New Delhi, May 31: The cabinet on Thursday approved a new telecom policy that proposes to abolish roaming charges on mobile phones and allow users to retain the same number across the country.
The cabinet approved the National Telecom Policy (NTP) 2012, a senior minister told reporters after the meeting of the cabinet.
The NTP 2012 aims to provide free roaming to telecom users and allow them to retain the mobile number even outside their circles without having to pay any extra charge.
Thiruvananthapuram, Jul 31: In Kerala, the prisoners will now work as employees in petrol pumps and take home a salary, as the Kerala government has rolled out Petrol Pumps from jail premises in association with Indian Oil Corporation.
Speaking to news agency, Rishiraj Singh, Jail DGP said that initiative to employ jail inmates in petrol pumps was taken as in Kerala there are many projects of which prisoners are a part of and are being employed.
"In petrol pumps, 15 jail inmates will be employed at each pump. The outlets of Thiruvananthapuram, Viyyur and Cheemeni jails have been started to function from today.
Many express doubt whether the prisoners will try to escape. But my experience working with them prove otherwise. They are managing five cafeterias in the state and selling food prepared by them. We pay them Rs 220 per day for their work and the jail inmates are running it successfully particularly at COVID-19 times," he said.
The Indian Oil Corporation is investing around Rs 9.5 crore to set up four petrol pumps at the jail premises. The share of the jail department is Rs 30 lakh for setting up petroleum outlet. Other than the three presently, it will also be started in Kannur jail.
"The land has been leased to the Indian Oil Corporation for 30 years. The prisoners are employed here and for that, they underwent a training in petrol pump of IOC and the uniform will also be supplied by them, " said Rishiraj Singh About 25 cents in Thiruvananthapuram, 39 cents in Kannur, 25 cents in Viyur and 25 cents in Cheemeni open jail have been allotted.
Through this, the government will get Rs 5.9 lakh per month in rent.
It also plans to expand the project in the future by setting up a CNG and electrical charging station.
The petrol pumps will be also accompanied by public comfort stations.
Mumbai, Feb 6: The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth.
The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
"Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain status quo,” the Monetary Policy Committee (MPC) said.
The six-member committee voted unanimously to hold rates, but also said that there is “policy space available for further action”.
Between February and October 2019, the RBI had reduced repo rate by 135 basis points.
Mumbai, Jun 16: Saudi Arabia’s sovereign wealth fund, PIF, is all set to pick up a stake in Jio Platforms, which would complete 25% of Jio’s equity dilution to the investors, said a report by the Gulf News.
Jio Platforms is part of the Reliance Industries empire owned by Mukesh Ambani. The Public Investment Fund (PIF) will acquire 2.33% for an estimated $1.5 billion, the report said.
So far, Jio Platforms has raised investment from 10 different global investors in seven weeks, the latest being TPG Capital buying 0.93% equity for Rs 4,547 crore and private equity firm L Catterton picking up a 0.39% stake for Rs 1894.50 crore.
Jio Platforms has raised a total of Rs 1.04 lakh crore so far from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.
With PIF coming on board, Jio Platforms would have diluted 25% of its equity. That's the maximum they intend to dilute to financial investors, which includes Mark Zukerberg's Facebook.
Any new investors coming on board in future will have to be "strategic investors, a tech giant, for instance," said a source who was part of the deal-making process, the report said.
In recent days, Jio Platforms, which will merge telecom, content streaming, gaming and ecommerce features into its app, has seen Abu Dhabi's Mubadala and ADIA pick up significant stakes amounting to $1.2 billion and $750 million, respectively.
Reliance Industries' owner, Ambani, Asia's richest man, has been on an investor acquisition spree, with the likes of Facebook and private equity majors such as KKR and Silver Lake Capital investing in Jio Platforms.
The contours of the deal with Saudi Arabia's PIF was finalised during Ramadan. "It was always Mukesh Ambani's wish to have a special relationship with Saudi Arabia and the UAE," said Anshuman Mishra, a London-based confidante and family friend of the Ambani family of longstanding, Gulf News quoted as saying.
He has also worked extensively with Gulf sovereign wealth funds over the years.
"Saudi Arabia's coming in to close the financial investor round in Jio is indicative of the special nature of the relationship. This is also indicative of the multi-billion-dollar partnership announced last year with Saudi Aramco.
"This is a major success for the present Indian government's foreign policy initiative in the gulf and symbolic of India's significance in the GCC," it said.
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