Airtel Digital TV and Dish TV have reportedly agreed to merge their direct to home television service operations. With combined subscribers of over 40mn, they are considered to be among the largest TV distribution companies in the world. The move is said to be competing Jio that is planning to integrate television service with its Jio Fiber broadband.
The Andhra Pradesh government is supplying onions at the subsidised rate of Rs 25 per kg, leading to a near-stampede at a farmers' market in Vizianagaram district. Each family will get only 1 kg of onions. As onion prices soared in the country, the central government reduced the stock limit for the wholesalers to 25 tonnes and retailers to 5 tonnes.
Kerala-born the UAE based businessman M A Yusuff Ali’s LuLu Group has converted the old headquarters of the Scotland Yard to a luxury hotel. The group had acquired the property in London for Rs 1,025cr and converted it into a luxury hotel. Lulu said that it has chosen a décor that stays true to the iconic building’s Edwardian and Victorian architecture.
RBI has released guidelines in respect of payment banks conversion into a Small Finance Bank. As per the rule, a payment bank that completed five years of its operation can apply to become a Small Finance Bank. This new rule would allow payment banks such as Paytm Payments Bank and Airtel Payments Bank to do banking transaction accepting deposits.
The Union government has approved the sale of its stake in 5 Corporate PSUs including Bharat Petroleum Corporation Limited, Shipping Corporation of India and Container Corporation of India of 53.2%, 53.75%, and 30.8% respectively. It will also sell 74.34% of THDC India and 100% of North Eastern Electric Power Corporation Limited to state-owned NTPC.
Bharti Airtel and Vodafone-Idea Limited have announced that their service tariff will be increased from Dec 1. Both the companies said that the tariff hike was inevitable to keep the business viable. Both the companies have incurred a combined loss of Rs 74,000 crore in the second quarter. The hike will apply to both prepaid and postpaid customers.