I want all telcos to flourish, says FM Nirmala Sitharaman
"I want no company to shut operations. I want everyone to be up and running," the finance minister said.
CDSL Q3 profit drops 24%, income rises 10%
CDSL said it has taken a one-time charge for a non-recurring previous years' anticipated statutory...
Bharti Airtel gains 2% on receiving DoT nod for hiking FDI limit
It has received approval for increasing FDI limit in the company to 100% fro...
DoT examining if January 23 legal deadline for AGR payment applies to non-telecom PSUs
Telcos Airtel and Vodafone Idea are legally bound to comply with the payment timelines stipulated by the SC.
Telecom dues: Curative petitions rarely admitted, say analysts
The top court dismissed review petitions filed by telcos against its October 24, 2019 order that asked for inclusion of non-telecom revenues for calculating AGR. Dues, which total to Rs 1.47 lakh crore for 15 telecom companies including Airtel and Vodafone Idea Ltd (VIL), as per the October order, have to be paid by January 23.
Nokia, Ericsson, ZTE, UTStarcom receive part of their outstanding from BSNL
BSNL has paid the outstanding dues worth Rs 150 crore each to Nokia and ZTE, according to a source. BSNL is also set to release Rs 22 crore to Swedish Ericsson and Rs 50 crore to UTStarcom through circle offices towards supplies for the Phase-V GSM expansion initiative.
Relief to telecom sector: Cabinet gives nod to a two-year moratorium on spectrum payments
The deferred amounts to be paid by telcos will be without increase in the time period, the FM said.
New group insurance norms set to promote fair practices
The Insurance Regulatory and Development Authority has said that group insurance schemes should show collection of premium, issue of certificate of insurance and reimbursement of expenses. Also, interest rates declared under group savings products should be in such a way that there is no discrimination among identical policyholders on fund size.
Telecom majors post Rs 1 lakh crore loss in Q2; shares still rally up to 21% on hopes of govt aid
Telecom major Vodafone and Airtel extended their gains to the second straight session on Monday.
Bharti Airtel plans share issue first, bonds later to raise funds for AGR
The primary aim of private placement before tapping global debt markets; firm also looking at taking advantage of negative rates in Europe. The company is in talks with at least half a dozen foreign banks including BNP, Citibank, HSBC, Standard Chartered, Bank of America and JP Morgan.
Trai to wait for telcos to report revised pricing, details before taking view: Sources
Vodafone Idea and Bharti Airtel, the two large telecom operators, last week had reported a combined loss of Rs 74,000 crore for the second quarter ended September 2019, mainly on account of statutory dues arising from the recent Supreme Court order on adjusted gross revenue (AGR).
Bharti Airtel to gain at cost of Vodafone Idea, say brokerages
The two firms have been lobbying together with the government for relief on payment of the statutory liabilities.
Deferment of spectrum payment to provide headroom to telecom sector: India Inc
The government doled out a Rs 42,000 crore relief to debt-laden teleos after it agreed not to take any payments for spectrum they use for the next two years. The Union Cabinet headed by PM Modi approved giving Airtel, Voda-Idea and Reliance Jio an option to avail a two-year moratorium on payments they were supposed to make in yearly installments.
Grant 3-year moratorium, extended timelines for payment of all dues: COAI to govt
COAI DG Rajan Mathews told that operators need "oxygen" and urged the govt to take a call on debt restructuring of all the dues that telecom operators owe to the govt. He said most 4G licences have 11-year validity left, and that the govt could pack in another 10 years, thus allowing operators to pay back all the outstanding dues spread over the entire licence period.
Telecom industry to consolidate further in 'no relief' scenario: Kotak Institutional
A 'no material relief' scenario would be an industry-structure-altering one.
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