Business News
The Economic Times: Breaking news, views, reviews, cricket from across India
Updated: 1 hour 18 min ago
Trai chief on how to check spam menace
The telecom regulator's recent recommendations for Calling Name Presentation (CNAP), or a proposed caller ID service, does not arouse any privacy concerns as recipients have the right to know who is calling them, chairman Anil Kumar Lahoti said on Tuesday. He added that various ministries will have to coordinate and act to check the menace of phishing through spam calls and messages.In his first exclusive media interaction since taking charge as Telecom Regulatory Authority of India (Trai) chairman in late January, Lahoti also said telecom operators have the freedom to raise tariffs, which is under forbearance.He added that the telecom department hasn't yet sent any reference to Trai on the allocation or pricing of satellite spectrum, and that the regulator will start deliberations once that comes in."There is no privacy concern. If I'm calling you, I can't say I'm calling you, but you have no right to know my name. It's a conversation between two individuals and the recipient has the right to know who is calling them," Lahoti said.He added that CNAP recommendations take into account the recipients' choice to opt out of the Truecaller-like service the government is planning to launch to curb spam and scam calls."We have to see the right of both. If the recipient is comfortable with seeing only the number, that's an opt-in thing they have to choose. That's a choice he can exercise," Lahoti added.He, however, said phishing - the practice of tricking internet users into revealing personal details for illicit purposes - falls under the domain of information technology and is covered under the recently passed Digital Personal Data Protection Act."Right now, Trai is not making rules for data protection. I don't think we have regulations on data protection. But where the role of the telecom sector is there, we will certainly intervene," he said.He said different ministries will have to collaborate to tackle this menace."Here, the different ministries of the government have to work together because there is convergence. Telecom and information technology are converging, so they have to," Lahoti said.The official said Trai has not yet received reference from the Department of Telecommunications (DoT) to allocate spectrum for satellite communications since the new telecom act was passed. "We haven't received any reference for recommendations after the previous reference regarding the auctions. As and when we receive, we will deliberate," Lahoti said.
Categories: Business News
Zee expands scope of advisory panel
New Delhi: Zee Entertainment Enterprises Ltd on Tuesday said its board has expanded the scope of independent advisory panel to include investigation assessment. The announcement by the company comes amid the ongoing probe by market regulator Sebi against its promoters for alleged fund diversion. Last week, the company announced constituting of independent advisory panel to curb erosion of its investor wealth in the wake of speculations leading to negative public opinion of the company. In a regulatory filing, Zee Entertainment Enterprises Ltd (ZEEL) said, "On recommendation of the Audit Committee, the Board of Directors of the Company, in its meeting held today, has considered and approved to further expand and strengthen the role of the 'Independent Advisory Committee' by including 'Investigation Assessment' as a primary responsibility of this Committee."
Categories: Business News
RBI streamlines process of filing supervisory returns
The RBI has issued directions for filing of supervisory returns for various supervised entities in order to bring clarity, brevity and harmonization.The move will help reduce the burden of compliance on the regulated entities based on the recommendations of the Regulations Review Authority (RRA 2.0) and an Internal Working Group of RBI."The Master Direction provides a broader framework to understand the purpose of the returns and harmonises the timelines for their submission. This Direction removes certain instructions that have become obsolete and consolidates twenty existing instructions, including one Master Direction for Non-Banking Financial Companies. It creates a single document for ensuring compliance related to submission of all supervisory data. A summary of all changes made are also included in the Master Direction for ease of reference," the RBI said.
Categories: Business News
Tech View: Nifty forms bullish engulfing chart as expiry nears. What traders should do on Wednesday
Nifty on Tuesday ended 64 points higher to form a bullish engulfing pattern on the daily chart after two days of weakness.The near-term uptrend status of Nifty remains positive and bullish chart patterns like higher tops and bottoms are also intact. At the same time, the market is not gaining strength to witness an upside breakout of 22,200-22,300 levels decisively. The immediate resistance is at 22,300 and any dips down to 22,000-21,950 could be a buy-on-dip opportunity, said Nagaraj Shetti of HDFC Securities.As we approach the F&O expiry day on Thursday, volatility will begin to kick in as traders will roll over their positions to the next expiry day.Open Interest (OI) data showed the highest OI on the call side at 22,500, followed by 22,600 strike prices. On the put side, the highest OI was at the 22,000 strike price.The hourly momentum indicator has triggered a positive crossover, which is a buy signal and thus intraday dips are likely to be bought into, chartists say.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesThe trend remains positive as the index has consistently stayed above the near-term moving average. Overall, the bulls may continue to exert control as the index has closed above the previous consolidation high. A decisive move above 22,200 might propel the index for a decent rally towards 22,400 in the near term. Support on the lower end is situated at 22,000.Ajit Mishra, Religare BrokingThe recent price action shows that bulls are consolidating their positions at record-high levels and waiting for some fresh triggers. Needless to say the buoyancy in the global market, especially the US market, is encouraging but we need alignment in heavyweights, especially in the banking majors to trigger fresh momentum. Meanwhile, traders should continue with a ‘buy on dips’ approach, with a focus on stock selection.Tejas Shah, Technical Research, JM Financial & BlinkXWe believe that as long as the Nifty is holding above the 22,000 mark, the rally is likely to continue and it can test the next resistance zone of 22,250-300 on an immediate basis and eventually Nifty can test the level of 22,500 on the higher side. Supports for Nifty are now seen at 22,150 and 22,000 levels. On the higher side, the immediate resistance zone for Nifty is at 22,250-300 levels and the next resistance is at 22,500 mark.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Categories: Business News
Railways reduces ticket prices by 50%
Categories: Business News