DoT to hear Airtel, Idea, Vodafone pleas against Trai's Rs 3,050-cr penalty Posted on 5th December 2017 |
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| The department of telecommunications (DoT) would soon hear the pleas filed by leading telecom service providers Bharti Airtel, Idea Cellular and Vodafone India against the Telecom Regulatory Authority of India’s (Trai's) recommendation of October last year that a Rs 3,050-crore cumulative penalty be imposed on them for allegedly denying sufficient points of interconnection (PoIs) to Reliance Jio Infocomm, according to a news report in Livemint. The telecom department had asked the operators to make their presentation by December 6. However, Bharti Airtel and Idea Cellular have raised a request to defer the meeting and Vodafone has not yet responded, according ot a senior DoT official quoted in the Livemint report. In a complaint to Trai last year, Reliance Jio had alleged that a large number of calls on its network were failing as incumbent operators were not providing sufficient points of interconnection. Based on this complaint, Trai had in October last year recommended to the government that a penalty of Rs 1,050 crore each be imposed on Airtel and Vodafone, and Rs 950 crore on Idea. In February, the Telecom Commission -- the highest decision-making body at DoT -- sought clarifications from the regulator about the basis for calculating the penalty and provisions of the law under which the penalty had been recommended.
In response, Trai had in May this year defended its stand and stated that the licence agreement mandated that the licensee has to be responsible for maintaining quality of service as mandated by the licenser or Trai, and any violation is liable to be treated as breach of terms and conditions of the licence. Trai also mentioned that while non-compliance of terms and conditions of the licence warranted the revocation of the licence, Trai recommended a penalty as a revocation of licence would cause inconvenience to consumers. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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