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Govt to issue oil bonds worth Rs 10,300 cr to IOC, BPCL, HPCL
The government may issue Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) Rs 10,300 crore worth of oil bonds this week to compensate these companies for the losses they have incurred on fuel sales in last fiscal.

Centre asks state to aid in rail infra
Union minister of state for Railways K H Muniyappa has asked the state to submit a list of its demands for development of railway network in the state to the Centre before January 15, 2010.

News of the day

Bankers will remain bankers
We are always better analysts with a 20/20 hindsight. Indeed, an ex post reading about events leading up to a crisis appears logical, and often leaves one with the question about why the evolution of the crisis could not be seen and corrected in time. Still, policy-makers know that such a review and understanding are important to learning from mistakes. Restoring Financial Stability (Wiley) acts as a catalyst to that understanding by offering a comprehensive sequencing of the causes and progression of the build-up of the financial strains that, following the Lehman bust in September 2008, evolved into a full-blown global financial crisis. It is a collection of thematic essays by the faculty of the Stern School of Business at New York University.
Home Business

DoT relents; to seek Trai views on uniform licence fee

After initial resistance, the Department of Telecom (DoT) has relented and would now seek telecom regulator Telecom Regulatory Authority of India"s (Trai) recommendations on a proposal to bring in a uniform licence fee. - Core group for promoting local mfg of telecom infra - Vodafone launches per-second billing plan in Delhi - Mobile termination charges may be cut - RCom introduces per-second billing plan - Raja meets CEOs of telecos; says tariffs can be cut further - Justice S B Sinha joins TDSAT as Chairman DoT is considering a uniform licence fee of 8.5 per cent of Annual Gross Revenue (AGR) be it for Unified Access, National Long Distance call service, International Long Distance or others. "We may seek the recommendations of Trai on the methodology to remove arbitrage in the prevailing licence fee structures across various service providers with due consideration of the revenue receipts of the government exchequer and the growth of telecom services in India," official sources in the know said. The telecom industry has been demanding a uniform rate of licence fee to remove anomalies across various segments as it has been noted that operators were transferring their revenues in those services that attracted lower licence fee. Trai had written a letter in September to DoT stating that it is expected that the regulator would be consulted before the DoT takes a decision in the matter. Trai had said that the proposal would have wide implications for the entire telecom sector as well as on the revenues of the exchequer and thus the regulator should be consulted and consultation process should be carried out before taking a final decision.


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