Connect with us

Business

Trai cuts ISD incoming call termination rate to 30 paise

Avatar

Published

🕒

on

IST

New Delhi :Telecom regulator Trai slashed international incoming call termination rate to 30 paise, from 53 paise, to curb the “grey route”, an official statement said.

The new rate will be effective from February 1.

“The Authority has reduced the termination charges payable by an International Long Distance Operator (ILDO) to the access provider in whose network the call terminates from Rs 0.53 per minute to Rs 0.30 per minute,” Trai said in a statement.

 

Telecom firms levy termination charge on operators from whose networks calls have been made, for transmitting them to the subscriber.

The Telecom Regulatory Authority of India said the new rule “shall come into force from the 1st February, 2018”.

In a background note, it mentioned existence of grey market which routes the ISD calls made to India by setting up illegal VoIP (voice over internet protocol) gateways which needs to curbed.

Trai said the menace of grey route poses serious security threat to the country apart from causing significant leakage in the revenue accruable to the country and its telecom service providers, and, proliferation of OTT (over-the-top) route for the carrying international voice traffic has many non-cost factors.

It said: “The Authority is of the view that, while deciding on the appropriate level of ITC (international termination charge) in the country, curbing the menace of grey route should be a more important regulatory priority than facilitating the shift of the international incoming traffic from OTT route to carrier route.”


Advertisement
Loading...
Comments

Business

MPC to meet six times during 2019-20: RBI

Agencies

Published

on

Mumbai: The Monetary Policy Committee (MPC), which decides on key interest rates, will meet six times during the next financial year, the Reserve Bank of India (RBI) said.

The first meeting of the six-member MPC to decide on the first bi-monthly monetary policy statement for 2019-20 will be held from April 2 to 4.

The policy will be announced on April 4. Headed by RBI Governor Shaktikanta Das, the committee also includes two representatives from the central bank and three external members.

 

The external members are Indian Statistical Institute professor Chetan Ghate, Delhi School of Economics Director Pami Dua and Indian Institute of Management-Ahmedabad professor Ravindra H Dholakia.

According to the schedule provided by the RBI, the second meeting of the MPC in the next fiscal will be held on June 3, 4 and 6; third meeting (August 5-7); fourth meeting (October 1, 3 and 4); fifth meeting (December 3-5) and sixth meeting (February 4-6, 2020).

Continue Reading

Business

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

Agencies

Published

on

New Delhi: The country’s largest lender State Bank of India (SBI) said it has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds.

“The Committee of Directors for Capital Raising at its meeting held today on 22 March 2019 deliberated and accorded approval to allot 12,513 non-convertible, taxable, perpetual, subordinated, unsecured Basel lll-compliant additional tier-I bonds, for inclusion in additional tier-I capital of the bank…aggregating to Rs 1,251.30 crore,” SBI said in a regulatory filing.

The bonds with a face value of Rs 10 lakh each bears a coupon rate of 9.45 per cent per anum payable annually with call option after 5 years or any anniversary date thereafter, it said. The bonds were subscribed on Friday, it added.

 

State Bank of India (SBI) also said the central board of the bank at its meeting held has accorded its approval for extension of validity period for raising equity capital of up to Rs 20,000 crore from market by way of follow-on public offer, qualified institutional placement, preferential allotment, rights issue or any other mode or a combination of these till March 31, 2020.

Continue Reading

Business

Sebi fines 4 entities Rs 27 lakh for fraudulent trading in BSE stock options

Agencies

Published

on

New Delhi: Markets regulator Sebi imposed a total penalty of Rs 27 lakh on four entities for indulging in fraudulent trade in illiquid stock options segment of BSE.

Umapati Oil Mill and Ginning Factory, Yudhbir Chhibbar, Kasturbhai Mayabhai Pvt Ltd and Vimladevi Shyamsunder Khetan are the four entities, according to Sebi’s separate orders.

fter observing a large-scale reversal of trades in the BSE’s illiquid stock options segment, Sebi conducted a probe from April 2014 to September 2015.

 

Following the probe, the regulator found that the trades executed by the entities were not genuine as they were reversed within few seconds with same counter parties with significant difference in price, resulting in profit to the entities.

Securities and Exchange Board of India (Sebi) said it was a deliberate attempt to deal in such a fashion and not a mere coincidence.

The trades executed by the entities were not genuine and created an appearance of artificial trading volumes, thereby violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations, Sebi noted.

Accordingly, a fine of Rs 8.7 lakh and Rs 8.4 lakh were imposed on Yudhbir Chhibbar and Vimladevi, respectively while a penalty of Rs 5 lakh each was levied on Umapati Oil Mill and Kasturbhai Mayabhai Pvt Ltd, totalling Rs 27.1 lakh.

In a separate order, Sebi imposed a total fine of Rs 6 lakh on four promoters of Artech Power Products for delayed disclosures to exchanges regarding their change in the shareholding in the company.

Ranjith Vijayan, I V Vijayan, Repsy Vijayan and Resmi Vijayan are the four promoters, according to Sebi’s order.

The promoters have deprived the vital information to the public by non-disclosure /delayed disclosure as mandated by the Takeover Regulations, Sebi noted.

Continue Reading

Latest News

Subscribe to The Kashmir Monitor via Email

Enter your email address to subscribe to The Kashmir Monitor and receive notifications of new stories by email.

Join 1,001,166 other subscribers

Archives

March 2019
M T W T F S S
« Feb    
 123
45678910
11121314151617
18192021222324
25262728293031
Advertisement