The recommendations of the inter-ministerial group (IMG) on telecom seem to have run into some legal complications. The Telecom Commission (TC) headed by its chairperson and department of telecommunications secretary Aruna Sundararajan, which met on Friday to discuss the report, decided to send it back to the panel seeking clarifications on certain issues. Sources said that the IMG is expected to provide the clarifications in two weeks after which the TC would meet again to deliberate on it.

Punjab National Bank and state-run firm BSNL today teamed up to roll out open mobile wallet Speedpay across 10 states in the country. PNB’s Speedway wallet will operate like any other mobile wallet for paying bills, recharging phone besides its users will be able to deposit and withdraw money from authorised retail outlets. Also, Speedway users will be able to operate Internet banking services from the application. “India is now second largest market in the world with 120 crore mobile users. Congratulating BSNL, Punjab National Bank and the technology partners in helping India moving towards less cash economy,” Telecom minister Manoj Sinha said at an event to mark the agreement signing ceremony between BSNL and PNB.

With over 500 of its pilots and cabin crew coming under the DGCA scanner for skipping mandatory alcohol tests, Air India has told the regulator that there has been no violation even as a pilots’ grouping has threatened to go on protest if any action is taken. The DGCA has found 132 pilots and 434 cabin crew of Air India to have allegedly skipped the mandatory pre- and post- flight alcohol test this year and they face the prospect of being grounded. Air India pilots’ union ICPA has threatened to go on protest against a senior official at the DGCA if the airline staff are suspended.

The top management of Infosys claimed that it has received positive reassurance from the client community during its massive outreach initiative in light of dramatic exit of CEO Vishal Sikka and co-founder Nandan Nilekani coming back as chairman last month. “The feedback from our clients has been positive and we have not seen anything unusual. We are now very much focused on execution,” Infosys interim CEO U B Pravin Rao said during the Citi Global Technology Conference 2017 held in New York on Thursday.

Mumbai: India's market regulator, the Securities and Exchange Board of India (Sebi), has decided to retain the power to take a final call on the definition of 'control' in mergers and acquisitions after the government advised it not to change the current regulation.

In 2016, Sebi had proposed to adopt the so-called bright-line tests for acquiring control under the takeover code. The regulator had proposed to provide a list of illustrative rights below the control definition which would state that following rights either individually or collectively won't tantamount to control.

The Haryana Police on Saturday found illegal explosives factory inside the premises of Dera Sacha Sauda, as the sanitisation operation continued on the second day in Sirsa.

"Illegal explosives factory inside Dera Sacha Sauda premises is sealed. Explosives and fire cracker have been seized," said Haryana's Information and Public Relations Department Deputy Director, Satish Mehra.

State Bank chairman Arundhati Bhattacharya on Friday urged small and medium enterprises (SMEs) to focus on raising funds through equity instead of debt to drive their businesses in a healthier manner.

She said SMEs' relying more on debt for their growth capital in the initial stage of their business put pressure on their balance sheets.

Finnish communications company Nokia and Chinese telecom gear maker ZTE has bagged the Rs 6,000-crore network expansion project of state-owned Bharat Sanchar Nigam Ltd (BSNL).

"We have issued the advance purchase order to Nokia and in the next 10 days it will be issued to ZTE, " said BSNL chairman and managing director Anupam Shrivastava.

The Army has finalised a plan to induct women in the military police, a senior officer said on Friday.

The plan -- being seen as a major step towards breaking gender barriers in the force -- is to induct approximately 800 women in military police with a yearly intake of 52 personnel per year, Adjuntant General of the Army Lt. Gen. Ashwani Kumar told reporters. In an interview to PTI in June, Army Chief Gen. Bipin Rawat had said the Army was looking at inducting women jawans and the process would start with the induction of women into military police corps.

The gold prices on Friday rose by Rs 990 to Rs 31,350 per 10 grams over global cues. This has been the highest price in 11 months.

The increase in sales by local jewellers also boosted the gold price. The yellow metal had lost Rs 240 in last two days. At international front, gold hit the highest in over a year after the US jobs data got release, which was much weaker than expected. The escalating tension between North Korea and US also catered to high price as investors ran towards safe haven assets.

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