New Delhi: The mobile industry has urged the government to help the telcos restructure their debts with a two-year moratorium, lower interest and extend timelines to pay the dues to help them come out of the financial crisis which has been aggravated by the AGR order of the Supreme Court. "It will need a 20 per cent increase in ARPU to get the companies on a better financial footing. To achieve this, there will be an immediate need to restructure the debt to Government with a 2 year moratorium, lower interest and a longer repayment time. Also Government needs to eliminate or redefine AGR prospectively and reduction in License Fees and Spectrum Usage Charges to 3 per cent and 1 per cent respectively. GST rate needs to be brought down to 5 per cent and GST should be removed from all government payments for debt repayment, interest, LF and SUC," Rajan Mathews, DG of the mobile industry association COAI said. The July-September quarter (Q2) has dealt a body blow financially to the Indian … [Read more...] about Give 2-year Moratorium, Lower Interest Rate and Extend Repayment Time: COAI to Govt
Dui 20 years ago
The 21-year-old was in January due to fly to the UK for an internship at Arsenal Football Club, fulfilling a lifelong dream, before returning to take up a role as joint coach of the reserves team at his beloved Noarlunga United Soccer Club. Adam Joseph, 21 was walking home with mates when he was killed by a 23-year-old drink driver early in the morning at O’Halloran Hill last year. Picture: FacebookSource:Facebook But just before 4am on December 29, 2018, his life was cut short when he was fatally struck by a Mercedes-Benz sedan while walking home with friends after a night out at O’Halloran Hill, south of Adelaide’s CBD. A sample revealed the man behind the wheel, Joshua Burroughs Norman, could have had a blood-alcohol content as high as .21 at the time – more than four times the legal limit. Norman, 24, cried in the District Court on Monday as Mr Joseph’s family and friends told of their loss. David Joseph, father of Adam Joseph, leaving the District … [Read more...] about Drink-driver gives courtroom apology over crash that killed 21-year-old sports student
Roger Federer can reflect with satisfaction on a season in which he reached his century of titles but his campaign will be defined by the one that got away at Wimbledon. The Swiss veteran exacted revenge on Novak Djokovic at the ATP Finals in London but could not get past Greek youngster Stefanos Tsitsipas in the semi-final on Saturday. It meant no fairytale end to the season for Federer, who now has 103 singles titles in his long and illustrious career -- just six behind all-time record holder Jimmy Connors. The 38-year-old won four titles in 2019, including the Miami Masters, winning for the 10th time in both Halle and Basel and reaching the semifinals at the French Open. Over Wimbledon loss Thevictory on grass in Halle set him up nicely for a shot at a ninth Wimbledon crown but he fell agonisingly short, failing to convert two championship points on his own serve against Djokovic. Federer himself insisted the pain of defeat at the All England Club did not linger long, saying it … [Read more...] about Roger Federer: I’ve got to keep on playing at levels like I have this year
MUMBAI: In the 50 years since banks were nationalised, the recapitalisation bill from FY18 to FY20 at Rs 2.69 lakh crore has been higher than in the first 45 years — estimated to be less than Rs 1.5 lakh crore. In the last 10 years, the government has been consistently capitalising public sector banks (PSBs) with Rs 3.8 lakh crore between FY11 and FY20. This does not include the Rs 20,000-odd crore that Life Insurance Corporation has paid for acquiring 51% stake in IDBI Bank. The government has been forced to infuse funds after PSU banks reported collective losses from FY16 to FY19 totalling Rs 1,64,474 crore. These losses put pressure on government finances at multiple levels as the Centre lost out on dividends and tax revenue. While the bulk of the capital infusion came under the NDA II government, the maximum number of bank-delivered social schemes were also announced under this regime. These include Jan-Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri … [Read more...] about PM Modi’s PSU bank spends beat 45 years’ investments
I would like to build a corpus of Rs 1 crore in 10 years. I have a moderate risk profile. I am new to mutual funds. I have started investing in May 2019 in L&T Midcap Fund (Rs 5,000) and L&T Emerging Businesses Fund (Rs 5,000). I am planning to start two SIPs of Rs 5,000 each in Mirae Asset Large Cap Fund and SBI Magnum Medium Duration Fund. Will these mutual funds help me to achieve my goal? --Nishath GopalPuneet Oberoi, Founder, Excellent Investment Advisors, responds: You are investing Rs 20,000 per month in mutual funds, out of which Rs 15,000 is in equity and Rs 5,000 in a debt scheme. With your equity investments of Rs 15,000, you would be able to build a corpus of Rs 34.5 lakh after 10 years, assuming an annual return of 12%. Your investments of Rs 5,000 in debt mutual funds will help you to make Rs 9 lakh in 10 years, assuming an annual return of 8%. That is a total corpus of around Rs 43.5 lakh. To create the additional Rs 57 lakh, you need to increase your … [Read more...] about Will these mutual funds help me to create Rs 1 crore in 10 years?