Telecom infrastructure firm American Tower Corporation (ATC) today announced that it has completed mobile tower purchase deal worth Rs 3,800 crore with Vodafone India through its Indian arm. ATC Telecom Infrastructure, a majority owned Indian subsidiary of ATC, has completed the transaction. This is a previously announced acquisition of Vodafone India’s telecom site business, which consists of approximately 10,200 communications sites, for a total cash consideration of about Rs 38 billion, ATC said in a statement.

The Telecom Regulatory Authority of India’s (Trai) regulation that telcos can no longer make an offer to select clients — segmented offers, in jargon — but have to extend them to all subscribers could potentially cost the industry Rs 10,000-12,000 crore in a year.

Right now, when a subscriber threatens to move to another telco — port, in jargon — the original telco offers to match, even better the offer being made.

The contribution of order inflows from private sector and overseas orders has almost halved for Larsen and Toubro (L&T) over the last few years. However, a sharp uptick in fresh order inflows led by government spending in India, is aiding the heavy engineering major tide over sluggishness.

A MiG 17 helicopter of the Indian Air Force crashed near Kedarnath this morning, official sources said here. All persons on board are safe, they said.

The accident took place around 8.10 AM. A court of inquiry has been ordered to ascertain the cause of the accident. According to reports, the Mi-17-V5 chopper crashed while carrying construction materials.

Union IT minister Ravi Shankar Prasad has said that he personally is not in favour of linkinh Aadhaar card with Voter ID card.

"I am not saying this as an IT minister... My personal opinion is Aadhaar should not be linked with the voter ID card," Prasad said on Sunday at an event in Bengaluru.

SBI Life Insurance Company Limited on Tuesday appointed Sanjeev Nautiyal as its new MD and CEO.

Nautiyal replaces Arijit Basu, who takes over a key role in the State Bank of India Group.

Amazon India has reportedly laid off its 60 employees over global restructuring. According to a report published in the Economic Times, citing sources, it said that Amazon India may future might handover pink slips to more of its staff.

Sources close to the development told the publication that the second person said there might be more layoffs across teams as the company put 25 per cent more employees on performance improvement plans (PIPs) in the December quarter as compared with a year earlier.

Facing heat over nearly Rs 13,000 crore scam, Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices.

Urging customers not to believe in any rumours, the bank assured that they can withdraw or deposit their money anytime.

E-commerce player Paytm Mall has raised about Rs 29 billion from SoftBank Investment Holdings and Alibaba.com Singapore in a deal valuing Paytm’s online shopping venture at $2 billion.

According to a regulatory filing by Paytm Mall, an aggregate amount of $400 million (about Rs 26 billion) has come from SB Investment Holdings (UK) and its affiliates, including SoftBank Vision Fund.

The ICICI Bank stock posted its biggest single-day drop in nearly three years amid the ongoing investigations into its lending practices.

Shares of the country’s third-largest lender closed at Rs 261.9, down Rs 16.5, or 5.93 per cent on the BSE, the most since August 24, 2015. The market valuation eroded by Rs 104.52 billion to Rs 1.68 trillion on the BSE.

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