State-owned telecom firm BSNL is eyeing about ₹500 crore in the next one year from the mobile virtual network operator (MVNO) line of business.

A new class of players, virtual network operators or VNOs are entities providing telecom services like mobile, landline and internet but only as retailers for full—fledged telecom operators such as BSNL, MTNL and Airtel.

Oil marketing companies and banks may find themselves at a loss as the government tries to reduce Air India’s borrowings before putting up the debt-ridden national carrier for sale. The Civil Aviation Ministry and the Finance Ministry are in the process of meeting banks and oil companies to get haircuts for Air India’s debt, ET Now reported citing unnamed sources in the Civil Aviation Ministry.

According to the report, the two ministries are meeting banks to get haircuts for Air India’s debt and simultaneously are also holding meetings with oil companies to reduce Air India’s dues.

Russian security software firm Kaspersky Lab has filed anti-trust complaints with the European Commission and the German Federal Cartel Office against Microsoft for promoting its own security software at the expense of users, the media reported. Kaspersky claimed that Microsoft has been removing its software when users upgrade to Windows 10, and enabling its own Windows Defender solution.

State Bank of India (SBI) is understood to have received bids worth around Rs 22,000 crore in response to the placement of shares for around Rs 15,000 crore at a floor price of Rs 287.58 apiece. “The response has been very good and most of the bids came in at the top end of the price range,” said an investment banker. Investment bankers said among those who participated were Fidelity, Blackrock, Temasek, Capital, Wellington and Life Insurance Corporation. SBI will finalise the pricing later this week and will offer a discount of anywhere between 0% and 4% to the closing price on Monday.

Private sector lender Yes Bank today said it has received shareholder nod to raise Rs 20,000 crore in debt instruments through various routes. “The shareholders approved through special resolution the proposal to borrow/raise funds in Indian/foreign currency by the issue of debt securities including but not limited to non-convertible debentures, medium term notes and bonds up to a total amount of Rs 20,000 crore,” it said.

EW DELHI: GMR Infrastructure today said its subsidiary GMR Airports has been selected to develop, operate and manage the new international airport in Heraklion, Crete island of Greece, in partnership with Greek infrastructure major TERNA SA.

"GMR Airports will be the designated airport operator in the consortium for this project. Greece is a major international tourist destination, with 24 million tourists per annum," GMR Infrastructure said in a BSE filing.

BJP stalwart LK Advani, MP Murli Manohar Joshi and Union Minister Uma Bharati received a big relief from the special CBI court (Ayodhya Prakran) on Wednesday, getting exemption from personal appearance during the ongoing trial against them and nine others in the Babri demolition case.

Counsels of these BJP leaders had moved an application seeking exemption from personal appearance during the trial, due to the old age of Advani and Joshi, while Union Minister Uma Bharati had pleaded extensive travel as reason for her inability to appear before the court daily during the trial.

There were no raids on NDTV with the CBI not entering any office of the channel, Union Information and Broadcasting Minister M. Venkaiah Naidu said on Wednesday while dismissing allegations that the searches were an infringement on press freedom.

The Central Bureau of Investigation's raids on the properties of NDTV founder Prannoy Roy on June 5 on allegations of bank fraud had drawn criticism from several political parties as well journalist groups such as the Editors' Guild of India, Press Club of India and All India Newspaper Editors' Conference.

Shares of Reliance Communications tanked over 4% on Wednesday after the rating agencies Fitch and Moody's on Tuesday downgraded credit rating of the company on account of its fragile liquidity position and limited ability to pay back debt.

The stock hit an intraday low of Rs 19, down 4.2% on the BSE.

Oil and Natural Gas Corp. Ltd’s (ONGC’s) profitability in the March quarter was adversely impacted by certain one-off elements.

The oil producer had to shell out Rs2,444 crore towards royalty payments to the states of Gujarat and Assam. There was also a provision of Rs1,944 crore relating to employee pay revision.

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