MUMBAI: Aircel and Reliance Communications have accused larger rivals Bharti AirtelBSE 0.75 %, Idea Cellular and Vodafone India of trying to poach subscribers through misleading campaigns that claimed the smaller telcos were shutting down their overall and enterprise voice businesses, respectively.

Both Aircel and RCom, struggling to stay afloat after attempts at merging their businesses fell through recently, have complained to the telecom department (DoT) and the regulator, seeking action against the three service providers.

Five years ago, a firm started an optic fibre broadband service in a gated community of Delhi. It offered a 20 Mbps plan to 80 subscribers. Gradually, the company failed to maintain the advertised speed as its subscription base grew more than a hundred per cent. A technical executive of the firm said, "We have nearly 200 connections on the same infrastructure. Most consumers do not know what speed they have purchased."

Information technology (IT) bellwether Infosys on Friday said its share buyback offer would begin on November 30 and close on December 14.

The IT services major issued the letter of offer for the same. It said the letter along with the necessary forms would be dispatched to the eligible shareholders who appeared on the record date of November 1.

Reliance General Insurance Company Ltd on Friday said it has signed a comprehensive Bancassurance agreement with YES Bank to distribute its various products.

In a statement issued here, Reliance General - a subsidiary of Reliance Capital Ltd - said the bancassurance agreement - corporate agency agreement - has been inked to distribute insurance products to the bank's customers.

The Enforcement Directorate (ED) on Friday issued a notice to former Bihar deputy chief minister Tejashwi Yadav and former Bihar chief minister Rabri Devi, asking them to appear on November 20 and November 24 respectively, in connection with the IRCTC hotel scam.

Earlier on November 13, the ED questioned the former Bihar deputy chief minister in connection with the scam.

Mumbai: A working group constituted by the Reserve Bank of India (RBI) said it favours a uniform method in extending facilities to hedge commodity price risk in overseas markets that is agnostic to the place of procurement.

The group, set-up in September 2016 to review the norms for hedging of commodity price risk by residents in the overseas markets, suggested that hedging of only direct commodity price risk may be allowed for now because of the complexity in assessing indirect risks faced by the users.

Bengaluru: Tata Consultancy Services Ltd (TCS) will build both technologies and talent rather than buy it from outside. TCS, India’s largest software services firm, maintains that it is the company’s DNA to build technologies and groom leaders to take up senior roles, even if implementing this strategy means the company has to sacrifice some growth in the short term.

“I don’t know if insular would be the right word but definitely, we believe in building talent and technologies in house,” chief executive officer Rajesh Gopinathan said in an interview on Wednesday.

ICICI Bank on Thursday said it is tying up with Paytm to offer short-term instant digital credit on the latter’s e-commerce platform. The new offering will enable customers common to the bank and Paytm to access instant credit to pay for movie tickets, bills, flight tickets and other goods. Last month, HDFC Bank had told FE that it would offer a digital credit line to users of its PayZapp wallet. ICICI Bank’s product is based on a big data-based algorithm for real-time credit assessment of customers, which will use a combination of elements such as credit bureau checks, purchase patterns and frequency of purchases to ascertain the credit–worthiness of a customer.

The National Highways Authority of India (NHAI) is understood to be considering a change in wording of future contracts to avoid conflicts with road developers, such as the ongoing cases in which it has barred companies from bidding for future projects. NHAI’s executive committee held a meeting with the National Highway Builders Federation (NHBF) on Thursday during which NHAI agreed to consider NHBF’s suggestion to reconsider replacing the word “termination” with “cessation” or other similar words or phrases. In the ongoing case of developers who have been listed as defaulters and barred from bidding for future projects, the issue arose because developers had to invoke the termination clause, thereby getting themselves blacklisted by NHAI.

To help increase developers’ productivity and simplify app development, Microsoft has announced new data platform technologies and cross-platform developer tools. The company launched a new AI-powered platform “Azure Databricks” during an event for developers late Thursday. Designed in collaboration with the founders of Apache Spark, Azure Databricks analytics platform delivers one-click setup, streamlined workflows and an interactive workspace. The platform will enable organisations to provide self-service analytics and machine learning over all data with enterprise-grade performance and governance, Microsoft said in a statement.

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