General Affairs
Why is the GSLV - FO 5 launch so special?
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Gnawing anxiety posed by a 40-minute delay in the launch from the second pad at the Satish Dhawan Rocket Launching Station at Sriharikota may have worried some about the 10th flight of India's Geosynchronous Satellite Launch Vehicle (GSLV).However the textbook perfect launch of the GSLV - FO 5, the class of vehicles designed to lob 2 to 2.5 tonne class of satellites into geostationary orbits. The placing of the 2,211 kg advanced weather satellite INSAT - 3DR, as programmed 17 minutes after lift - off, has demonstrated India's prowess with the problematic cryogenic engine technology.
HISTORY OF CRYOGENIC ENGINE IN INDIA
This is the first time an operational flight of the GSLV, the top stage of the launch vehicle is powered by a made-in-India cryogenic engine. The first test flight of the GSLV with a cryogenic upper, or third stage, was in April 2001 - a failure. Eight flights followed in the next 14 years - three succeeded, four failed and one was a partial success. Significantly, of these, five flew with a Russian cryogenic engine onboard while the other three used indigenously developed ones. The first successful test flight using the Russian engine was in May 2003 and with the indigenous one in January 2014. All this makes Thursday afternoon's flight, notwithstanding minor glitches and a short time delay, very special.
ISRO SELF SUFFICIENT
It makes the Indian Space Research Organisation self sufficient in launch capabilities. It opens vistas for India to sell its GSLV rockets as a heavier launcher, at a competitive price, on the international market to get a share of the global $300B satellite launch business.
HOW IT WORKS
The INSAT - 3DR weather satellite that the rocket ferried on its way to a geostationary transfer orbit from where the satellite used its built - in propulsion systems to maneouvre into its eventual geosynchronous orbit. The new satellite possesses an atmospheric sound system which allows it to map vertical changes in humidity, temperature and ozone content in the Earth's atmosphere. This is in continuation of the INSAT - 3D weather satellite mission which was launched in 2013. This belongs to the larger class of meteorological satellites operated by the Indian Space Research Organization. INSAT 3DR has an operational life of at least eight years and is equipped with modern gadgetry to study weather patterns and to help in surface-level search and rescue operations.
THE FUTURE
A successor satellite, INSAT 3DS is expected to operate from 2022 to 2029. INSAT 3B and 3C are not operational.
Gnawing anxiety posed by a 40-minute delay in the launch from the second pad at the Satish Dhawan Rocket Launching Station at Sriharikota may have worried some about the 10th flight of India's Geosynchronous Satellite Launch Vehicle (GSLV).However the textbook perfect launch of the GSLV - FO 5, the class of vehicles designed to lob 2 to 2.5 tonne class of satellites into geostationary orbits. The placing of the 2,211 kg advanced weather satellite INSAT - 3DR, as programmed 17 minutes after lift - off, has demonstrated India's prowess with the problematic cryogenic engine technology.
HISTORY OF CRYOGENIC ENGINE IN INDIA
This is the first time an operational flight of the GSLV, the top stage of the launch vehicle is powered by a made-in-India cryogenic engine. The first test flight of the GSLV with a cryogenic upper, or third stage, was in April 2001 - a failure. Eight flights followed in the next 14 years - three succeeded, four failed and one was a partial success. Significantly, of these, five flew with a Russian cryogenic engine onboard while the other three used indigenously developed ones. The first successful test flight using the Russian engine was in May 2003 and with the indigenous one in January 2014. All this makes Thursday afternoon's flight, notwithstanding minor glitches and a short time delay, very special.
ISRO SELF SUFFICIENT
It makes the Indian Space Research Organisation self sufficient in launch capabilities. It opens vistas for India to sell its GSLV rockets as a heavier launcher, at a competitive price, on the international market to get a share of the global $300B satellite launch business.
HOW IT WORKS
The INSAT - 3DR weather satellite that the rocket ferried on its way to a geostationary transfer orbit from where the satellite used its built - in propulsion systems to maneouvre into its eventual geosynchronous orbit. The new satellite possesses an atmospheric sound system which allows it to map vertical changes in humidity, temperature and ozone content in the Earth's atmosphere. This is in continuation of the INSAT - 3D weather satellite mission which was launched in 2013. This belongs to the larger class of meteorological satellites operated by the Indian Space Research Organization. INSAT 3DR has an operational life of at least eight years and is equipped with modern gadgetry to study weather patterns and to help in surface-level search and rescue operations.
THE FUTURE
A successor satellite, INSAT 3DS is expected to operate from 2022 to 2029. INSAT 3B and 3C are not operational.
Bihar topper scam impact: Examination sheets to be evaluated digitally in the state
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Call it an impact of the infamous toppers scam that rocked the country, the Bihar School of Examination Board (BSEB) has decided that from next year onwards, the answer sheets would be evaluated digitally.
The Board, at present, is undergoing a massive revamp as far as conducting free and fair examinations is concerned.
HOW THE NEW SYSTEM WILL WORK
In the new evaluation system, the answer sheets of the candidates will bear a barcode and there would not be any physical movement of answer sheets from one district to another.
The answer sheets of a district would be kept at a room. These answer sheets would then be scanned using high-speed scanners and uploaded to a central server from where they will be electronically transferred to computers installed at evaluation centers in the districts.
The evaluators will check the answer papers and award marks electronically, after which the computer would calculate the total marks awarded.
The results too will be reverted back to the central server for final computation.
This entire process will approximately cost Rs 2 crore to the BSEB.
"The entire process will be less cumbersome and answer sheets would be evaluated faster. There will be no chance of tampering with the answer sheets or the answer sheets getting misplaced through this method", informed Anand Kishore, the Chairman of BSEB.
AADHAR TO BE LINKED TO EXAMINATION FORMS
In a bid to clean the murky examination system further, post the toppers scam in the state, the BSEB has already announced that a new process will start from nextyear in which Adhar card number of the students will be linked with their examination forms to avoid duplication.
This new initiative is the first to be implemented by any state board in the country. The move will not only add to greater transparency in the exam process but also facilitate easy access to documents.
"When the student will apply for examinations, they will have to specify their Aadhar card number. Those who do not have Aadhar card are requested to apply for the same in order to benefit from the new initiative of the BSEB", said Kishore.
Call it an impact of the infamous toppers scam that rocked the country, the Bihar School of Examination Board (BSEB) has decided that from next year onwards, the answer sheets would be evaluated digitally.
The Board, at present, is undergoing a massive revamp as far as conducting free and fair examinations is concerned.
HOW THE NEW SYSTEM WILL WORK
In the new evaluation system, the answer sheets of the candidates will bear a barcode and there would not be any physical movement of answer sheets from one district to another.
The answer sheets of a district would be kept at a room. These answer sheets would then be scanned using high-speed scanners and uploaded to a central server from where they will be electronically transferred to computers installed at evaluation centers in the districts.
The evaluators will check the answer papers and award marks electronically, after which the computer would calculate the total marks awarded.
The results too will be reverted back to the central server for final computation.
This entire process will approximately cost Rs 2 crore to the BSEB.
"The entire process will be less cumbersome and answer sheets would be evaluated faster. There will be no chance of tampering with the answer sheets or the answer sheets getting misplaced through this method", informed Anand Kishore, the Chairman of BSEB.
AADHAR TO BE LINKED TO EXAMINATION FORMS
In a bid to clean the murky examination system further, post the toppers scam in the state, the BSEB has already announced that a new process will start from nextyear in which Adhar card number of the students will be linked with their examination forms to avoid duplication.
This new initiative is the first to be implemented by any state board in the country. The move will not only add to greater transparency in the exam process but also facilitate easy access to documents.
"When the student will apply for examinations, they will have to specify their Aadhar card number. Those who do not have Aadhar card are requested to apply for the same in order to benefit from the new initiative of the BSEB", said Kishore.
Kashmir unrest: PDP whispers turn into clamours for CM Mehbooba Mufti to resign
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For over a month it was being discussed in whispers that Mehbooba Mufti was failing in controlling the unrest in Kashmir and she should step down. Some in her own party PDP were becoming increasingly uncomfortable with the emerging situation. The whispers are now threatening to become loud noises.
Senior PDP leader Muzaffar Baig said quite clearly today to India Today that the PDP-BJP government had failed in implementing the agenda of alliance and working for the people. He also said that Mehbooba Mufti had always held that she will step down if she was unable to live up to the expectations of the people. This has for the first time given a clear indication of the rumblings within the PDP.
However, Baig tried to tone down his attack by saying Mehbooba Mufti treats him like an 'elder brother' and his advice to her is not to run away due to the 'uprising' but to fight it out. He also immediately blamed the BJP for lack of development in Kashmir saying "the BJP has been busy with elections in the rest of the country and the PDP was left to fend on its own."
Mehbooba Mufti took charge of the state this year in April as the first women chief minister of Jammu and Kashmir. Known for peddling soft-separatism, she seemed to have been taking an unusually tough line on Hurriyat during the current unrest but also on the other hand pressing the Centre to talk to the separatists for normalising the situation.
Many in the PDP fear that if she does not step down, the party will lose its credibility in the valley.
For over a month it was being discussed in whispers that Mehbooba Mufti was failing in controlling the unrest in Kashmir and she should step down. Some in her own party PDP were becoming increasingly uncomfortable with the emerging situation. The whispers are now threatening to become loud noises.
Senior PDP leader Muzaffar Baig said quite clearly today to India Today that the PDP-BJP government had failed in implementing the agenda of alliance and working for the people. He also said that Mehbooba Mufti had always held that she will step down if she was unable to live up to the expectations of the people. This has for the first time given a clear indication of the rumblings within the PDP.
However, Baig tried to tone down his attack by saying Mehbooba Mufti treats him like an 'elder brother' and his advice to her is not to run away due to the 'uprising' but to fight it out. He also immediately blamed the BJP for lack of development in Kashmir saying "the BJP has been busy with elections in the rest of the country and the PDP was left to fend on its own."
Mehbooba Mufti took charge of the state this year in April as the first women chief minister of Jammu and Kashmir. Known for peddling soft-separatism, she seemed to have been taking an unusually tough line on Hurriyat during the current unrest but also on the other hand pressing the Centre to talk to the separatists for normalising the situation.
Many in the PDP fear that if she does not step down, the party will lose its credibility in the valley.
Navjot Sidhu launches Awaaz-e-Punjab, discloses why he didn't join Kejriwal
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Cricketer-turned-politician Navjot Singh Sidhu announced the launch of Awaaz-e-Punjab front today and simultaneously launched a scathing attack on Delhi Chief Minister Arvind Kejriwal. He did not spare the ruling Badals or his former party, the BJP, either.
Breaking his silence over his quitting the BJP and Rajya Sabha seat and also his negotiations with Kejriwal's Aam Aadmi Party (AAP), Sidhu said in a press conference in Chandigarh that his resigning from the Rajya Sabha seat had nothing to do with Kejriwal.
He said he quit the Upper House because he was asked to campaign for the Badals in the forthcoming Assembly elections in Punjab early next year. When he refused, he was then asked by the BJP leadership not to visit Punjab. "This was not acceptable to me. That is why I resigned from the Rajya Sabha," he said.
Revealing the details about his talks with Kejriwal, he said that the Delhi Chief Minister did not want him to contest the Assembly elections. "He wanted to use me as a decoration piece and only campaign for AAP. He offered a ticket to my wife (Navjot Kaur Sidhu) and make her a minister," he said.
Sidhu expressed strong objection to Kejriwal's offer and said that the Delhi CM felt insecure. "He wanted a four-term Lok Sabha MP who had also rejected the Rajya Sabha not to contest," he disclosed, ridiculing Kejriwal's offer.
The former BJP leader also hit out at Kejriwal saying he was behaving like the East India Company which had come with 40,000 troops but had ruled over 40 crore Indians by dividing them. "My interaction with Kejriwal was highly disappointing," he said.
"Bholi soorat par dil ke khotey, naam badey aur darshan chhotey… Door ke dhol suhaane lagtey hain," he said.
Hitting out further at Kejriwal, Sidhu said he thinks only he is honest. "While Kejriwal believes in taking credit, we believe in working," he said.
The former cricketer announced that Awaaz-e-Punjab (AeZ) is not a political party but at this stage it is a forum of "like-minded good Punjabis". He did not specify whether or when it will be converted to a political party. However, he said resurrection, redemption and revival of Punjab was AeM's aim.
He alleged that the Akalis and the Congress are the same and said he was offered money to stay out of Punjab. He said the Akalis wanted him to abandon Punjab which was not acceptable to him.
He said Punjab was languishing under the Badals. Punjab has been looted and is debt ridden, he said.
"AWAAZ-E-PUNJAB THE CALL OF INQUILAB"
He said that the Awaaz-e-Punjab was the call of inquilab. He said, "Awaaz e Punjab ek inquilaabi awaaz hai." He said that he and his partners in the party, the Bains brothers and Pargat Singh, had come to tell the people of their intentions and to answer burning questions.
Taking on the Badal-led government in Punjab, Sidhu said that the foundation of a good democratic government was "by the people, for the people and of the people, but in Punjab, the government is all about one family."
In an indirect reference to the the ruling party in the state, he said, "Log kehte hain 'kaale Badal chhat ke suraj nikalkna chahiye' (People say that the dark clouds should give way to the Sun.)"
Cricketer-turned-politician Navjot Singh Sidhu announced the launch of Awaaz-e-Punjab front today and simultaneously launched a scathing attack on Delhi Chief Minister Arvind Kejriwal. He did not spare the ruling Badals or his former party, the BJP, either.
Breaking his silence over his quitting the BJP and Rajya Sabha seat and also his negotiations with Kejriwal's Aam Aadmi Party (AAP), Sidhu said in a press conference in Chandigarh that his resigning from the Rajya Sabha seat had nothing to do with Kejriwal.
He said he quit the Upper House because he was asked to campaign for the Badals in the forthcoming Assembly elections in Punjab early next year. When he refused, he was then asked by the BJP leadership not to visit Punjab. "This was not acceptable to me. That is why I resigned from the Rajya Sabha," he said.
Revealing the details about his talks with Kejriwal, he said that the Delhi Chief Minister did not want him to contest the Assembly elections. "He wanted to use me as a decoration piece and only campaign for AAP. He offered a ticket to my wife (Navjot Kaur Sidhu) and make her a minister," he said.
Sidhu expressed strong objection to Kejriwal's offer and said that the Delhi CM felt insecure. "He wanted a four-term Lok Sabha MP who had also rejected the Rajya Sabha not to contest," he disclosed, ridiculing Kejriwal's offer.
The former BJP leader also hit out at Kejriwal saying he was behaving like the East India Company which had come with 40,000 troops but had ruled over 40 crore Indians by dividing them. "My interaction with Kejriwal was highly disappointing," he said.
"Bholi soorat par dil ke khotey, naam badey aur darshan chhotey… Door ke dhol suhaane lagtey hain," he said.
Hitting out further at Kejriwal, Sidhu said he thinks only he is honest. "While Kejriwal believes in taking credit, we believe in working," he said.
The former cricketer announced that Awaaz-e-Punjab (AeZ) is not a political party but at this stage it is a forum of "like-minded good Punjabis". He did not specify whether or when it will be converted to a political party. However, he said resurrection, redemption and revival of Punjab was AeM's aim.
He alleged that the Akalis and the Congress are the same and said he was offered money to stay out of Punjab. He said the Akalis wanted him to abandon Punjab which was not acceptable to him.
He said Punjab was languishing under the Badals. Punjab has been looted and is debt ridden, he said.
"AWAAZ-E-PUNJAB THE CALL OF INQUILAB"
"AWAAZ-E-PUNJAB THE CALL OF INQUILAB"
He said that the Awaaz-e-Punjab was the call of inquilab. He said, "Awaaz e Punjab ek inquilaabi awaaz hai." He said that he and his partners in the party, the Bains brothers and Pargat Singh, had come to tell the people of their intentions and to answer burning questions.
Taking on the Badal-led government in Punjab, Sidhu said that the foundation of a good democratic government was "by the people, for the people and of the people, but in Punjab, the government is all about one family."
In an indirect reference to the the ruling party in the state, he said, "Log kehte hain 'kaale Badal chhat ke suraj nikalkna chahiye' (People say that the dark clouds should give way to the Sun.)"
Cyberabad Police cracks down on private financers, seizes Rs 56 lakh cash
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The Special Operations Team (SOT) of Cyberabad East Commissionerate today arrested two persons for running illegal daily finance racket and seized cash worth Rs 56 lakh.
The team also recovered 150 bank cheques worth Rs 9,26,24,000, sale deeds and other documents from their possession.
The two arrested accused have been identified as A Srinivas and P Veeresham. There is one Krishna Murthy who is still absconding.
ACCUSED CHEATED INNOCENT PEOPLE
According to the police, the accused A. Srinivas has been running illegal daily finance at his residence situated at Sai Enclave Colony, Habsiguda, Nacharam without having any registration on his name from concerned authorities.
He has also been collecting high rate of interest from 18 per cent to 20 per cent. He was providing hand loans and daily finance to the customers by taking the cheques, blank cheques, sale deed documents, Patta pass books and title deeds, promissory notes of the customers for his surety and security.
It is also alleged that Srinivas was cheating innocent public by doubling the interest when the customer failed to pay the daily installments with the help of P. Veeresham and Krishna Murthy.
The police has booked all the three accused in two cases under sections 420, 506 IPC and sections 3, 5, 8, 10 and 13 of the AP (Telangana Area) Money Lenders Act-1349.
The Cyberabad Police has also requested the victims who have been cheated by private finance companies to came forward and lodge complaint in oral or written.
The Special Operations Team (SOT) of Cyberabad East Commissionerate today arrested two persons for running illegal daily finance racket and seized cash worth Rs 56 lakh.
The team also recovered 150 bank cheques worth Rs 9,26,24,000, sale deeds and other documents from their possession.
The two arrested accused have been identified as A Srinivas and P Veeresham. There is one Krishna Murthy who is still absconding.
ACCUSED CHEATED INNOCENT PEOPLE
According to the police, the accused A. Srinivas has been running illegal daily finance at his residence situated at Sai Enclave Colony, Habsiguda, Nacharam without having any registration on his name from concerned authorities.
He has also been collecting high rate of interest from 18 per cent to 20 per cent. He was providing hand loans and daily finance to the customers by taking the cheques, blank cheques, sale deed documents, Patta pass books and title deeds, promissory notes of the customers for his surety and security.
It is also alleged that Srinivas was cheating innocent public by doubling the interest when the customer failed to pay the daily installments with the help of P. Veeresham and Krishna Murthy.
The police has booked all the three accused in two cases under sections 420, 506 IPC and sections 3, 5, 8, 10 and 13 of the AP (Telangana Area) Money Lenders Act-1349.
The Cyberabad Police has also requested the victims who have been cheated by private finance companies to came forward and lodge complaint in oral or written.
Business Affairs
President Pranab Mukherjee signs GST bill into law
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President Pranab Mukherjee on Thursday signed the Goods and Services Tax (GST) Bill, paving way for it to become law.
GST's signing into law comes after 16 of the 29 states ratified the bill over the past few days. In August, the bill was unanimously passed both in the Rajya Sahba and Lok Sabha.
The bill had to be ratified by a majority of states before it could become law.
Finance Minister Arun Jaitley on Wednesday stressed on the urgency of the implementation of the GST Bill saying the government is "racing against time" to meet the 1 April 2017 deadline.
Jaitley was speaking at the India Summit organized by The Economist on Wednesday.
"It is a very stiff target. We are running against time. But I would certainly like to give it a try," he said.
The implementation of GST will convert the country into "one seamless market" and facilitate smooth transfer of goods and services, he said.
Describing it as an important step forward, Jaitely said the implementation of GST will lead to a "more efficient system" and "plug the leakages" in the economy.
He also stressed on the GST's overall impact saying "in the long run it may stabilize the tax rates and even bring them down".
President Pranab Mukherjee on Thursday signed the Goods and Services Tax (GST) Bill, paving way for it to become law.
GST's signing into law comes after 16 of the 29 states ratified the bill over the past few days. In August, the bill was unanimously passed both in the Rajya Sahba and Lok Sabha.
The bill had to be ratified by a majority of states before it could become law.
Finance Minister Arun Jaitley on Wednesday stressed on the urgency of the implementation of the GST Bill saying the government is "racing against time" to meet the 1 April 2017 deadline.
Jaitley was speaking at the India Summit organized by The Economist on Wednesday.
"It is a very stiff target. We are running against time. But I would certainly like to give it a try," he said.
The implementation of GST will convert the country into "one seamless market" and facilitate smooth transfer of goods and services, he said.
Describing it as an important step forward, Jaitely said the implementation of GST will lead to a "more efficient system" and "plug the leakages" in the economy.
He also stressed on the GST's overall impact saying "in the long run it may stabilize the tax rates and even bring them down".
Top five IT firms lose over Rs 45,000 in m-cap after TCS issues profit warning
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The stock of country's largest software services firm TCS hit a 6-month low, dragging other IT stocks, after the management on Thursday said the company may face sequential loss of momentum in the coming quarters.
Reacting to the news, TCS shares tanked over 6 per cent intraday, taking a hit of over Rs 27,000 crore in market capitalisation (m-cap). At the closing price, the m-cap of the most valued stock on BSE stood at Rs 4,57,365 crore compared with Rs 4,82,164 crore in the Wednesday's session.
Other IT stocks such as Infosys, HCL Tech, Wipro and Tech Mahindra also slumped up to 5 per cent on the BSE. BSE IT index was the top sectoral loser in today's session.
The top five IT companies put together, lost about Rs 45,000 crore in m-cap in the afternoon trade.
In a letter, TCS stated it is scheduling meetings with analysts to update investors.
"The company has characterized customer outlook as one marked by abundant caution", said TCS, adding that clients are holding back discretionary spending.
Delays in spending especially impacts banking and financial services sector, resulting in sequential loss of growth momentum, said the IT giant.
Analysts at IDFC Securities said slower revenue growth momentum and cross currency impact could sap momentum after soft June quarter.
Broker estimates 2 per cent decline in dollar revenue growth and flat margins in Q2.
The brokerage maintained "outperformer" rating but lowered target price to Rs 2,670 from Rs 2,770.
The stock of country's largest software services firm TCS hit a 6-month low, dragging other IT stocks, after the management on Thursday said the company may face sequential loss of momentum in the coming quarters.
Reacting to the news, TCS shares tanked over 6 per cent intraday, taking a hit of over Rs 27,000 crore in market capitalisation (m-cap). At the closing price, the m-cap of the most valued stock on BSE stood at Rs 4,57,365 crore compared with Rs 4,82,164 crore in the Wednesday's session.
Other IT stocks such as Infosys, HCL Tech, Wipro and Tech Mahindra also slumped up to 5 per cent on the BSE. BSE IT index was the top sectoral loser in today's session.
The top five IT companies put together, lost about Rs 45,000 crore in m-cap in the afternoon trade.
In a letter, TCS stated it is scheduling meetings with analysts to update investors.
"The company has characterized customer outlook as one marked by abundant caution", said TCS, adding that clients are holding back discretionary spending.
Delays in spending especially impacts banking and financial services sector, resulting in sequential loss of growth momentum, said the IT giant.
Analysts at IDFC Securities said slower revenue growth momentum and cross currency impact could sap momentum after soft June quarter.
Broker estimates 2 per cent decline in dollar revenue growth and flat margins in Q2.
The brokerage maintained "outperformer" rating but lowered target price to Rs 2,670 from Rs 2,770.
The brokerage maintained "outperformer" rating but lowered target price to Rs 2,670 from Rs 2,770.
Reliance Jio's battle with COAI intensifies
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The spat between Reliance Jio and Cellular Operators' Association of India (COAI) is taking new form every few weeks. First, the point of contention was interconnection usage charges (IUC), which was followed by allegations on Jio for choking networks of other telcos even while it is testing services.
The latest brawl stems from the interview of Mukesh Ambani, Chairman and Managing Director of Reliance Industries, to a pink daily. In his interview, Ambani said that "it's an association [COAI], the voting rights of the members depend on the revenue of the operators. We have zero revenue, so we are crowded out. Then what happens is that the official or the CEO of the association becomes an employee of the top two or three operators, in essence."
His comments seem to have irked the telecom lobby firm, which replied saying that "the comments made with reference to the functioning of COAI are absolutely incorrect and misleading. COAI is a fully democratic association and takes into account the views of all its member operators. Calling into question the credibility and integrity of the views and opinions of all its member operators is against the spirit of the conduct of members of the association. We would expect the member partners to take utmost care while talking about the functioning of the association."
Ambani further added that "if the top two operators control more than 51 per cent, it's an inherent flaw in its structure. While it is the COAI, its view is actually the view of one or two operators and not the view of the entire industry".
A multi-billion dollar business is at stake in this war of words. Even though Jio is a member of COAI, the impression in the some sections is that COAI is playing into the hands of old telcos.
In his interview, Ambani said that "when each of us bid for spectrum and sign a licence, we have obligations to our fellow operators, to the government of India and, above all, to our customers. You are mandated to provide interconnect so that you do not abuse your market position".
But a recent letter from Department of Telecom to Reliance Jio seems to differ from Ambani's viewpoint. The letter reads: "…As per the provisions contained in the Unified License, the interconnection shall be subject to mutual agreement of the concerned parties and may be dealt with accordingly."
DoT has also said that the matter of interconnectivity is under the purview of telecom regulator TRAI, which will now look into the matter. Jio subscribers are witnessing huge call failures to other networks as incumbent operators are not giving enough interconnectivity facilities to Jio.
"You are supposed to augment interconnect when the current capacity utilisation reaches 70 per cent. You cannot use excuses that someone is doing promotions, capacity requirement has gone up…," said Ambani to counter existing operators.
The spat between Reliance Jio and Cellular Operators' Association of India (COAI) is taking new form every few weeks. First, the point of contention was interconnection usage charges (IUC), which was followed by allegations on Jio for choking networks of other telcos even while it is testing services.
The latest brawl stems from the interview of Mukesh Ambani, Chairman and Managing Director of Reliance Industries, to a pink daily. In his interview, Ambani said that "it's an association [COAI], the voting rights of the members depend on the revenue of the operators. We have zero revenue, so we are crowded out. Then what happens is that the official or the CEO of the association becomes an employee of the top two or three operators, in essence."
His comments seem to have irked the telecom lobby firm, which replied saying that "the comments made with reference to the functioning of COAI are absolutely incorrect and misleading. COAI is a fully democratic association and takes into account the views of all its member operators. Calling into question the credibility and integrity of the views and opinions of all its member operators is against the spirit of the conduct of members of the association. We would expect the member partners to take utmost care while talking about the functioning of the association."
Ambani further added that "if the top two operators control more than 51 per cent, it's an inherent flaw in its structure. While it is the COAI, its view is actually the view of one or two operators and not the view of the entire industry".
A multi-billion dollar business is at stake in this war of words. Even though Jio is a member of COAI, the impression in the some sections is that COAI is playing into the hands of old telcos.
In his interview, Ambani said that "when each of us bid for spectrum and sign a licence, we have obligations to our fellow operators, to the government of India and, above all, to our customers. You are mandated to provide interconnect so that you do not abuse your market position".
But a recent letter from Department of Telecom to Reliance Jio seems to differ from Ambani's viewpoint. The letter reads: "…As per the provisions contained in the Unified License, the interconnection shall be subject to mutual agreement of the concerned parties and may be dealt with accordingly."
DoT has also said that the matter of interconnectivity is under the purview of telecom regulator TRAI, which will now look into the matter. Jio subscribers are witnessing huge call failures to other networks as incumbent operators are not giving enough interconnectivity facilities to Jio.
"You are supposed to augment interconnect when the current capacity utilisation reaches 70 per cent. You cannot use excuses that someone is doing promotions, capacity requirement has gone up…," said Ambani to counter existing operators.
Gold prices fall off 30-month high on low demand
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Gold slipped from a 30-month high, plunging Rs 250 to Rs 31,300 per 10 grams at the bullion market on Thursday, as demand from jewellers at domestic spot market fell amid a weak trend overseas.
However, silver gained Rs 50 to reclaim the Rs 47,000 per kg mark on increased offtake by industrial units.
Traders said a muted demand from jewellers at the prevailing higher levels and a weak trend overseas mainly contributed to the fall in gold prices.
In worldwide trade, gold fell 0.33 per cent to $1,345 an ounce in New York in Wednesday's trade.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs 250 to Rs 31,300 and Rs 31,150 per 10 grams, respectively. It had gained Rs 600 in previous five days.
Sovereign, however, held steady at Rs 24,400 per piece of eight grams.
On the other hand, silver ready edged up by Rs 50 to Rs 47,000, while weekly-based delivery declined by Rs 110 to Rs 47,315 per kg on lack of speculative buying support.
Silver coins, however, dropped by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
Gold slipped from a 30-month high, plunging Rs 250 to Rs 31,300 per 10 grams at the bullion market on Thursday, as demand from jewellers at domestic spot market fell amid a weak trend overseas.
However, silver gained Rs 50 to reclaim the Rs 47,000 per kg mark on increased offtake by industrial units.
Traders said a muted demand from jewellers at the prevailing higher levels and a weak trend overseas mainly contributed to the fall in gold prices.
In worldwide trade, gold fell 0.33 per cent to $1,345 an ounce in New York in Wednesday's trade.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity slumped by Rs 250 to Rs 31,300 and Rs 31,150 per 10 grams, respectively. It had gained Rs 600 in previous five days.
Sovereign, however, held steady at Rs 24,400 per piece of eight grams.
On the other hand, silver ready edged up by Rs 50 to Rs 47,000, while weekly-based delivery declined by Rs 110 to Rs 47,315 per kg on lack of speculative buying support.
Silver coins, however, dropped by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
Lessons from Tata Nano for Reliance Jio
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In April, about three months prior to its launch, Tata Motors started taking pre-launch orders for its much-hyped Nano, the world's cheapest car that was priced at Rs 1 lakh. Some people booked the car thinking that they would sell it in the black market for a premium, expecting a huge demand-supply mismatch in the months after the launch. But that never happened.
A similar story seems to be playing out in the telecom sector, where Reliance Jio has taken the country by storm. There are long queues at Reliance Digital stores to buy new connections. The waiting period is long because there are fewer SIM cards on sale than the demand from users. Those who cannot wait are buying SIMs in the black market for Rs 500-1,000. The pull, of course, is the world's cheapest data plans and free voice calling for lifetime.
Soon after its launch, Nano ran into a series of problems, including incidents of the car catching fire on more than one occasion. The experience with Jio is also far from seamless till now. People who are given connections are facing issues with activating them. Those who have got it activated are not able to make calls because of major connectivity issues. The only saving grace seems to be data, which is working fine in most locations.
In his launch speech, Reliance Industries Chairman Mukesh Ambani had grudged the lack of support from incumbent telecom operators. He mentioned that Jio customers suffered from 5 crore call failures to other networks in just one week due to insufficient interconnectivity capacity. If this continues for long, it would lead to irreversible damage to the users' perception.
Over the years, Nano's sales have gone through several dips and surges. At its peak, the previous version of Nano - the current version is GenX Nano - hit sales of 10,475 units in March 2012. In recent years, sales have been going only southwards. For instance, the sales in July 2016 stood at a dismal 701 units compared to 2,120 units in July 2015 even though the base variant of the car still costs Rs 2.06 lakh, the lowest ex-showroom price for any car in the country. The slightly-higher priced Renault Kwid had sold 9,897 units in July this year.
Reliance Jio has set for itself a target of 100 million customers in the shortest possible time. Earlier, there were reports that it targets to reach 100 million subscribers in one year. Let's assume that the shortest possible time is one year. That translates into selling a whopping 273,000 connections every day, or about 8.22 million connections a month. That looks daunting because with their established retail and distribution network, the top six telcos - Bharti Airtel, Vodafone India, Idea Cellular, Aircel, Telenor and MTNL - could add just 2.1 million subscribers this July. Bharti Airtel alone could add just 1.07 million in July, which is roughly one-eighth of Jio's target.
In the case of Nano, only 100,000 cars were sold at Rs 1 lakh, the price at which the car was supposed to be sold, as was thought by its Tata Sons' chairman emeritus Ratan Tata. The later models were priced much higher. The consumers don't have to pay anything to use Jio's services for now. Its welcome offer gives unlimited access to its bouquet of services till December 31, 2016. Experts say that more clarity on tariffs is likely to emerge after this largesse ends. Like any other business, Jio's profitability will be keenly watched by market analysts. With its aggressive pricing, Jio's financial performance is expected to be under duress.
A similar story seems to be playing out in the telecom sector, where Reliance Jio has taken the country by storm. There are long queues at Reliance Digital stores to buy new connections. The waiting period is long because there are fewer SIM cards on sale than the demand from users. Those who cannot wait are buying SIMs in the black market for Rs 500-1,000. The pull, of course, is the world's cheapest data plans and free voice calling for lifetime.
Soon after its launch, Nano ran into a series of problems, including incidents of the car catching fire on more than one occasion. The experience with Jio is also far from seamless till now. People who are given connections are facing issues with activating them. Those who have got it activated are not able to make calls because of major connectivity issues. The only saving grace seems to be data, which is working fine in most locations.
In his launch speech, Reliance Industries Chairman Mukesh Ambani had grudged the lack of support from incumbent telecom operators. He mentioned that Jio customers suffered from 5 crore call failures to other networks in just one week due to insufficient interconnectivity capacity. If this continues for long, it would lead to irreversible damage to the users' perception.
Over the years, Nano's sales have gone through several dips and surges. At its peak, the previous version of Nano - the current version is GenX Nano - hit sales of 10,475 units in March 2012. In recent years, sales have been going only southwards. For instance, the sales in July 2016 stood at a dismal 701 units compared to 2,120 units in July 2015 even though the base variant of the car still costs Rs 2.06 lakh, the lowest ex-showroom price for any car in the country. The slightly-higher priced Renault Kwid had sold 9,897 units in July this year.
Reliance Jio has set for itself a target of 100 million customers in the shortest possible time. Earlier, there were reports that it targets to reach 100 million subscribers in one year. Let's assume that the shortest possible time is one year. That translates into selling a whopping 273,000 connections every day, or about 8.22 million connections a month. That looks daunting because with their established retail and distribution network, the top six telcos - Bharti Airtel, Vodafone India, Idea Cellular, Aircel, Telenor and MTNL - could add just 2.1 million subscribers this July. Bharti Airtel alone could add just 1.07 million in July, which is roughly one-eighth of Jio's target.
In the case of Nano, only 100,000 cars were sold at Rs 1 lakh, the price at which the car was supposed to be sold, as was thought by its Tata Sons' chairman emeritus Ratan Tata. The later models were priced much higher. The consumers don't have to pay anything to use Jio's services for now. Its welcome offer gives unlimited access to its bouquet of services till December 31, 2016. Experts say that more clarity on tariffs is likely to emerge after this largesse ends. Like any other business, Jio's profitability will be keenly watched by market analysts. With its aggressive pricing, Jio's financial performance is expected to be under duress.
General Awareness
PM Visit to Vietnam and China
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India, Vietnam sign 12 agreements
India and Vietnam signed 12 agreements, signalling a strong upward push in their strategic ties in the field of defence, IT, space, double taxation and sharing white shipping information.
- This pacts will provide a new direction, momentum and substance to the bilateral cooperation and also contribute to stability, security and prosperity in this region. Thesepacts are as follows,
- India’s L&T will build offshore high speed patrol boats for Vietnamese Coast Guards and another agreement was signed on programme of cooperation in UN peacekeeping matters.
- An agreement for Indian Navy and Vietnam Navy will cooperate in sharing of white shipping information.
- An agreement on exploration and uses of outer space for peaceful purposes,
- An agreement on avoidance of double taxation, health cooperation, IT cooperation, cyber security and agreement on contract and design, building of boat in India,equipment supply and technology transfer.
- An MoU between Vietnamese Academy of Social Science and Indian Council of World Affairs.
- An MoU between BIS and STAMEQ for mutual recognition of standards,
- An agreement on setting up of sustainable IT Infra for advanced IT training and
- Protocol between Vietnam and India on celebrating 2017 as ‘The Year Of Friendship’ .
India grants $500 million to Vietnam to bolster defence ties
- India PM Narendra Modi extended a USD 500 million line of credit to Vietnam to deepen their defence cooperation and signed 12 agreements including a deal to construct offshore patrol boats, in a bid of China’s muscle flexing in the disputed South China Sea and ’emerging regional challenges’.
- India and Vietnam share borders and large trade volumes with China and have repeatedly locked horns with Beijing, over the territorial disputes in the Himalayas and the South China Sea, respectively.
- It is noted that it was unclear if the latest loan included the $100 million India had previously made available to Vietnam for four yet-to-be-built patrol vessels in a deal agreed in late 2014.
- This move is considered to scale up and strengthen our bilateral engagement. As two important countries in this region, it necessary to further ties on regional and international issues of common concern.
- It is noted that the Prime Minister also announced a grant of $5 million for the establishment of a Software Park in the Telecommunications University in Nha Trang.
PM Modi Gifted Chinese Translations Of Ancient Indian Texts
- Prime Minister Narendra Modi presented with a hand-painted oil-painting of himself by a Chinese painter and Chinese translations of ancient Indian texts including Bhagavad Gita and essays of Swami Vivekananda.
- Modi gifted a set of 10 Chinese translations of the ancient Indian texts by Indophile Professor Wang Zhicheng, who teaches Hindi at the prestigious Peking University and the translations include Yoga Sutras of Patanjali, Narada’s Bhakti Sutras, Yoga Vasistha among others.
- The Prime Minister was also gifted a portrait of himself by Professor Shen Shu from Hangzhou’s Zhejiang Kaiming Art Gallery and the painting took nearly four months to get completed
- This pacts will provide a new direction, momentum and substance to the bilateral cooperation and also contribute to stability, security and prosperity in this region. Thesepacts are as follows,
- India’s L&T will build offshore high speed patrol boats for Vietnamese Coast Guards and another agreement was signed on programme of cooperation in UN peacekeeping matters.
- An agreement for Indian Navy and Vietnam Navy will cooperate in sharing of white shipping information.
- An agreement on exploration and uses of outer space for peaceful purposes,
- An agreement on avoidance of double taxation, health cooperation, IT cooperation, cyber security and agreement on contract and design, building of boat in India,equipment supply and technology transfer.
- An MoU between Vietnamese Academy of Social Science and Indian Council of World Affairs.
- An MoU between BIS and STAMEQ for mutual recognition of standards,
- An agreement on setting up of sustainable IT Infra for advanced IT training and
- Protocol between Vietnam and India on celebrating 2017 as ‘The Year Of Friendship’ .
- India PM Narendra Modi extended a USD 500 million line of credit to Vietnam to deepen their defence cooperation and signed 12 agreements including a deal to construct offshore patrol boats, in a bid of China’s muscle flexing in the disputed South China Sea and ’emerging regional challenges’.
- India and Vietnam share borders and large trade volumes with China and have repeatedly locked horns with Beijing, over the territorial disputes in the Himalayas and the South China Sea, respectively.
- It is noted that it was unclear if the latest loan included the $100 million India had previously made available to Vietnam for four yet-to-be-built patrol vessels in a deal agreed in late 2014.
- This move is considered to scale up and strengthen our bilateral engagement. As two important countries in this region, it necessary to further ties on regional and international issues of common concern.
- It is noted that the Prime Minister also announced a grant of $5 million for the establishment of a Software Park in the Telecommunications University in Nha Trang.
- Prime Minister Narendra Modi presented with a hand-painted oil-painting of himself by a Chinese painter and Chinese translations of ancient Indian texts including Bhagavad Gita and essays of Swami Vivekananda.
- Modi gifted a set of 10 Chinese translations of the ancient Indian texts by Indophile Professor Wang Zhicheng, who teaches Hindi at the prestigious Peking University and the translations include Yoga Sutras of Patanjali, Narada’s Bhakti Sutras, Yoga Vasistha among others.
- The Prime Minister was also gifted a portrait of himself by Professor Shen Shu from Hangzhou’s Zhejiang Kaiming Art Gallery and the painting took nearly four months to get completed
India, Vietnam sign 12 agreements
India and Vietnam signed 12 agreements, signalling a strong upward push in their strategic ties in the field of defence, IT, space, double taxation and sharing white shipping information.
India grants $500 million to Vietnam to bolster defence ties
PM Modi Gifted Chinese Translations Of Ancient Indian Texts
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