September, 2009 - FreePress India

Final 3G Spectrum price may be higher than the base set by the government

September 22, 2009 by Editor's Desk

The government has fixed a base price of Rs 3,500 crore for a pan-India license in the forthcoming 3G spectrum auction, nearly 75% higher than the price decided earlier at Rs 2,020 crore. The reason behind the higher base price was because the finance ministry wanted to make sure that government gets a reasonable price per unit of spectrum.

However, the actual price is likely to be much higher than what has been asked by the government. All leading operators like Bharti Airtel, Reliance Communications, Vodafone-Essar, Tata Teleservices and Idea Cellular are gearing up to place bids for 3G spectrum and have already started fund raising exercises. New licensees like Datacom Solutions and Unitech Wireless too are likely to try, though they might find it difficult if the bidding becomes really aggressive.

Insured Vehicles Database in India

September 22, 2009 by Editor's Desk

Insurance Regulator, Insurance Regulatory and Development Authority (IRDA) is developing database of all insured vehicles. This is following to the release that IRDA has prepared draft on design and development of Vehicle Insurance Status SMS System (VISSS).

The proposed system will offer instant and easy availability of insurance status of the vehicle. Due to this authorities will be able to track vehicles which are not insured, which will help them to take action against such non-insured vehicles and will also reduce forged policy document. This will lead to more and more vehicles getting into insurance bracket.

National Stock Exchange Removes Pipavav Shipyard Book Building Link

September 18, 2009 by Komal Meswani

The National Stock Exchange of India has removed the link for ongoing IPO of Pipavav Shipyard which indicates the current book building position. NSE is supposed to host a Link to Ongoing IPOs and provide Live Book Building Status to all the Investors of India. Here is evidence about NSE taking off Pipavav Shipyard’s Book … Read more National Stock Exchange Removes Pipavav Shipyard Book Building Link

Max New York Life – Ropes in Sr Citizen Amitabh Bachchan as brand ambassador

September 16, 2009September 16, 2009 by Komal Meswani

Max New York Life, one of India’s leading life insurance companies has roped in Amitabh Bachchan as the brand ambassador for Max Vijay. Had it been a Sr. Ciizens Plan it would have made sense 🙂

Max Vijay is specifically targeted at providing financial inclusion to the underprivileged masses. This is a unique product that has been designed keeping in mind the savings and protection needs of the common people.

Shoppers Stop Franchises Crossword Stores

September 16, 2009 by Komal Meswani

Shoppers Stop, part of Raheja Group, has opened its Crossword franchisee store at Powai in Mumbai and one Crossword store at Hypercity, Hi-Tech City at Madhapur in Hyderabad. Following the development, the retail major now has 53 Crossword stores. Shoppers Stop runs a chain of departmental stores with brands including brands Shoppers Stop, Home Stop, … Read more Shoppers Stop Franchises Crossword Stores

India Advance tax signals recovery

September 16, 2009 by Komal Meswani

In a robust signal of recovery underway in the Indian economy, advance tax numbers for the second quarter of the fiscal have shown buoyant growth. The good thing is that the recovery party is being celebrated across most of the industries, especially the banking, automobile, oil and gas and infrastructure space.

Reliance Industries, the country’s largest company by market capitalisation, has paid Rs 1,157 crore against Rs 314 crore in the immediate previous quarter. Similarly, BPCL paid Rs 312 crore against Rs 40 crore. In the banking space, State Bank of India and ICICI Bank have paid advance tax of Rs 1,838 crore (Rs 1,068 crore in the first quarter of the fiscal 2009-10) and Rs 501 crore (Rs 250 crore) respectively.