logo
Mukesh Ambani, Sunil Mittal teams up against Elon Musk, writes letter to…, says businesses will suffer if…

Mukesh Ambani, Sunil Mittal teams up against Elon Musk, writes letter to…, says businesses will suffer if…

India.coma day ago

(File)
A group representing Indian telecom giants Reliance Jio and Bharti Airtel has raised concerns that their businesses can adversely affect if India sets satellite spectrum prices at 'unjustifiably low' rates and potentially favoring satellite internet providers like Elon Musk's Starlink.
In May, India's telecom regulator proposed that satellite service providers pay 4% of their annual revenue to the government for offering services. Starlink has argued against auctioning spectrum, advocating for a licensing model similar to global practices. The company contends that spectrum is a natural resource that should be shared among service providers.
The Cellular Operators Association of India in a May 29 letter to the telecoms ministry sought a review of those pricing proposals, saying traditional players pay higher upfront auction charges for telecoms spectrum which make their payments to the government for spectrum roughly 21% higher, when compared to what satellite players would pay.
'Price per MHz should be equivalent or at least comparable for both, especially when used to reach the same consumers for identical services,' said the letter as reported by Reuters.
'Satellite services can offer competitive and affordable alternatives to terrestrial broadband,' it added.
Reliance and Airtel didn't comment on the matter yet. A senior Indian government source, as cited by Reuters on, said the telecoms ministry is still reviewing the pricing recommendations made by the regulator, adding such industry concerns have been raised in the past.
Telecom players like Reliance Jio are concerned they will be offering similar wireless broadband services as satellite providers but paying much more, said an industry source with direct knowledge of the situation.
Reliance and others have spent nearly $20 billion in recent years to get 5G spectrum via auctions to offer telecom, data and broadband services.
The process of Starlink getting a license is 'nearly complete', telecoms minister Jyotiraditya Scindia told The Print news website on Tuesday.
(With Inputs From Reuters)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

After AOC, Savannah Guthrie says Trump-Musk feud is ‘giving 7th grade girl' energy
After AOC, Savannah Guthrie says Trump-Musk feud is ‘giving 7th grade girl' energy

Hindustan Times

time16 minutes ago

  • Hindustan Times

After AOC, Savannah Guthrie says Trump-Musk feud is ‘giving 7th grade girl' energy

Savannah Guthrie has shared her brutally honest thoughts about Elon Musk's explosive fallout with Donald Trump. During Friday's episode of Today, the 53-year-old co-host said that their ongoing feud is 'giving 7th-grade girl' energy. 'First of all, to just use TikTok language, it's giving 7th grade girl,' Guthrie said, adding, 'This back and forth, online, and from the Oval Office.' Co-host Craig Melvin laughed at her choice of words, while Meet the Press anchor Kristen Welker said, 'Savannah, you hit the nail on the head.' Also Read: Elon Musk's trans daughter Vivian reacts to his feud with Trump: 'I love…' Guthrie's scathing remark came as Good Morning America's Jonathan Karl revealed a June 6 conversation with Trump, where the president said he is 'not particularly interested' in speaking with Musk. The political correspondent noted that Trump called Musk, 'A man who has lost his mind.' The Today co-host is not the only one to publicly criticise the ongoing spat between Trump and the Tesla CEO. Democratic Representative Alexandria Ocasio-Cortez told Spectrum 1 News on Thursday, saying, 'Oh man, the girls are fighting, aren't they?' Also Read: Jake Paul slams Donald Trump and Elon Musk for 'diss tweeting each other' 'You know, I would say that this was something that was a long time coming, where we've been seeing that these two huge egos were not long for being together in this world as friends,' Ocasio-Cortez went on, adding, 'And so I think this breakup, we've been seeing a long time coming. But we'll see what the impacts are of it legislatively.' Earlier this week, Musk wrote on X, 'I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.'

Sebi attaches bank, demat, MF accounts of Choksi to recover Rs 2.1 cr dues
Sebi attaches bank, demat, MF accounts of Choksi to recover Rs 2.1 cr dues

Business Standard

time16 minutes ago

  • Business Standard

Sebi attaches bank, demat, MF accounts of Choksi to recover Rs 2.1 cr dues

Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of absconding diamantaire Mehul Choksi to recover dues totalling Rs 2.1 crore in a case of violation of insider trading rules in the shares of Gitanjali Gems. The latest move followed a demand notice issued to Choksi on May 15, warning attachment of assets as well as bank accounts if he failed to make the payment within 15 days. The demand notice came after Choksi failed to pay the fine imposed by the Securities and Exchange Board of India (Sebi) in January 2022 in a case of violation of insider trading rules in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi. Both are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore. Both Choksi and Modi fled India after the PNB scam came to light in early 2018. In April, Choksi was arrested in Belgium following an extradition request by Indian probe agencies. He was located in Belgium last year when he went there for getting medical treatment. He had been staying in Antigua since 2018 after leaving India. Modi was arrested by the Scotland Yard Police in March 2019 and is currently in jail in that country. In an attachment notice dated June 4, Sebi said the pending dues of Rs 2.1 crore include the initial fine of Rs 1.5 crore and interest of Rs 60 lakh. To recover the dues, Sebi asked all the banks, depositories -- CDSL and NSDL -- and mutual funds not to allow any debit from the accounts of Choksi. However, credits have been permitted. Further, Sebi has directed the banks to attach all accounts, including lockers, held by the defaulter. Initiating the recovery proceedings, Sebi said there is sufficient reason to believe that Choksi may dispose of the amounts in the bank accounts, mutual fund folios and securities in the demat accounts held with the depositories and "realisation of the amount due under the certificate would, in consequence, be delayed or obstructed". In its order passed in January 2022, the regulator imposed a penalty of Rs 1.5 crore on Choksi and restrained him from the securities market for one year. Sebi had found that Choksi communicated unpublished price sensitive information to one Rakesh Girdharlal Gajera, who sold his entire shareholding of 5.75 per cent in Gitanjali Gems in December 2017 with the intention of avoiding loss ahead of any event which may lead to disclosure of fraudulent issuance of LoUs (letter of undertaking) to Gitanjali Group and magnitude in public domain. It was noted that fraudulent LoUs were issued on behalf of entities belonging to the Gitanjali Group, including GGL. "Noticee no. 1 (Choksi) was found to have communicated UPSI (unpublished price sensitive information) to Noticee no. 2 (Gajera) without any underlying legal obligation or any legitimate purpose," Sebi had said in its final order. Through such activities, the two persons had violated the provisions of the PIT (Prohibition of Insider Trading) rules. In May 2023, Sebi sent a notice to Choksi directing him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems.

We'll integrate artificial intelligence in all branches: AICTE Chairperson
We'll integrate artificial intelligence in all branches: AICTE Chairperson

Business Standard

time17 minutes ago

  • Business Standard

We'll integrate artificial intelligence in all branches: AICTE Chairperson

All India Council for Technical Education (AICTE) chairperson TG Sitharam on Friday said artificial intelligence (AI) will be integrated into all branches of technical education. While AICTE had introduced a BTech programme in AI and Data Science as early as 2017, the Council is now working to include AI in the model curriculums of all technical disciplines, including engineering, information technology, and management studies, Sitharam told PTI. "A committee of experts has been constituted to suggest necessary revisions in the model curriculums. This committee has already held three meetings. I expect the panel to submit its recommendations within the next month on how AI can be incorporated across all branches. Two months after that, we aim to finalise the updated model curriculums," he said. Based on these new model curriculums, AI-inclusive teaching could begin as early as next academic year, the official said. He also informed that AICTE has made around 1,000 textbooks available online in 12 Indian languages, which have been downloaded seven lakh times over the past two years. Currently, 54 technical institutions across the country are offering various courses in these 12 Indian languages, he said. Sitharam was in Indore to attend a meeting of Parliament's advisory committee, chaired by Union Education Minister Dharmendra Pradhan. The meeting focused on promoting education in Indian languages in schools and higher education institutions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store