Tata DoCoMo launches 3G services in Maharashtra with speeds up to 21.1 mbps and HD voice calling. They announced affordable plans priced between Rs. 750 to Rs. 2000 with various call minutes. Vodafone is in talks with foreign banks for a counter guarantee of Rs. 8500 crore as most Indian banks don't want to increase lending to the telecom sector. The NPCI launched an instant mobile fund transfer service called IMPS that allows customers to transfer money between banks through their mobile phones. Six banks have already signed up for the service.
2. DoCoMo launches 3G in
Maharashtra
The Tata DoCoMo, the GSM arm of Tata
Teleservices formally launches its 3G services
in Maharashtra.
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.
3. The company has also announced attractive
& innovative plans like small screen plan &
large screen plans to upgrade to 3G life.
The plans options are ranging from Rs 750
to Rs 200 offering 750-5000 free call
minutes.
4. 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.
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.
5. 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.
Vodafone has been asked to deposit this money
& furnish guarantee after it lost a legal battle
over a tax claim.
6. 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.
The service termed as Inter Mobile Payment
Service (IMPS) will support inter bank
transaction.
7. 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.
8. 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.
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.
9. The TATA Group has also been large
borrowers in euro to fund their
aquisitions like Jagure land recover &
Corus.
