WEEKEND NEWS

Presented by-

NEELAM MONGA

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.

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.

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.

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.

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.

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.

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.

The TATA Group has also been large borrowers in euro to fund their aquisitions like Jagure land recover & Corus.

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