Kolkata: Telecom infrastructure company Viom Networks Ltd has bagged a contract to provide Wi-Fi and other Internet-related services at the Chennai International Airport.
Market sources point out that the deal is expected to be in the range of Rs 20–30 crore. Both Viom and AAI refused to comment on the deal size.
This would be Viom’s first foray outside the telecom tower business. With nearly 42,000 telecom towers, the company is currently the second largest operator in the country after Indus Towers.
Viom Networks is a joint venture between the SREI Group of Kolkata and Tata Teleservices.
According to H.S. Suresh, Director, Chennai Airport, services include providing infrastructure to ensure Wi-Fi across the airport. Other “Internet-based services” - that generally include cable TV services (DTH) – will also be provided along with it. Agreements between Viom and the Airports Authority of India (AAI) were signed in July.
“We signed the contract with Viom two months back. As per the contract, Viom would pay us a licence fee of Rs 24 lakh a month (or Rs 2.88 crore annually). This is a seven-year contract,” Suresh told Business Line.
According to him, Viom Networks will develop the infrastructure at the airport and have tie-ups with other telcos (telecom companies) for offering internet-based services.
REVENUE
Market sources point out that Viom would have to partner with a telecom company to provide Internet and Wi-Fi services.
In terms of revenue, the Viom can earn from providing infrastructure services to its telecom service provider. Those aware of the deal say that Viom will provide backend infrastructure services only.
Viom, however, refused to comment on the deal. “As per corporate policy we do not comment on market speculation,” a company spokesperson said.
According to Katyayan Gupta, analyst at Forrester Research, Viom’s decision to opt for in-building solutions shows its intention to evolve from a “telecom infrastructure” company to a “systems integrator”.
“The company has the necessary expertise in telecom infrastructure to leverage itself in other verticals,” he added.
OTHER VERTICALS
Following a surge in data growth and limited opportunities in the tower business, Viom has been trying to move into other revenue generating verticals.
Some of the verticals include third-party managed solutions (managing telecom tower infrastructure for operators) and in-building solutions (improving internet connectivity and Wi-Fi services within buildings).
Viom is already in talks with Telenor for setting up and managing towers in Mynamar.
Success in my Habit
Friday, September 6, 2013
Coal production registers 11 percent growth during August, 2013
New Delhi: Ministry of Coal is making concerted efforts to increase the availability of coal in the country. In spite of various constraints, Coal India Limited has produced 31.67 million tonnes in the month of August, 2013 registering a growth of about 11% over the corresponding period of the previous year. This was informed by Union Minister of Coal, Shri Sriprakash Jaiswal to the member of Parliamentary Consultative Committee attached to the Ministry here today. He said that during the period April-august, 2013, the cumulative coal production has been 167.32 million tonnes registering a growth of about 3% over the corresponding period of the previous year. The off-take to the power sector at 25.9 million tonnes in August 2013 from CIL indicates a growth of 5.5% over the corresponding period of the previous year. Similarly the cumulative off-take to the power sector during the period April-August 2013 at 140.6 million tonnes from CIL indicates a growth of 6.6% over the corresponding period of the previous year. Coal Companies are putting their best of efforts in meeting the requirements of different sectors of the economy, he asserted.
Shri Jaiswal said that the exploration is the critical activity in enhancing our coal reserve base. With the efforts of the various exploration agencies in the country, the geological coal resources have reached a level of 299 billion tonnes and lignite resources 43 billion tonnes. However, only about 41% of coal resources and 14% of lignite resources are in the proved category and remaining need to be brought into proved category. He said that the Government is laying emphasis to bring more and more area in proven category so that mining could be taken up in bigger way.
The Minister informed to the members that on amendment of the provisions of MMDR Act, a set of new rules had been formulated for offering the coal blocks through bidding. While it was agreed to offer regionally explored blocks to the Government Companies, only coal blocks explored in detail have been proposed to be offered to private sector. This has enhanced the requirement for exploration in these blocks for which CMPDIL has been entrusted with the job. CMPDIL is carrying out this work both through departmental resources as well as outsourcing.
Participating in the discussion, Members of Parliament suggested that strict monitoring norms should be evolved to regulate activities of outsourced agencies. They complained that most of these agencies violet standard norms and do not provide employment to locals. They also suggested that the social welfare activities should be taken up in bigger way in the interest of local people. The meeting was attended by S/Shri Hemant Biswal, Ganesh Singh, Pshupatenath Singh, Yaswant Sinha, Pradeep Bhattachrya, Sanjiv Kumar, Om Prakash Yadav, Shri Bhishma Shankar Tiwari, Devi Dutt, Ravindra Kumar Pandey.
Shri Jaiswal said that the exploration is the critical activity in enhancing our coal reserve base. With the efforts of the various exploration agencies in the country, the geological coal resources have reached a level of 299 billion tonnes and lignite resources 43 billion tonnes. However, only about 41% of coal resources and 14% of lignite resources are in the proved category and remaining need to be brought into proved category. He said that the Government is laying emphasis to bring more and more area in proven category so that mining could be taken up in bigger way.
The Minister informed to the members that on amendment of the provisions of MMDR Act, a set of new rules had been formulated for offering the coal blocks through bidding. While it was agreed to offer regionally explored blocks to the Government Companies, only coal blocks explored in detail have been proposed to be offered to private sector. This has enhanced the requirement for exploration in these blocks for which CMPDIL has been entrusted with the job. CMPDIL is carrying out this work both through departmental resources as well as outsourcing.
Participating in the discussion, Members of Parliament suggested that strict monitoring norms should be evolved to regulate activities of outsourced agencies. They complained that most of these agencies violet standard norms and do not provide employment to locals. They also suggested that the social welfare activities should be taken up in bigger way in the interest of local people. The meeting was attended by S/Shri Hemant Biswal, Ganesh Singh, Pshupatenath Singh, Yaswant Sinha, Pradeep Bhattachrya, Sanjiv Kumar, Om Prakash Yadav, Shri Bhishma Shankar Tiwari, Devi Dutt, Ravindra Kumar Pandey.
Swap window for NRI deposits to boost forex reserves
Mumbai: The Reserve Bank of India's (RBI) move to offer a concessional window to banks to swap fresh Foreign Currency Non-Resident (Bank) or FCNR (B) deposits dollar funds will boost the foreign exchange reserves to the tune of $ 10 billion, rough estimates suggest.
The move will encourage the banks to raise such deposits as their cost of funds will by at least 2.5%. In addition, recently RBI has provided a dispensation to banks that they will not have to maintain cash reserve ratio and statutory liquidity ratio for incremental FCNR (B) deposits. The swap facility is available to the banks till November 30.
“Banks are raising these deposits from NRIs at Libor/swap rate plus 400bp. The cost of FCNR(B) deposit mobilization works out to about 8.5 %. If banks lend at, say, 11%, they will likely make the entire 250 bps spread as FCNR(B) deposits will not attract CRR or SLR for now,” said Indranil Sengupta, India Economist, Bank of America Merrill Mynch.
“The most important near-term move is to allow banks to swap their dollar liabilities against FCNR(B) deposits at 3.5 % per annum for three years. This, along with a few other measures, could attract USD10bn of forex inflows in next three months, on our estimates, and could be a material near-term positive for the rupee,” said economists Siddhartha Sanyal and Rahul Bajoria of Barclays.
The central bank has also increased bank's overseas borrowing limit of unimpaired Tier I capital to 100 %, from 50 % earlier is set to attract dollar inflows into the country. The borrowing mobilization can be swapped with the RBI at 100 bps lower than the market rate.
According to a report by YES Bank, this step creates a potential room for the banking system to raise approximately $30 billion.
So far in the street there were concerns on attracting capital inflows into the country as Foreign Institutional Investors (FIIs) have been selling their holding in domestic market. This resulted in weakness of the rupee which has already dropped by almost 22 % against the dollar so far in the current financial year.
“On the capital account, the announcement of swap windows for FCNR (B) deposits and banks’ overseas borrowing (up to 100 % of Tier 1 capital) are likely to result in incremental dollar inflows into India. We estimate that $15-20 billion inflows can result from these measures and this can go some way towards plugging the BoP shortfall expected in the current financial year,” said A Prasanna, chief economist, ICICI Securities Primary Dealership in a note to clients.
Data from Securities Exchange Board of India (SEBI) shows that in the current fiscal so far net FII outflows have been $ 5,973 million from domestic market.
The move will encourage the banks to raise such deposits as their cost of funds will by at least 2.5%. In addition, recently RBI has provided a dispensation to banks that they will not have to maintain cash reserve ratio and statutory liquidity ratio for incremental FCNR (B) deposits. The swap facility is available to the banks till November 30.
“Banks are raising these deposits from NRIs at Libor/swap rate plus 400bp. The cost of FCNR(B) deposit mobilization works out to about 8.5 %. If banks lend at, say, 11%, they will likely make the entire 250 bps spread as FCNR(B) deposits will not attract CRR or SLR for now,” said Indranil Sengupta, India Economist, Bank of America Merrill Mynch.
“The most important near-term move is to allow banks to swap their dollar liabilities against FCNR(B) deposits at 3.5 % per annum for three years. This, along with a few other measures, could attract USD10bn of forex inflows in next three months, on our estimates, and could be a material near-term positive for the rupee,” said economists Siddhartha Sanyal and Rahul Bajoria of Barclays.
The central bank has also increased bank's overseas borrowing limit of unimpaired Tier I capital to 100 %, from 50 % earlier is set to attract dollar inflows into the country. The borrowing mobilization can be swapped with the RBI at 100 bps lower than the market rate.
According to a report by YES Bank, this step creates a potential room for the banking system to raise approximately $30 billion.
So far in the street there were concerns on attracting capital inflows into the country as Foreign Institutional Investors (FIIs) have been selling their holding in domestic market. This resulted in weakness of the rupee which has already dropped by almost 22 % against the dollar so far in the current financial year.
“On the capital account, the announcement of swap windows for FCNR (B) deposits and banks’ overseas borrowing (up to 100 % of Tier 1 capital) are likely to result in incremental dollar inflows into India. We estimate that $15-20 billion inflows can result from these measures and this can go some way towards plugging the BoP shortfall expected in the current financial year,” said A Prasanna, chief economist, ICICI Securities Primary Dealership in a note to clients.
Data from Securities Exchange Board of India (SEBI) shows that in the current fiscal so far net FII outflows have been $ 5,973 million from domestic market.
Vietnam invites Indian rubber manufacturers to set up units in the country
Kochi: Vietnam has invited Indian rubber industry to invest in the South Asian nation and benefit from the vibrant natural rubber sector in Vietnam. Currently Vietnam consumes only 15% of the more than 9 lakh tonnes of rubber produced in the country. A delegation of Vietnam Rubber Association (VRA) led by chairman Mr. Tran Ngoc Thuan visited India recently and held talks with leading members of All India Rubber Industries Association (AIRIA).
India is one of the largest importers of rubber from Vietnam. In fact Vietnam has emerged as the second largest exporter of NR to India after Indonesia. Vietnam's rubber exports to India jumped to 51273.13 tonnes in 2012-13 from 28113.95 tonnes in 2011 -12, representing a 82.38 per cent increase.
Vietnam is fast emerging as a leading producer of natural rubber. The productivity of rubber in Vietnam at 1707 kg/ hectare is only second to India's top ranking productivity of 1823 kg per hectare and is much higher than average of 1442 kg per hectare average in Association of Natural Rubber Producing Countries (ANRPC).
"Vietnam has planned a major fillip to its domestic rubber manufacturing and has targeted 1.2 million tonnes of rubber production and increase in domestic consumption from current 15% to 40% . Vietnam has asked for strengthening business ties with Indian rubber industry and help scale up rubber manufacturing in Vietnam", said Mr Niraj Thakkar, President AIRIA.
Vietnam rubber group has developed many industrial parks and the chairman invited Indian rubber products manufacturers to Vietnam for closer ties in setting up rubber manufacturing units. We are working out the feasibility of a delegation to Vietnam soon,'' said Thakkar.
India is one of the largest importers of rubber from Vietnam. In fact Vietnam has emerged as the second largest exporter of NR to India after Indonesia. Vietnam's rubber exports to India jumped to 51273.13 tonnes in 2012-13 from 28113.95 tonnes in 2011 -12, representing a 82.38 per cent increase.
Vietnam is fast emerging as a leading producer of natural rubber. The productivity of rubber in Vietnam at 1707 kg/ hectare is only second to India's top ranking productivity of 1823 kg per hectare and is much higher than average of 1442 kg per hectare average in Association of Natural Rubber Producing Countries (ANRPC).
"Vietnam has planned a major fillip to its domestic rubber manufacturing and has targeted 1.2 million tonnes of rubber production and increase in domestic consumption from current 15% to 40% . Vietnam has asked for strengthening business ties with Indian rubber industry and help scale up rubber manufacturing in Vietnam", said Mr Niraj Thakkar, President AIRIA.
Vietnam rubber group has developed many industrial parks and the chairman invited Indian rubber products manufacturers to Vietnam for closer ties in setting up rubber manufacturing units. We are working out the feasibility of a delegation to Vietnam soon,'' said Thakkar.
UK trade body, Indian biotech cos tie up to collaborate in life sciences
Bengaluru: UK Trade & Investment (UKTI) and the Association of Biotech Led Enterprises (ABLE) signed a memorandum of understanding (MoU) to encourage and develop collaborative opportunities between Indian life sciences organisations and the UK, in Bangalore.
The MoU is a milestone for the UK Oncology Mission, which is on a tri-city tour (Mumbai, Bangalore and Chennai). The 12-member UK delegation comprises prominent members from universities, healthcare companies, cancer research organisations and healthcare providers such as diagnostics and drug delivery systems.
The MoU will aim at combining UK’s heritage and leadership in the area of healthcare and life sciences and India’s emerging healthcare ecosystem to promote and develop the sciences sector in both countries.
ABLE and UKTI also run the Core Initiative Groups in different sector strands in life sciences. The partnership will include the participation of UK and Indian experts in life sciences in the areas of industry, research and trade.
It will further promote the UK and India as each other’s partners of choice in life sciences such as drug discovery, bioinformatics, regenerative medicine, clinical research, agri-bio, oncology and regulation. This will be done through ongoing research and discussion and identifying areas of potential business opportunity that can be addressed by Indian and UK firms.
In Chennai, later this week, the delegation will participate in the all-India launch of Healthcare UK and the IBHI-Indo-UK oncology summit. The delegates will travel to Mumbai to participate in a conference on advanced drug delivery system in oncology medicine in India for improving cancer care beyond the metros.
The MoU is a milestone for the UK Oncology Mission, which is on a tri-city tour (Mumbai, Bangalore and Chennai). The 12-member UK delegation comprises prominent members from universities, healthcare companies, cancer research organisations and healthcare providers such as diagnostics and drug delivery systems.
The MoU will aim at combining UK’s heritage and leadership in the area of healthcare and life sciences and India’s emerging healthcare ecosystem to promote and develop the sciences sector in both countries.
ABLE and UKTI also run the Core Initiative Groups in different sector strands in life sciences. The partnership will include the participation of UK and Indian experts in life sciences in the areas of industry, research and trade.
It will further promote the UK and India as each other’s partners of choice in life sciences such as drug discovery, bioinformatics, regenerative medicine, clinical research, agri-bio, oncology and regulation. This will be done through ongoing research and discussion and identifying areas of potential business opportunity that can be addressed by Indian and UK firms.
In Chennai, later this week, the delegation will participate in the all-India launch of Healthcare UK and the IBHI-Indo-UK oncology summit. The delegates will travel to Mumbai to participate in a conference on advanced drug delivery system in oncology medicine in India for improving cancer care beyond the metros.
Thursday, September 5, 2013
Hero Group enters green energy biz
New Delhi: The Hero Group would soon create three-four large business units, Pawan Munjal, managing director of Hero MotoCorp has said. He added the new business units would be on the lines of Hero MotoCorp, which contributed the largest chunk of revenue to the group. The group would establish itself as a multinational group, he said.
On Wednesday, the group announced the launch of Hero Future Energies, a company focused on renewable energy. The company, which would initially have wind and solar projects, is being spearheaded by Rahul Munjal, who also heads the group’s Easy Bill Ltd. Rahul Munjal said the company already had a portfolio of projects. It is eyeing 1 Gw of power generation capacity by 2016.
Rahul Munjal told Business Standard the company wanted be within the top three positions in three-four years.
Registered in October 2012, Hero Future Energies has already commissioned a 37.5-Mw pilot wind project in Rajasthan. This year, it plans to develop 100 Mw of wind and solar power and 1 Mw of roof-top solar power.
Currently, Hero Future Energies has a strong project pipeline that includes 400 Mw of wind power projects and 50 Mw of solar power projects across Madhya Pradesh, Maharashtra, Karnataka and Andhra Pradesh. Recently, the company was awarded a 10-Mw solar power project in Karnataka, under the state’s solar power programme.
On Wednesday, the group announced the launch of Hero Future Energies, a company focused on renewable energy. The company, which would initially have wind and solar projects, is being spearheaded by Rahul Munjal, who also heads the group’s Easy Bill Ltd. Rahul Munjal said the company already had a portfolio of projects. It is eyeing 1 Gw of power generation capacity by 2016.
Rahul Munjal told Business Standard the company wanted be within the top three positions in three-four years.
Registered in October 2012, Hero Future Energies has already commissioned a 37.5-Mw pilot wind project in Rajasthan. This year, it plans to develop 100 Mw of wind and solar power and 1 Mw of roof-top solar power.
Currently, Hero Future Energies has a strong project pipeline that includes 400 Mw of wind power projects and 50 Mw of solar power projects across Madhya Pradesh, Maharashtra, Karnataka and Andhra Pradesh. Recently, the company was awarded a 10-Mw solar power project in Karnataka, under the state’s solar power programme.
Cotton textile sector to attract Rs 4,000-cr capex in 6 months
Mumbai: The cotton textile industry is set to attract Rs 4,000 crore investment in the next six months, with the sector set to receive the so-called margin money from the finance ministry under the Technology Upgradation Fund Scheme (Tufs).
The government had recently decided to extend Tufs, which aims to make funds available to the textile industry for technology upgrade of existing units as well as to set up new units, to the 12th five-year Plan.
The most labour-intensive sector--spinning--is likely to get the highest benefit of the extension in Tufs. The sectors benefited are spinning, weaving, processing, technical textiles, jute, silk, garmenting, cotton ginning, wool and powerlooms.
“We have been given assurance repeatedly by the textile ministry that the amount will be released by the finance ministry soon. Considering the amount as margin money, the industry can borrow another Rs 3,200 crore as working capital from banks totalling thereby an investment of Rs 4,000 crore in the next six months," said Manikam Ramaswami, chairman, Cotton Textiles Export Promotion Council.
Many state governments have offered schemes to attract investment in the sector away from Maharashtra and Gujarat to their states. Until now, the two states were the hot destinations for the textile sector. But looking at the government's incentive schemes and cheap labour, investors have started shifting towards the northeastern states.
Normally, the blackout period (time difference) is three to six months between two subsequent subsidy announcements. This time, however, it was almost 18 months. Consequently, investors during this period awaited announcement of the Tufs for fresh decisions on capital expenditure.
Fresh investment in the textile sector is set to accelerate export growth. Indian exporters would be able to take advantage of the rupee depreciation, which made them more competitive globally. India-made apparels were competitive at the rupee's level of 53 against the dollar, which depreciated around 25 per cent from this level, making exports more profitable.
Texprocil believes India has the potential to grow by at least 50 per cent in apparel exports generating over $5 billion of foreign exchange every year. Being the textile sector labour-intensive, the industry would be able to generate at least 200,000 jobs every year. Tufs was introduced on April 1, 1999. In its first 10 years, the scheme received an overwhelming success and was extended periodically.
In the newly announced Tufs, capital subsidy for new shuttleless looms has been raised from 10 to 15 per cent and the rate of interest reimbursement has been increased from five to six per cent. Further, the margin money subsidy has been increased from 20 to 30 per cent with an increase in subsidy cap from Rs 1 crore to Rs 1.5 crore.
"There was no fund available for spinning mills since April 2012. With the inclusion of TUFS in the 12th five-year Plan, the spinning mills will also get encouragement to boost investment to support overall exports," said D K Nair, secretary general, Confederation of Indian Textile Industry.
The government had recently decided to extend Tufs, which aims to make funds available to the textile industry for technology upgrade of existing units as well as to set up new units, to the 12th five-year Plan.
The most labour-intensive sector--spinning--is likely to get the highest benefit of the extension in Tufs. The sectors benefited are spinning, weaving, processing, technical textiles, jute, silk, garmenting, cotton ginning, wool and powerlooms.
“We have been given assurance repeatedly by the textile ministry that the amount will be released by the finance ministry soon. Considering the amount as margin money, the industry can borrow another Rs 3,200 crore as working capital from banks totalling thereby an investment of Rs 4,000 crore in the next six months," said Manikam Ramaswami, chairman, Cotton Textiles Export Promotion Council.
Many state governments have offered schemes to attract investment in the sector away from Maharashtra and Gujarat to their states. Until now, the two states were the hot destinations for the textile sector. But looking at the government's incentive schemes and cheap labour, investors have started shifting towards the northeastern states.
Normally, the blackout period (time difference) is three to six months between two subsequent subsidy announcements. This time, however, it was almost 18 months. Consequently, investors during this period awaited announcement of the Tufs for fresh decisions on capital expenditure.
Fresh investment in the textile sector is set to accelerate export growth. Indian exporters would be able to take advantage of the rupee depreciation, which made them more competitive globally. India-made apparels were competitive at the rupee's level of 53 against the dollar, which depreciated around 25 per cent from this level, making exports more profitable.
Texprocil believes India has the potential to grow by at least 50 per cent in apparel exports generating over $5 billion of foreign exchange every year. Being the textile sector labour-intensive, the industry would be able to generate at least 200,000 jobs every year. Tufs was introduced on April 1, 1999. In its first 10 years, the scheme received an overwhelming success and was extended periodically.
In the newly announced Tufs, capital subsidy for new shuttleless looms has been raised from 10 to 15 per cent and the rate of interest reimbursement has been increased from five to six per cent. Further, the margin money subsidy has been increased from 20 to 30 per cent with an increase in subsidy cap from Rs 1 crore to Rs 1.5 crore.
"There was no fund available for spinning mills since April 2012. With the inclusion of TUFS in the 12th five-year Plan, the spinning mills will also get encouragement to boost investment to support overall exports," said D K Nair, secretary general, Confederation of Indian Textile Industry.
Coal India Limited signs FSAs with 16 private power projects
New Delhi: In a major relief to the fuel-starved power sector, state-run monopoly supplier Coal India Limited has signed agreements to supply coal to sixteen private power projects worth Rs 84,500 crore with a generation capacity of over 14,000 mega watts or MW. With these long-pending fuel supply agreements in place, seven of these projects can be commissioned as early as the next quarter (between October and December), while the rest would start power generation between January and September next year.
The coal ministry has expedited the signing of these pacts in view of the Centre's drive to revive investor sentiment by jumpstarting large stalled investments. The ministry is pursuing similar fuel supply pacts for nine more power projects worth Rs 41,200 crore.
"Fuel supply agreements have been signed by Coal India and its subsidiaries with sixteen projects over the last few days," a senior power ministry official said, adding that half of these projects are located in Chhatisgarh and two each are in Maharashtra, Odisha and West Bengal.
The power ministry has identified 122 plants that are waiting for myriad clearances, including assured fuel supplies, and sought the help of a special cell in the cabinet secretariat set up to resolve lastmile hurdles holding up investment plans. "The development is significant as no private sector power project has got coal linkages since 2009," said a senior government official.
Project developers who can finally start commercial operations thanks to this development, include GMR Energy, Lanco, Adani Power, DB Power and the Avantha group. The coal ministry had earlier set a deadline of August 31 for signing fuel supply agreements, but later sought an extension till September 6 that was approved by the Cabinet Committee on Investments at its last meeting in late August.
The coal ministry has expedited the signing of these pacts in view of the Centre's drive to revive investor sentiment by jumpstarting large stalled investments. The ministry is pursuing similar fuel supply pacts for nine more power projects worth Rs 41,200 crore.
"Fuel supply agreements have been signed by Coal India and its subsidiaries with sixteen projects over the last few days," a senior power ministry official said, adding that half of these projects are located in Chhatisgarh and two each are in Maharashtra, Odisha and West Bengal.
The power ministry has identified 122 plants that are waiting for myriad clearances, including assured fuel supplies, and sought the help of a special cell in the cabinet secretariat set up to resolve lastmile hurdles holding up investment plans. "The development is significant as no private sector power project has got coal linkages since 2009," said a senior government official.
Project developers who can finally start commercial operations thanks to this development, include GMR Energy, Lanco, Adani Power, DB Power and the Avantha group. The coal ministry had earlier set a deadline of August 31 for signing fuel supply agreements, but later sought an extension till September 6 that was approved by the Cabinet Committee on Investments at its last meeting in late August.
TCS bags project from Macau telecom firm
Mumbai: Tata Consultancy Services has been selected to deploy a new rating and billing system for CTM, a telecom service provider in Macau.
The solution, which is to be deployed in three years, will allow CTM’s customers to receive faster response to enquiries and enable them to better manage their services and bills, according to a press statement.
“TCS and CTM have an extensive working history and we are excited to expand the range of services TCS is providing to CTM and to develop a roadmap for ongoing future cooperation and success,” said Ravi Viswanathan, President, Growth Markets, TCS.
For the quarter ended June 30, 2013, the company generated 9.6 per cent of its revenues from the telecom sector.
The TCS scrip hit a new 52-week high today at Rs 2,075.85, before settling at Rs 2,065.95, 3.25 per cent higher than yesterday’s closing price.
The solution, which is to be deployed in three years, will allow CTM’s customers to receive faster response to enquiries and enable them to better manage their services and bills, according to a press statement.
“TCS and CTM have an extensive working history and we are excited to expand the range of services TCS is providing to CTM and to develop a roadmap for ongoing future cooperation and success,” said Ravi Viswanathan, President, Growth Markets, TCS.
For the quarter ended June 30, 2013, the company generated 9.6 per cent of its revenues from the telecom sector.
The TCS scrip hit a new 52-week high today at Rs 2,075.85, before settling at Rs 2,065.95, 3.25 per cent higher than yesterday’s closing price.
DBTL scheme to be launched in 235 more districts by 01. 01.2014; taking total districts to be covered to 289
Rs.222 crore subsidy has been transferred directly to bank accounts of LPG consumers in existing DBTL 54 districts
LPG consumers advised to obtain Aadhaar number and link it to their LPG consumer number and to bank accounts
Government of India has decided to extend the Direct Benefit Transfer for LPG (DBTL) Scheme in 235 more districts by 1.1.14 in phases depending on Aadhaar penetration. With this roll out almost half the country, covering 289 districts, will get covered by DBTL by 1.1.14.
The DBTL scheme has already been launched so far in 54 districts of the country covering 21.9 million LPG consumers and Rs.222 crore subsidy has been transferred through 5.3 million transactions into the bank accounts of the LPG consumers so far.
The launch schedule for the country is given below:
Phase DBTL launch on Number of Districts Lists of district at Annexure #
I Over 20 1
II Over 34 2
III 1.10.13 44 3
IV 1.11.13 46 4
V 1.12.13 40 5
VI 1.1.14 105 6
Total 289
The state-wise expansion program schedule is at Annexure 7.
As per the DBTL scheme, cash subsidy is transferred for the LPG cylinders directly into the bank accounts of the LPG consumers while the sale happens at the market price. In order to avail transfer of cash subsidy into the bank account, Aadhaar number of the LPG consumer has to be linked to the LPG consumer number and bank account of the LPG consumer for which a three months grace period from date of launch is being provided. During the grace period all consumers continue to get LPG cylinders at subsidized rate. After the grace period is over, all LPG consumers have to pay for LPG cylinders at market rate. Linkage via Aadhaar number is required for the transfer of cash subsidy. Thus, only those who have linked their Aadhaar numbers to both their bank account and LPG consumer number will be able to receive cash subsidy in their bank accounts. After the grace period is over, consumers will receive cash subsidy as and when they link their Aadhaar numbers for the balance entitlement.
For details about the Aadhaar enabled banks, status of linkage of Aadhaar to your bank account and LPG consumer number, frequently asked questions about the scheme please visit the following website:
http://www.petroleum.nic.in/dbtl/
All LPG consumers of the 289 districts are advised to obtain Aadhaar number and link it to their LPG consumer number and to their bank accounts if they wish to avail of the LPG subsidy at the earliest.
Aadhaar number is not required to avail LPG cylinders at non-subsidized rate.LPG consumers not desirous of availing subsidy on LPG are not required to furnish their Aadhaar numbers.
LPG consumers advised to obtain Aadhaar number and link it to their LPG consumer number and to bank accounts
Government of India has decided to extend the Direct Benefit Transfer for LPG (DBTL) Scheme in 235 more districts by 1.1.14 in phases depending on Aadhaar penetration. With this roll out almost half the country, covering 289 districts, will get covered by DBTL by 1.1.14.
The DBTL scheme has already been launched so far in 54 districts of the country covering 21.9 million LPG consumers and Rs.222 crore subsidy has been transferred through 5.3 million transactions into the bank accounts of the LPG consumers so far.
The launch schedule for the country is given below:
Phase DBTL launch on Number of Districts Lists of district at Annexure #
I Over 20 1
II Over 34 2
III 1.10.13 44 3
IV 1.11.13 46 4
V 1.12.13 40 5
VI 1.1.14 105 6
Total 289
The state-wise expansion program schedule is at Annexure 7.
As per the DBTL scheme, cash subsidy is transferred for the LPG cylinders directly into the bank accounts of the LPG consumers while the sale happens at the market price. In order to avail transfer of cash subsidy into the bank account, Aadhaar number of the LPG consumer has to be linked to the LPG consumer number and bank account of the LPG consumer for which a three months grace period from date of launch is being provided. During the grace period all consumers continue to get LPG cylinders at subsidized rate. After the grace period is over, all LPG consumers have to pay for LPG cylinders at market rate. Linkage via Aadhaar number is required for the transfer of cash subsidy. Thus, only those who have linked their Aadhaar numbers to both their bank account and LPG consumer number will be able to receive cash subsidy in their bank accounts. After the grace period is over, consumers will receive cash subsidy as and when they link their Aadhaar numbers for the balance entitlement.
For details about the Aadhaar enabled banks, status of linkage of Aadhaar to your bank account and LPG consumer number, frequently asked questions about the scheme please visit the following website:
http://www.petroleum.nic.in/dbtl/
All LPG consumers of the 289 districts are advised to obtain Aadhaar number and link it to their LPG consumer number and to their bank accounts if they wish to avail of the LPG subsidy at the earliest.
Aadhaar number is not required to avail LPG cylinders at non-subsidized rate.LPG consumers not desirous of availing subsidy on LPG are not required to furnish their Aadhaar numbers.
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