Reliance Jio’s disruptive entry in September 2016 led to USD 10 billion in annual savings for consumers and will expand India’s per capita GDP by about 5.65 per cent, says a report.

Jio has made data accessible and affordable, with average prices per GB dropping to Rs 10 from Rs 152, bringing the internet within the reach of a larger proportion of the Indian population.

Telecom regulator Trai on Friday initiated the process to overhaul the mobile number portability (MNP) to remove the inconveniences faced by subscribers under the current port-out system.

The Telecom Regulatory Authority of India (Trai) has issued a discussion paper on reviewing the MNP process, which allows users to port out to network of other operators without changing the mobile number.

New Delhi: The hike in natural gas prices to a two-year high of $3.06 per million British thermal unit (mBtu) from April is likely to result in an additional revenue of Rs 1,500 crore for the state-owned explorer ONGC during the first half of this fiscal.

"Assuming natural gas sales volume of around 10 billion cubic meters for the first six months of 2018-19 for ONGC and its joint venture partners, ONGC's natural gas revenue will increase 23 per cent to Rs 8,000 crore for the six months between April 1 and September 30, 2018, from a reported Rs 6,500 crore the year before," Moody's said in its credit outlook.

Yes Bank offers an excellent opportunity to play the theme of structural improvement in profitability vs peers. Not only is the growth opportunity fairly abundant given Yes Bank’s smaller but growing balance sheet, even the retail opportunity on both sides of the balance sheet is likely to drive a 20bps improvement in RoA to 1.9% and 500bps increase in RoE to 23% over the next two years. In contrast, its stock valuations remain muted at 2.4x P/ABV and 13x P/E – this despite a solid stock return of 24% CAGR over the longer term (11 years) and even in the shorter term – 23% CAGR over three years – similar to HDFC Bank’s performance.

KOLKATA: India has largely been an ‘importer’ of global best practices. It is now set to ‘export’ a couple of cool business tricks that Amazon has perfected locally. Both India-first successful initiatives the Seattle behemoth is shipping overseas are in the logistics domain.

They involve roping in local entrepreneurs and tapping neighbourhood grocers, drugstores or other street-corner shops to ensure last-mile delivery of Amazon consignments to customers.

US stocks extended losses and the S&P 500 hit a session low in Friday afternoon trading after Federal Reserve chairman Jerome Powell said the US central bank will likely need to keep raising interest rates to keep inflation under control.

In a speech in Chicago on the US economic outlook, Powell said the labour market appeared close to full employment. It was his first speech on the economic outlook since taking over as chairman on Feb. 5.

Prime Minister Narendra Modi on Friday hit out at the Opposition parties, saying the strength of BJP is affecting them and they are unable to digest that a person born into a backward family is serving the nation.

Addressing the party workers on Bharatiya Janata Party's 38th foundation day, Modi gave a clarion call to party cadres to keep working for the nation and never get agitated by negativity of "vested interest groups".

Defending champion Sathish Sivalingam (77kg) claimed India's third gold medal in the Commonwealth Games today, coming out tops comfortably despite having given up podium hopes after his injured thighs made even routine things like sitting painful.

The 25-year-old Indian lifted a total 317kg (114kg+173kg) and was so ahead of the competition that he forfeited his final clean and jerk lift.

After merger of associate banks with itself in 2017-18, State Bank of India (SBI) is scaling down the pace of branch opening. It will open about 250 branches annually, as against the earlier 750-800 by the group.

Asked about the impact of the shift towards digital banking, using technology, SBI chairman Rajnish Kumar said physical contact points will still be needed because India is a vast country. Only, the outlets are becoming smaller.

The benchmark Nifty on Friday ended the week with 2.15 per cent gains, the most since the week ended July 14, 2017. Signs of easing trade tensions between the US and China, coupled with lowering of inflation forecast by the Reserve Bank of India (RBI), had buoyed investor sentiment.

However, global stock markets edged downwards on Friday after US President Donald Trump’s threat to impose an extra $100 billion in tariffs on China exacerbated fears of a more serious trade dispute, while the dollar paused ahead of crucial US payrolls data.

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