BANKING AND FINANCIAL AWARENESS –Bank PO/SO/Clerical – 27.9.16
Reliance Jio reveals operator-wise call drop data
- The Telecom Regulatory Authority of India ( Trai ) will issue show-cause notices to all mobile operators for the high level of congestion in their network that is leading to call failures to and from Reliance Jio’s network beyond the permissible limits.
- Trai chairman RS Sharma told FE that based on the data that the regulator had asked from all the operators, it has found that the congestion level is as high as 96% in some of the circles against the permissible limit of 0.5%.
- “The congestion levels are as high as 96% in some of the circles”.
Bank Board names 9 for ED posts in lenders
- The Bank Board Bureau (BBB) has recommended to the government the names of nine general managers for appointment as executive directors in different public sector banks.Fareed Ahmed, M.K. Bhattacharya, Atanu Das, P Ramana Murthy, D. Neelam, Ashok Pradhan, A.C. Rout, S. Hari Sankar and Swaminathan K are the officials whose names have been recommended.
- These recommendations were based on the interaction that the BBB had with eligible candidates for appointments “against existing and future vacancies of Executive Directors in the PSBs for the period 2016-17,” a statement from the BBB said.
- “The Government of India will subject the recommended candidates to the necessary due diligence process before it makes the final decision on appointments.”
Hero MotoCorp eyes premium market expansion
- “As the dominant market leader in both 100cc and 125cc segments in the domestic market, we are now looking at expanding our presence in the premium segment as well and the New Achiever 150 is a move in that direction,” the company’s Chairman, MD and CEO, Pawan Munjal said.
- Hero MotoCorp, the country’s largest two-wheeler maker, on Monday rolled out the new Achiever 150 priced at Rs.61,800 onwards as it aims to expand presence in the premium segment. While the drum-brake variant of the bike is priced at Rs.61,800, the one with disc brakes will cost Rs 62,800 (ex-showroom Delhi).
- Hero MotoCorp, which dominates the 100 cc and 125 cc segments with about 65 per cent and 55 per cent market share respectively, plans to introduce more models in the premium segment. The motorcycle comes with new BS-IV compliant engine with Hero’s patented i3S technology,
Women in senior roles help spur more profit
- “The higher the percentage of women in top management, the greater the excess returns,” said the CS Gender 3000 report which evaluated 27,000 senior managers at more than 3,000 companies globally.
- “From year-end 2013 to mid-2016, the ‘out-performance’ of companies with women in 25 per cent of senior positions is a CAGR of 2.8 per cent,” the report said. Companies which with women in 50 per cent of decision-making roles had a CAGR of 10.3 per cent. This compares with the 1 per cent annual decline for the MSCI ACWI (a measure of equity market performance) in the same period.
- India saw a decline in management diversity to 7.2 per cent (7.8 in 2014). India is the second-lowest in Asia-Pacific for female representation at a senior management level, behind Japan and South Korea (both at 2.3%).
Vodafone cuts 4G data price to 25 per GB
- The country’s second largest telecom operator, Vodafone India on Monday jumped into the race to provide cheap data to its prepaid 4G customers to counter the threat posed by Reliance Jio Infocomm, reports fe Bureau in New Delhi.
- The move follows the country’s largest operator Bharti Airtel unveiling its data pack last week that provided 30 GB data for 90 days at R1,495 making the per-GB cost R50.Vodafone’s offer is even lower, at R25 per GB, but it is not open like Bharti’s for all existing customers.
- In the case of Vodafone, only new 4G subscribers with new 4G handsets can avail the offer, which provides 10 GB data at the price of 1 GB for a 90-day period. Currently, the minimum charge for 1 GB data by Vodafone is R250. Vodafone’s move is also to counter Jio, where the per-GB rate works out to R50, but if compared with Jio’s 10 GB plan it works out cheaper.
Centre sacks Bank of Maharashtra’s Muhnot
- In an unprecedented move, the Centre on Monday sacked Sushil Muhnot, chairman and managing director of Pune-based Bank of Maharashtra, four days short of his scheduled retirement, and appointed Ravindra Marathe as the state-owned lender’s new chief.
- Mr. Muhnot was appointed as the chairman of the bank in November 2013, and was scheduled to retire on September 30.
- “In exercise of the powers conferred by sub-clause (4) of clause 8 of the Nationalised Banks (Management and Miscellaneous Provisions) scheme 1970/1980, the Central government hereby removes Shri Sushil Muhnot from the post of chairman and managing director of Bank of Maharashtra with immediate effect.”
Cabinet’s formal nod to be sought for Budget on Feb. 1
- The Finance Ministry has settled on February 1 as the new date for the presentation of the Union Budget, with the decision expected to be placed before the Cabinet for formal approval “soon”, a senior official of the Ministry.
- The Cabinet had last week approved the merger of the railway budget with the general budget and had given an in-principle nod for presenting the Budget earlier than February 28.
- “We have decided the date for the Budget to be February 1,” the Finance Ministry official, who did not wish to be identified, said. “The formal process of approval by the Cabinet will take place soon.”
- As the row between incumbents such as Bharti Airtel and new entrant Reliance Jio escalated, telecom regulator TRAI on Monday stepped in saying it would slap show-cause notices on operators for call drops that far exceed the norm.
- With Jio charging incumbent operators of providing fewer points of interconnection than needed for its users to complete calls on rival networks, TRAI Chairman R.S. Sharma said the regulator would issue show cause notices.
- “We have received the data. It shows call failure level is far in excess of the prescribed limit under Quality of Service rules.
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