Cheap Wi-Fi connection to MPs contributing to BSNL, MTNL losses
Posted on 26th July 2019 |
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| State-owned telecom companies are incurring losses in providing high-speed Wi-Fi connections to members of Parliament, Union Minister for Communications and Electronics and Information Technology Ravi Shankar Prasad said. As per data available with the Telecom Ministry till May 2019, Mahanagar Telephone Nigam Limited (MTNL) and Bharat Sanchar Nigam Limited (BSNL) have provided an aggregate of 757 Internet connections to members of Parliament. All connections are high-speed Wi-Fi Fibre to the Home (FTTH) connections. The MTNL alone has provided 728 of these connections. According to the MTNL, on each Wi-Fi connection (ranging from three to six numbers) provided to MPs during 2015-16, it incurred an average cost of ₹1.7 lakh, including annual maintenance charges for four years after three years warranty. But the charges levied upon individual MPs for each Wi-Fi connection was ₹1,500 per month, excluding GST. The BSNL said each FTTH connection to MPs cost the company ₹25,000, but it could charge them only ₹2,200 per month, exclusive of GST for the services. While the MTNL offers speeds of 100 Mbps up to 500 GB and 10 Mbps thereafter, the BSNL offers connections at a speed of 10 Mbps. The two corporations have received a cumulative number of 1,054 complaints in the last two years. |
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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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