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India GSM mobile subscriber base touches 335 mn

September 11, 2009September 11, 2009 by Editor's Desk

According to a data by GSM industry lobby Cellular Operators’ Association of India (COAI), the telecom operators have added 9.3 million subscribers in August in the GSM segment taking the total number of GSM users in the country to 335.4 million.

Last month, the operators had added 9.9 million new users, showing a slump of 6% in August. The decline in August additions is attributed to the state-owned telcos like BSNL and MTNL, posting a dip in their monthly additions. Even with these growth figures, India remains as the world’s fastest growing mobile market.

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RBI directs banks to overlook KYC norms

September 11, 2009 by Editor's Desk

The Reserve Bank of India has directed the banks not to use know-your-customer (KYC) norms as an excuse to turn down customers’ request seeking to open no-frills accounts with them. No-frills accounts do not require maintaining minimum balance in customers’ account. Due to instances of many economically-disadvantaged customers being hurdled while taking loans, the central bank … Read more RBI directs banks to overlook KYC norms

Jet Airways Strike – Fly SpiceJet at 20% Discount

September 10, 2009 by Editor's Desk

Jet Airways pilots maybe on strike. Who cares, we have other alternative Airlines who are offering a deal to its consumers. SpiceJet has tied up with HDFC Bank Credit Cards and is offering 20% discount on all SpiceJet tickets. All you have to do is mention the code GET2HDFC while booking your ticketand swipe your … Read more Jet Airways Strike – Fly SpiceJet at 20% Discount

Copper settles lower on fall in US consumer data

September 10, 2009 by Editor's Desk

Copper futures market capped its four-day rise and ended lower on Wednesday on news that US consumer borrowing had declined more-than-expected and a surge in inventories of the industrial metal.

Copper futures for December delivery declined 3.2 cents, or 1.1%, to $2.924 a pound on the New York Mercantile Exchange’s Comex division. On the LME, copper for three-month delivery slid 0.9 percent to $6,415 a metric ton ($2.91 a pound).

RNRL smartly corners away govt from gas dispute with RIL

September 10, 2009 by Editor's Desk

In a bid to corner the government from its dispute with Reliance Industries (RIL), Anil Dhirubhai Ambani Group (ADAG) firm Reliance Natural Resources (RNRL) has told the Supreme Court (SC) that the government has no role to play either in the utilisation or the fixation of gas price in its contract with RIL.

The RNRL counsel said RIL had complete marketing freedom for sale of gas within India on such terms and at such price that RIL deems fit and proper. RNRL has blamed RIL of changing its stance with regard to the 2004 family agreement.

Forthcoming IPOs may fetch lower valuations

September 10, 2009 by Editor's Desk

The threshold companies going for public subscription may face a subdued response on lower valuations after the lukewarm reaction to two recently-listed high-profile scrips, Adani Power and NHPC, as analysts believe more corrections are expected in the overheated primary market. Adani Power and NHPC have witnessed their prices falling below offer prices. Although these issues … Read more Forthcoming IPOs may fetch lower valuations