The department of telecommunication’s (DoT’s), in a notice inviting applications (NIA), on Wednesday said that direct allocation of spectrum to the Big Tech companies for building their private networks will follow a demand study and sector regulator Trai’s recommendation on aspects such as pricing and modalities of such allocation. Big Tech companies like Google have […]
Home buyers of stressed realty projects may be governed by a separate regulatory framework if a proposal put forward by the insolvency regulator for public comments is approved. The Insolvency and Bankruptcy Code (IBC) was amended in 2018 to clarify the status of home buyers as financial creditors. However, a large number of real estate […]
The government on Monday said the larger award of $3.85 billion plus interest by the arbitral tribunal regarding the production sharing contract for Panna-Mukta and Tapti fields was in its favour and that this was being pursued through the execution petition filed before the Delhi High Court. It also said it retained the right to […]
Piramal Group, a serious contender to acquire debt-laden Reliance Capital’s (RCap) assets, is willing to reduce its stake in competing insurance firms to comply with the country’s insurance sector regulations. The group has already informed the same to the Insurance Regulatory Authority of India (IRDAI), which had earlier raised concerns over its holding in two […]
Thyssenkrupp Industries India (TKII), an industrial plants and systems company, is looking at a 2x growth in its revenues in the next couple of years. After doubling revenues in the last four years from Rs 1,200 crore to Rs 2,500 crore at present, the company expects the growth trajectory to continue this year. The company […]
Around 76% consumers who own air conditioners do not get them serviced by manufacturer/company due to high cost, complicated contact process and time constraints, according to a finding by LocalCircles. According to the findings, two in three consumers say the service arm of air conditioner manufacturer charges 50% or higher compared to local vendors to […]
Chinese technology major Tencent has bought a stake worth $264 million (Rs 2,060 crore) in Walmart-owned Flipkart from co-founder Binny Bansal, through its European subsidiary, according to a news item first broken by news agency PTI. Binny Bansal holds around 1.84% stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV. […]
External commercial borrowings (ECBs) by corporate India declined sharply to $312 million in April, compared with a little over $5 billion in March and generally elevated levels for many months through the last two financial years (see chart). A prolonged regime of very low interest rates that prevailed in the developed economies had given a […]
India Inc’s dividend outgo hit a record Rs 3.3 trillion in FY22, translating into a payout ratio of 37.6%. The sharp rise in payouts was largely because state-owned banks resumed distributing dividends after a gap of six years and other CPSEs and top IT players too became more generous with payouts on improved profitability. Top […]
The Reserve Bank of India (RBI) has cleared the appointment of R Subramaniakumar as managing director and chief executive officer of RBL Bank for a period of three years, the lender said on Saturday. Subramaniakumar has earlier overseen the insolvency process of Dewan Housing Finance Corporation (DHFL) in his capacity as administrator. “Please note that […]