The Telecom Regulatory Authority of India (Trai) has instructed Idea Cellular to deposit Rs 2.97 crore in the telecom consumer education fund for overcharging subscribers. Trai said the country’s third-largest telecom operator had collected the amount by overcharging its subscribers in four states during May 2005 to January 2007. In May 2005, the department of telecom (DoT) amended licence conditions to allow inter-service area connectivity between telecom operators in Maharashtra, West Bengal, Tamil Nadu and Uttar Pradesh. Following this, calls within these four states were treated as intra-service area calls, or simply put local calls, for the purpose of call routing and levy of access deficit charge (ADC).

After years of dithering, composite liquefied petroleum gas (LPG) bottles are set to be tested in the Indian markets, with the state-run Hindustan Petroleum (HPCL) getting the go-ahead from the ministry of petroleum and natural gas. Though attempts to test the fibre-made bottles, safer and lighter than the metallic cylinders in use, can be traced back to 2012, these haven’t hit the market yet due to the lack of requisite approvals from various agencies such as Indian Standards Institute. The relatively higher cost of the composite cylinders has also been hurdle. “The ministry has given permission to HPCL for testing the cylinders,” said a ministry official requesting anonymity.

As over 50 million Small and Medium Businesses (SMBs) in India look to move to a secure Cloud, Microsoft — with its end-to-end offerings with New-Age capabilities — is set to help them evolve and adopt an “intelligent” Cloud, says Microsoft India President Anant Maheshwari. Maheshwari, who believes that almost every company will eventually become a software one at some point of time with the fourth industrial revolution, an “intelligent” Cloud will chart their digital journey. There are large enterprises that will have a dedicated infrastructure, teams and resources for Cloud adoption.

CHENNAI: India is now the largest two wheeler market globally, by volume, for Japanese automobile major Honda. Honda Motorcycle & Scooter India's (HMSI) volume contribution globally hit 32% in the first quarter of this financial year -its highest ever so far.

According to top HMSI officials the company's two wheeler sales grew 20% in the April-July period -compared to 9% growth clocked by the industry -with scooters growing 19% and motorcycles growing 20% including domestic sales and exports.

Air India is e-auctioning 41 apartments in Mumbai in the first phase of its property sale and 12 in others cities in the second phase. The properties to be sold in the second tranche include 35 residential flats and land banks.

Though the airline has kept a reserve price of Rs 315 crore for its Mumbai properties, it hopes to make around Rs 500 crore from the sale, and looks to make a similar amount from the sale of properties in other cities, according to sources.

In one of the biggest real estate deals in the country, the board of directors of leading developer DLF has approved a 33.34 per cent stake sale in its rental arm — DLF Cyber City Developers Ltd (DCCDL) — for Rs 11,900 crore to an affiliate of Singapore’s GIC. The deal pegs the value of DCCDL at Rs 35,617 crore, the company declared in a BSE filing late on Friday evening.

In March, DLF had almost finalised a transaction to sell 40 per cent in the rental subsidiary for an estimated Rs 13,000 crore to the GIC affiliate. However, after weeks of deliberation leading up to a long board meeting on Friday, a decision was taken to sell a lower stake.

The Supreme Court’s declaring privacy as a fundamental right will enhance citizens’ trust in digital services and help in their wider adoption, IT industry body Nasscom said today. In a landmark decision, a nine-judge Constitution bench headed by Chief Justice J S Khehar has ruled that “right to privacy is an intrinsic part of Right to Life and Personal Liberty under Article 21 and entire Part III of the Constitution”. Nasscom President R Chandrashekhar said the ruling also “significantly boosts India’s attractiveness as a safe destination for global sourcing”. It will ensure that protection of citizen’s privacy is a “cardinal principle” in India’s growing digital economy, he said.

Mahindra Agri Solutions Ltd is expecting its turnover to almost double to Rs 1,500 crore in the current fiscal on new product launches, good monsoon and business acquisition in Europe, a top company official said today. Part of the Mahindra & Mahindra Ltd, it today launched an advanced insecticide ‘Tromph’ to be used mainly in rice and cotton crops and aims to have 20 per cent share in this Rs 150 crore segment, its MD & CEO Ashok Sharma said. “We expect our turnover to almost double at about Rs 1,500 crore this financial year from Rs 800 crore last year.

With lenders’ bets on project loans turning awry, ICICI Bank’s Chanda Kochhar has said project financing is set to undergo fundamental changes wherein greater focus will be on planning and diligence. “To bring back investments, the fundamentals of project financing will have to change. Projects will have to be much more completely tied-up before they get funded,” Kochhar said at the launch of a book, edited by former RBI deputy governor Rakesh Mohan, here last evening. The ICICI Bank’s managing director and chief executive said this shall include backward and forward linkages, land availability, natural resources and financial closures. She, however, was quick to add that project finance will continue to be done by banks.

Petrol price has been on a rise, and how. But unlike earlier, this time there has been no fuss around the increase in the price of a traditionally politically sensitive item, on which even a minuscule hike would lead to strikes and street protests in the good old times. Many of you might be surprised to know that this time petrol price has risen by a whopping Rs 5.27 per litre in less than two months, and that too barely to anyone’s notice.

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