Cellular Operators' Association of India (COAI) has raised concerns over Trai's draft rules to curb pesky calls, stating that they do not effectively deal with pain-points faced by users.

The industry body of large mobile operators has insisted on a “cost-benefit analysis” before financially-stressed telcos are asked to overhaul the existing system.

Mumbai, Jun 25 () The BSE Sensex declined about 67 points in early session today on profit-booking by speculators amid mixed Asian cues on worries over a US-China trade war.

The 30-share flagship index was down 67.80 points, or 0.18 per cent, to 35,621.80.

Mumbai: Reliance Industries Ltd (RIL) is considering an initial public offering (IPO) of its telecom unit Reliance Jio Infocomm Ltd in the next two to three years, a person with knowledge of the matter said.

RIL plans to list Reliance Jio on the exchanges after the company’s consumer businesses, which includes Reliance Jio, overtakes its energy business in terms of revenue, the person said on condition of anonymity.

Both LIC and SBI have written to the board of UTI Asset Management Company (AMC), asking it to allow the term of Leo Puri, the current MD and CEO, to expire and to appoint a non-executive chairman from among the “independent directors”. The so-called independent directors are nominees of the PSU financial institutions that, together, own 73% of UTI’s shares. At present, there are two nominees each from LIC and SBI and one from PNB.

SBI Life stands on a strong foothold for superior to industry growth, driven by a geographically diverse retail-dominated business mix and exclusive access to SBI’s >22k branches. Its best-in-class cost ratios are driven by the lower costs of SBIN-sourced business (~10%, v/s >20% for IPRU & HDFCLIFE). Our calculation suggests that a tax-assumption change (similar to what IPRU & HDFCLIFE follow) would boost VNB margins by ~150bp over reported. Buy, price target Rs 804.

Even as the government’s efforts to sell majority stake in Air India came a cropper, it has come to light that a section of Air India’s pilots, deputy general managers (DGMs), clerks and other officials has been making some easy money on the side by playing the system. Airbus and Dreamliner pilots’ flying hours and rosters are being nimbly manipulated, with the result that the loss-making national carrier is ending up paying these pilots a lot more than it needs to.

Wipro chief executive Abidali Z Neemuchwala saw his pay package growing over 34 per cent to Rs 182.3 million during FY2017-18 compared to the previous fiscal, as per the company's annual report.

Chief Strategy Officer Rishad A Premji’s compensation also grew by more than 250 per cent to Rs 58 million in the said fiscal.

The mega-merger deal of Idea Cellular and Vodafone India may not meet the expected June 30 timeline as the telecom department is looking to raise a fresh demand of around Rs 4,700 crore, a source said.

The demand will be raised from Vodafone India before its merger with Idea Cellular.

China, India and South Korea, which are the three biggest Asian markets, excluding Japan, have seen erosion in market capitalisation of $1.4 trillion this year, so far. On the other hand, developed markets such as the US, the UK and France have fared much better, signalling global funds could be shifting their preference away from riskier emerging markets.

While the bulk of the erosion in the Asian markets is on account of China, India and South Korea too have lost significant ground, particularly in dollar terms.

The government on Saturday appointed Arijit Basu as managing director of the country’s largest lender State Bank of India. He will fill the position that fell vacant following the elevation of Rajnish Kumar as the chairman. Now, after this, the SBI will have four managing directors. As per the SBI Act, the bank can have four managing directors.

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