MOBILITY SERVICES
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Post tariff hikes: Users could spend Rs 47,500 crore more, trade up data plans
The recent hefty tariff hikes by major Indian telecom companies, Reliance Jio and Bharti Airtel, are expected to significantly increase consumer spending on telecom services, potentially adding Rs 47,500 crore annually. These increases, aimed at boosting 5G monetisation, raise the cost of entry-level 5G plans by up to 71%. Analysts anticipate a 15-17% rise in average revenue per user (ARPU) for Jio and Airtel, driven by up-trading to higher data allowance plans. Despite risks of subscriber churn, the hikes are seen as pivotal for enhancing profitability and investment returns in the telecom sector.
Route Mobile enables WhatsApp ticketing for Nagpur, Hyderabad, Pune metro services
Route Mobile has partnered with Billeasy E Solutions to offer WhatsApp-based metro rail ticketing services in Nagpur, Hyderabad, and Pune, expanding to four Indian cities including Delhi. Users can chat with the metro's WhatsApp account, select stations, purchase tickets, and receive QR codes. Route Mobile's shares rose 13.59% to Rs 1,737 on the BSE.
Telecom sector revenue surges 87% to Rs 2.4 lk cr in FY24: Report
Telecom sector revenue in FY24 reached Rs 2,39,900 crore ($29 billion), an 87% increase from its FY19 low following Reliance Jio's market entry and about 40% higher than FY16 figures, according to a CLSA report. This surge reflects the continuing subscriber gains by Jio and Airtel at Vodafone Idea's expense, with Jio and Airtel now controlling 78% of the sector's revenue combined, a figure CLSA expects to rise to 83% by FY26.
Reliance Jio down: Users report issues with JioFiber & mobile internet
Reliance Jio is currently experiencing a widespread service outage across India, impacting access to communication applications and affecting remote employees. According to Downdetector, there is a notable issue with both fiber and mobile internet connectivity. Complaints surged to about 2,300 reports around 1:41 pm, subsided briefly by 2:11 pm, but then increased again with over 1,900 complaints.
India Inc makes a play for equality: L&T and Amazon lead the way with all-women teams in engineering and delivery
Engineering giant L&T has established an all-women team at Tata Steel's mining site in Odisha, handling large machinery repairs, inspired by a successful pilot. Amazon, which initiated all-women virtual customer service in 2020, now operates nine all-women delivery stations in various locations. Companies like Shell, KFC, and Dr. Reddy's are also creating all-women teams in various sectors, boosting productivity, reducing attrition, and attracting female talent. These initiatives aim to address the gender gap and promote inclusive practices across industries.
Sikkim flood: Six dead, 1,500 tourists stranded due to landslides; mobile services affected
Sikkim landslide (Google trends): Flash floods trigger massive landslides in northern Sikkim's Mangan district, killing six and stranding 1,500 tourists. Bailey bridge collapse at Sangkalang cuts off Dzongu and Chungthang. Houses inundated, roads blocked, and relief camp set up at Pakshep.
Gensol Engineering emerges successful bidder for Rs 1,340-cr battery energy storage project
The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said.
Sealdah station upgrades disrupt train services for second day, passengers face hardship
Passengers experienced significant disruptions for the second consecutive day on Saturday as numerous suburban trains were canceled or short-terminated due to infrastructure upgrades at Sealdah station. An Eastern Railway official reported that 80 local trains were cancelled, and 147 suburban train services were short-terminated or short-originated to facilitate platform length extensions and an electronic interlocking system upgrade from Friday to Sunday afternoon.
HDFC Bank scheduled downtime alert: 7 net banking and mobile banking services will not be available on June 9, 16
HDFC Bank scheduled Maintenance: HDFC Bank has informed its customers via SMS that select services will be unavailable during an upgrade window on June 9 and 16.
Trai reviewing norms for inactive landline and mobile connections, seeks feedback
The telecom regulator is seeking input on defining inactive landline and mobile connections as part of a discussion paper for a revised national numbering plan. It also seeks industry suggestions on reusing numbering resources from inactive connections.
HDFC Bank's netbanking services will not be available for several hours on 9th and 16th June. Check details
HDFC Bank announces scheduled maintenance for online services on June 9 and 16, affecting netbanking, mobile app services, and transactions including UPI payments.
IRDAI cracks down on fraudulent tele-callers; Check list of TRAI-assigned phone numbers insurers must use for customer calls
The IRDAI has instructed insurance companies and insurance intermediaries not to call customers from a standard 10-digit mobile number in an effort to take harsh measures against fraudulent telecallers.
Risk weighting slows unsecured loan growth
The growth of unsecured credit in India, including personal loans and credit card outstanding, slowed to 18% in April from 23% in November 2023. The Reserve Bank of India's risk weighting on such exposures aims to reduce delinquencies in the banking system.
India, UK begin talks on recognising and mapping skill gaps
India is discussing skill mapping and mutual recognition of skills with the UK to enhance job opportunities for its workforce. The focus is on linking the NCS portal with the UK job portal and facilitating worker exchange in labour-intensive sectors under the MMPA.
DoT mulls using drones, balloons for 5G connectivity in emergencies
The Department of Telecommunications (DoT) is considering using drones and tethered balloons to restore 5G connectivity during emergencies and natural disasters. Trials are likely to be conducted soon to test this initiative, with a decision expected by June next year. This approach aims to provide temporary 5G networks during disasters, offering connectivity in remote locations or when normal telecom services are disrupted. The government believes this method is more convenient than setting up new mobile sites and can utilize existing spectrum and power supply backups.
GST to be paid by telcos along with instalments towards spectrum charges
The spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments in the coming mega auction.
DoT asks telcos to reverify 6.8 lakh suspect mobile connections
The Department of Telecommunications (DoT) is initiating a re-verification process for approximately 6.8 lakh mobile connections suspected of being obtained through forged documents. These connections, flagged by advanced AI-driven analysis, are believed to have used fake or invalid proof of identity and address documents. Telcos have been directed to complete the re-verification within 60 days, with failure resulting in disconnection.
Aadhaar services you can avail with and without a registered mobile number
There are some Aadhaar services which can be availed without a registered mobile number and some services need the registered mobile number. Aadhaar holders can also verify their registered email and mobile number.
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