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Weekend news neelam

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  • 2. DoCoMo launches 3G in Maharashtra
    • The Tata DoCoMo, the GSM arm of Tata Teleservices formally launches its 3G services in Maharashtra.
    • 3. 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.
    • The company has also announced attractive & innovative plans like small screen plan & large screen plans to upgrade to 3G life.
    • 4. The plans options are ranging from Rs 750 to Rs 200 offering 750-5000 free call minutes.
  • 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.
    • 5. 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.
    • 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.
    • 6. Vodafone has been asked to deposit this money & furnish guarantee after it lost a legal battle over a tax claim.
  • 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.
    • 7. The service termed as Inter Mobile Payment Service (IMPS) will support inter bank transaction.
    • 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.
  • 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.
    • 8. 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.
    • The TATA Group has also been large borrowers in euro to fund their aquisitions like Jagure land recover & Corus.
  • Thank You…………….