Weekend news neelam

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Weekend news neelam

  1. 1. Presented by- NEELAM MONGA
  2. 2. DoCoMo launches 3G in Maharashtra  The Tata DoCoMo, the GSM arm of Tata Teleservices formally launches its 3G services in Maharashtra.  The 3G network, set up with assistance of NTT DoCoMo, support high speed internet access with the speed up to 21.1 mbps & also support high definition voice.
  3. 3.  The company has also announced attractive & innovative plans like small screen plan & large screen plans to upgrade to 3G life.  The plans options are ranging from Rs 750 to Rs 200 offering 750-5000 free call minutes.
  4. 4. Vodafone seeks foreign banks backing  Mobile service provider Vodafone is in talks foreign banks to provide counter guarantee to nationalized bank in India for sum of 8500 crore.  This fellows an order from supreme court last week that Vodafone will have to furnish bank guarantee of a nationalized bank & set aside 2500 crore in cash to the court.
  5. 5.  Most Indian banks have huge exposure to the telecom sector & are not keen to increase their lending to this industry. However if foreign bank provide a counter guarantees, the credit exposure of Indian banks will be to foreign banks and not to Vodafone.  Vodafone has been asked to deposit this money & furnish guarantee after it lost a legal battle over a tax claim.
  6. 6. Free instant mobile fund transfer unveiled  The national payment corporation of India (NPCI) has launch instant fund transfer service through mobile phones, which allows customer of bank to sent money to customer of another bank.  The service termed as Inter Mobile Payment Service (IMPS) will support inter bank transaction.
  7. 7.  Six Banks- State Bank of India, Axis Bank, ICICI Bank, Union Bank of India &Yes Bank- have already signed with NPCI for the service while HDFC Bank will join then soon.
  8. 8. SBI likely to price its Eurobond issue this week  The state bank of India is likely to announce the pricing of its 500m euro bond.  The bank has appointed six European banks to raise the banks funds. The banks include: Deutshe bank, Stan- chart, HSBC, BNP Paribas, Barlcays & credit Agricole CIB.
  9. 9.  The TATA Group has also been large borrowers in euro to fund their aquisitions like Jagure land recover & Corus.
  10. 10. Thank You…………….

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