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The Harappan Supper: Rendezvous with the world’s oldest curry made of brinjal

New Delhi, Industry body IAMAI on Friday "advised" <keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> not to delist any apps from Google <keyword id="20163860" type="General" weightage="20" keywordseo="play" source="keywords">Play</keyword>, after the tech titan sent out a clear warning that it will remove apps not complying with Play store billing policies. Internet and Mobile Association of India (IAMAI) confirmed that at least four of its members have received notices from Google. In a statement, IAMAI advised Google not to delist any apps from Google Play. "The affected members of IAMAI are of the view that a substantive hearing of the case is pending before the <keyword id="19900742" type="General" weightage="20" keywordseo="supreme-court-of-india" source="keywords">Supreme Court of India</keyword>, and Google should not take any coercive action during the pendency of the case," IAMAI said. Google on Friday said a clutch of companies, including well-established ones, continue to flout its billing norms, choosing not to pay Play store service fee applicable on sale of in-app digital goods, and warned that it will not hesitate to take necessary action to enforce policies, including removal of such non-compliant apps from Google Play. Amid a warcry over Google Play billing policy by some prominent Indian startups and the recent launch of <keyword id="20522402" type="General" weightage="20" keywordseo="indus-appstore" source="keywords">Indus Appstore</keyword>, the Made-in-India app market challenger, Google in a blogpost asserted that allowing a small group of developers to get differential treatment from the vast majority of developers who are paying their fair share creates an uneven playing field putting all other apps and games at a competitive disadvantage. "After giving these developers more than three years to prepare, including three weeks after the <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword>'s order, we are taking necessary steps to ensure our policies are applied consistently across the ecosystem, as we do for any form of policy violation globally," Google said in its blogpost. It went on to say that enforcement of the policy, when necessary, can include removal of non-compliant apps from Google Play. Google, however, added that existing users will be able to continue to access the apps without interruption and that it continues "to offer our support to help developers get into compliance". Developers, Google said, are welcome to resubmit their apps to be listed on Play by opting for one of the three billing options as part of its payment policy. "Today, we have over 2,00,000 Indian developers using Google Play who adhere to our policies, helping us ensure we have a safe platform; however, for an extended period of time, 10 companies, including many well-established ones, have chosen to not pay for the immense value they receive on Google Play by securing interim protections from the court," Google had said.

IAMAI asks Google not to delist apps from Play store, says 4 members got notices

<ul><li>The gameplay trailer of the Indian battle royale game, Indus, is out now.</li><li>The game includes a futuristic theme based on Indian culture and lush greenery.</li><li>Pre-registrations for Indus are live now.</li></ul>The gameplay trailer of the much-awaited homegrown and futuristic battle royale mobile game, Indus, is finally here. The gameplay video clip gives a hint of what we can expect from this battle royale game. The gameplay video of Indus features background music that blends Indian classical music with hip-hop, including many Indian characters like SIR-TAJ, Adam, Adya, and more. Graphics will look familiar to gamers, with several elements that appear inspired by titles like Valorant and <keyword id="7294885" type="General" weightage="50" keywordseo="apex-legends" source="Orion">Apex Legends</keyword>. <div type="Youtube" id="D5P7L5uU3-E" title="Indus Gameplay Trailer | An Indo-Futuristic Battle Royale | Pre-Registrations Live" thumbUrl="https://i.ytimg.com/vi/D5P7L5uU3-E/mqdefault.jpg"><url><![CDATA[https://youtu.be/D5P7L5uU3-E]]></url></div> Featured in the trailer is Indus’s island map, Virlok, which carries a futuristic theme based on Indian culture and lush greenery. It also showcases weapons and character skins. Like many other battle royale games, Indus allows players to play in third-person and first-person perspective. Although it isn’t clear if players will be able to switch between the two mid-game or if there will be two separate modes for the two. For non-gamers out there who are not familiar with the battle royale genre, it is a mode where a large number of players (usually around 100) parachute onto a map to fight until there is one person left standing. Behind the Indus battle royale title is SuperGaming, the Pune-based gaming studio, which says its goal is to put India on the global gaming map with Indus. To put Indus on the global map, SuperGaming launched the trailer of this battle royale game in New York Times Square last year. Earlier, FAU-G, or Fearless and United Guards were released by Bengaluru-based company nCORE Games. Somehow FAU-G managed to draw eyeballs with the involvement of Bollywood actor Akshay Kumar and even got millions of pre-registrations. But, it soon faded out due to a poor storyline, amateur action sequences, and terrible gameplay. <cmsannotation type="cmsannotation" annotationid="Indus game pre-registrations are open" comment="subhead" text="Indus game pre-registrations are open"><keyword id="16265830" type="General" weightage="100" keywordseo="Indus-game" source="Orion">Indus game</keyword> pre-registrations are open</cmsannotation> The pre-registration for Indus is live on Google Play for Android. Registration for iOS will open up soon as well. According to the company, the pre-registration will fetch you exclusive surprises. To pre-register, simply search ‘Indus’ on Play Store, open the listing, and hit the green ‘Pre-register’ button. Indus was initially scheduled for a 2022 release, but it has been delayed since SuperGaming has yet to provide a definitive date. The company says that it will hold multiple community playtest throughout the year so that people can experience the game and provide feedback. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/new-patent-suggests-that-apple-could-bring-a-foldable-iphone-with-a-self-healing-display-in-the-future/articleshow/97302738.cms">New patent suggests that Apple could bring a foldable iPhone with a self-healing display in the future</a> <a href="https://www.businessinsider.in/tech/news/apples-mixed-reality-headset-could-feature-full-body-facetime-avatars/articleshow/97300580.cms">Apple's Mixed Reality headset could feature advanced hand tracking and may work as a second display for Mac</a>

Made in India battle royale game Indus trailer out: Here’s what to expect

<keyword id="28423" type="DOMAIN" weightage="20" keywordseo="vedanta" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta</keyword>'s <keyword id="64469" type="General" weightage="100" keywordseo="cairn" source="Orion">Cairn</keyword> Oil &amp; Gas on Thursday announced the appointment of <keyword id="10020546" type="General" weightage="90" keywordseo="Nick-Walker" source="Orion">Nick Walker</keyword> as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at <keyword id="9024567" type="General" weightage="50" keywordseo="lundin-energy" source="Orion">Lundin Energy</keyword>, one of the leading European independent E&amp;P companies," it said. Having worked previously in companies like BP, <keyword id="503735" type="General" weightage="50" keywordseo="talisman-energy" source="Orion">Talisman Energy</keyword> and Africa Oil, he has over 30 years of diverse international experience in technical, commercial and executive leadership roles. He will be the sixth CEO of the company since mining billionaire Anil Agarwal-led group bought the company from Scottish explorer Cairn Energy plc, now known as Capricorn Energy plc, in 2011. Walker comes into Cairn Oil &amp; Gas after Prachur Sah quit the firm to join <keyword id="13893871" type="DOMAIN" weightage="20" keywordseo="indus-towers" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="indus towers" meta.entityname="Indus Towers Ltd." meta.entityid="22411" meta.seoname="indus-towers-ltd">Indus Towers</keyword> Ltd (formerly <keyword id="16136085" type="DOMAIN" weightage="20" keywordseo="bharti-infratel-ltd" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="bharti infratel ltd" meta.entityname="Indus Towers Ltd." meta.entityid="22411" meta.seoname="indus-towers-ltd">Bharti Infratel Ltd</keyword>) as managing director and CEO effective January 3, 2023. Rahul Dhir, the company's first CEO who oversaw its listing and development of India's biggest oil discovery in Rajasthan, quit the company in August 2012. His successor P Elango resigned in May 2014, while the third CEO <keyword id="2565808" type="General" weightage="50" keywordseo="mayank-ashar" source="Orion">Mayank Ashar</keyword> resigned in May 2016. Thereafter, Sudhir Mathur resigned in April 2018. Sah was appointed deputy CEO in October 2020. Announcing the appointment of the new CEO, Anil Agarwal, Chairman, of <keyword id="2040264" type="General" weightage="50" keywordseo="vedanta-resources-ltd" source="Orion">Vedanta Resources Ltd</keyword>, said, "We welcome Nick as the CEO for Vedanta's Cairn Oil &amp; Gas business and look forward to him driving the company's growth in years to come. Nick's global experience and incredible track record in the energy sector will provide the right expertise as Cairn embarks on the next phase of growth and sustainability." Walker will be leading all aspects of Cairn's strategy, including the development of strategic alliances with global partners to fast-track business delivery. He will drive the adoption and deployment of best-in-class oil and gas technologies and processes, with a focus on innovation and digitalization, for business transformation, the statement said. "Cairn Oil &amp; Gas is committed to increasing India's domestic crude oil and gas production with a vision to contribute 50 per cent of India's production and adding reserves and resources. "As one of the fastest developing economies, India is seeking to achieve energy self-sufficiency through a marked reduction in oil imports which currently account for 85 per cent of national consumption," it said. India produced 22.1 million tonnes or 442,000 barrels per day of crude oil during the first nine months of the current fiscal, according to official data available from the <keyword id="1538751" type="General" weightage="50" keywordseo="union-ministry-of-petroleum-and-natural-gas" source="Orion">Union Ministry of Petroleum and Natural Gas</keyword>. Vedanta in a stock exchange filing on January 3, 2023, giving out production numbers, stated that its oil and gas production during the October-December quarter was 144,789 barrels per day. <keyword id="11969166" type="DOMAIN" weightage="20" keywordseo="vedanta-ltd" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="vedanta ltd" meta.entityname="Vedanta Ltd." meta.entityid="13111" meta.seoname="vedanta-ltd">Vedanta Ltd</keyword> is a subsidiary of Vedanta <keyword id="4217600" type="DOMAIN" weightage="20" keywordseo="resources-ltd" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="resources ltd" meta.entityname="Crest Ventures Ltd." meta.entityid="10512" meta.seoname="crest-ventures-ltd">Resources Ltd</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-20000-crore-green-hydrogen-ambitions-and-debt-repayment/articleshow/97123733.cms">Adani Enterprises’ ₹20,000 crore FPO opens on January 27, will fuel its green hydrogen ambitions, repay debt</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/government-bullish-on-railway-assets-monetisation-in-union-budget/articleshow/97123879.cms">Government bullish on railway assets monetisation in Union Budget</a>

Nick Walker is new CEO of Vedanta Cairn Oil and Gas

<ul><li><keyword id="1553175" type="General" weightage="100" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>’s board of directors is scheduled to meet on October 21 to consider raising funds. </li><li>The meeting comes at a crucial time, when <keyword id="6375231" type="General" weightage="50" keywordseo="indus-towers" source="Orion">Indus Towers</keyword>, one of the main tower providers of Vodafone Idea, has demanded the telco pay up its dues. </li><li>Shares of the telco gained after the fundraising announcement. </li></ul>Vodafone Idea’s board of directors will meet on October 21 to consider fundraising via convertible debentures, the telco said in an exchange filing, without divulging details about the quantum of the fund raise. "We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on October 21, 2022, inter-alia, to consider and evaluate a proposal for issuance of debenture securities convertible into equity shares on a preferential/private placement basis to a vendor," Vodafone Idea said in its exchange filing. Convertible debenture is a long-term debt that can be converted into equity shares after a specified period. Vodafone Idea’s latest attempt to raise funds is for investing in its network and also to pay its dues to its service providers, including Indus Towers – a tower company in which rival telco Bharti <keyword id="15491" type="General" weightage="50" keywordseo="airtel" source="Orion">Airtel</keyword> holds a 47.76% stake. Notably, Vodafone Idea’s parent company, <keyword id="105732" type="General" weightage="50" keywordseo="vodafone-group-plc" source="Orion">Vodafone Group Plc</keyword>, also holds a 21.05% stake in Indus Towers. Vodafone Idea<a href="https://economictimes.indiatimes.com/industry/telecom/clear-dues-or-lose-tower-access-indus-towers-to-vodafone-idea/articleshow/94492219.cms"> reportedly</a> owes over ₹7,000 crore to Indus Towers. The tower company has asked the telco to clear dues or risk losing access to towers from November. Reacting to the news, Vodafone Idea’s shares rose 1% to ₹8.55. This is, however, still below the ₹10 level that the government is reportedly waiting for before converting its debt to equity, as part of the <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">telecom relief package announced in 2021</a>. The package gave telcos an option to go for a four-year moratorium on their adjusted gross revenue (AGR) and spectrum dues, among other things. <cmsannotation type="cmsannotation" annotationid="The tide that won’t stem" comment="subhead" text="The tide that won’t stem">The tide that won’t stem</cmsannotation> In 2022 so far, Vodafone Idea has lost over 12 million subscribers, according to data from telecom regulator TRAI. Its rivals <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> and Airtel continue to add subscribers at a rapid pace. <div type="image" title="Airtel Reliance Jio Vodafone Idea subscriber additions Jan-Aug 2022." msid="94963881" hostid="261" sizebytes="23682" caption="&amp;lt;p&amp;gt;Telecom subscriber trends in 2022 so far&amp;lt;/p&amp;gt;"></div> While the telecom sector is<a href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms"> expected</a> to ring in stability in Q2, analysts suggest Vodafone Idea will continue to grow weaker. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/maggi-maker-nestl-indias-net-profit-grows-8-3-to-668-crore-in-q2/articleshow/94960866.cms">Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2</a> <a href="https://www.businessinsider.in/business/corporates/news/moonlighting-is-fine-as-long-as-it-is-unrelated-to-what-we-do-for-our-clients-says-lt-tech/articleshow/94958101.cms">Moonlighting is fine as long as it is unrelated to what we do for our clients, says L&amp;T Tech</a> <a href="https://www.businessinsider.in/business/news/jaypee-and-amrapali-groups-collapse-leaving-buyers-in-the-lurch/articleshow/94961447.cms">70,000 housing units in trouble after Jaypee and Amrapali groups head into financial trouble</a>

Vodafone Idea board to meet on October 21 to consider fundraising via convertible debentures

What if Vodafone Idea dies?

A wily banker in the mid-1800s made it a point to gain knowledge of political instabilities in Europe and thereby predicted the market. During his time, Sir Henry Furnese became successful and infamous for his corrupt practices. However, his deals were recorded by Richard Millar Devens as “a train of business intelligence”. You would ask why? The idea and the concept of using <keyword id="6355729" type="ORGANIZATION" weightage="20" keywordseo="data">data</keyword> to gain an advantage over competition, is still in vogue and gaining ground. It has travelled from using data on computers, to floppy disks (where data could travel), to the internet and the cloud. Currently, the BI as it is now called, uses AI and ML to make the reams of data and make it available to decision makers who no longer need to depend on instinct alone. Today, small and large businesses use BI across a variety of uses - be it to predict what and when an e-commerce customer will buy next, to where elephants are roaming in a national park to ‘visualize’ the health status of a patient and much more. The importance of BI, as businesses are digitizing their operations. BI has evolved from hardware to a network to application to <keyword id="6359249" type="UNKNOWN" weightage="20" keywordseo="Analytics">analytics</keyword> and finally intelligent systems, that are assisted by AI. Currently, we are between the application and analytics stage, In spite of the endless promise, a number of BI adoptions have not produced the desired results. This reflects more about the way most traditional businesses work, rather than the <keyword id="6355118" type="UNKNOWN" weightage="20" keywordseo="technology">technology</keyword> itself, since most departments within a company refuse to share data, that creates silos, which breaks the philosophy of BI to - democratize data. The IT departments become proprietary owners of data. To break these walls, the technology too evolved from technical BI to self-service BI wherein sales teams, product development teams, marketing teams access BI for their daily decision making. The objective of self-service BI is to provide rights to data usage along with responsibilities. However, in reality, organizations need to train their staff adequately for this to be successful. When this is achieved, it would be easier to collect data from sources all across the organization as well. The ultimate goal is to enable end-user BI wherein every user can access BI without having to go through an engineering team. “The trends in BI that point to end user BI are Auto Narratives where insights/outcomes are delivered in natural language; BI Bots where users can ask and receive insights from specialized bots; mobile analytics – which can provide insights all day, all year; Collaborative BI where users collaborate on BI platforms to gain insights; and Data governance which ensure data data quality for unstructured data,” informed Abhishek Rungta, Founder and CEO of <keyword id="2938697" type="COMPANY" weightage="20" keywordseo="IndusNet-Technologies">Indusnet Technologies</keyword>. The business of intelligence The magic word that has made BI even more intelligent is AI. The confluence of both technologies is where computer intelligence meets business decision making. It is very important for companies to move and use data. “In most cases, 70% of data is never used by companies. There are riches in niches, and data can help you explore those niches or hidden gems within the company in different contexts.” Added Abhishek Rungta The key to achieving this at an organizational level is to automate the entire process of data gathering to prepare models and insights and the operational part. This is achieved by augmented intelligence where the functionality is added to the platform, to create what is now being called a ‘data story’. The ‘data story’ needs to make immediate sense. <keyword id="2220047" type="COMPANY" weightage="20" keywordseo="Indus-Net-Technologies">Indus Net Technologies</keyword> is focusing on predictive analytics, which uses data mining, modeling, and machine learning to determine the probability of future outcomes. With these <a href="https://www.indusnet.co.in/how-analytics-is-helping-insurance-companies-in-detecting-claim-frauds/?utm_source=prnewswire.com&amp;utm_medium=paid&amp;utm_campaign=press-release">predictive analytics</a>, healthcare companies are able to deliver personalised healthcare, with focus on individual patients and a greater understanding of trends for larger cohorts.The applications here extend to the financial world too, with banks having greater outlook in designing market specific products, where business performance is predicted to a high degree of accuracy, while delivering a keener understanding of risks involved and preventing fraud. <keyword id="6372399" type="PERSON" weightage="20" keywordseo="mckinsey">McKinsey</keyword>, in their Insurance 2030 report predicts that by <a href="https://www.mckinsey.com/industries/financial-services/our-insights/rewriting-the-rules-digital-and-ai-powered-underwriting-in-life-insurance">In 2030, underwriting as we know it today ceases to exist</a> with a majority of underwriting being automated owing to intelligence. AI and BI can come together to build a truly intelligent business where all its processes are guided data and its management. Apart from capturing data, analyzing it and help create decision making models and empowering employees with data, it can go many steps further. For one, the systems can be taught to ‘learn’ decision making via machine learning and lead to assisted intelligence that can shift the direction of a business and how it successful it can be. DISCLAIMER: This is a sponsored article in partnership with Indus Net Technologies.

Business Intelligence: How far and deep can it go to change the way organisations work?

<ul><li>Vodafone-Idea’s shares are up 5% after the company completed its stake sale in Indus Towers for ₹3,760 crore.</li><li>There are also reports that a consortium led by Oaktree Capital has offered around $2 billion of capital to invest in the Vodafone Group’s Indian arm. </li><li>Analysts believe that fresh investments and price hikes to improve average return per users (ARPU) are the only things that can help its survival.</li></ul>Vodafone-Idea has been bleeding subscribers for years and now even its postpaid customers are under threat of being wooed away by <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. According to analysts, the only way out for the company is with the fresh infusion of funds — and that’s what the company is doing. Vodafone-Idea shares were up nearly 5% today morning after the telecom player completed the sale of its stake in Indus Towers for ₹3,760.1 crore in cash. There are also <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">reports</a> that a consortium backed by Oaktree Capital has offered Vodafone’s Indian arm $2 billion — approximately ₹14,800 crore — in funding. <div type="image" title="Copy of sbi share price (1)" msid="79316655" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone-Idea share price since September 7 when it was rebranded as Vi!&amp;lt;/p&amp;gt;"></div> Both of these moves tie in with <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword>’s announcement in September where it revealed its plans to raise ₹25,000 crore by selling its shares and debt. New funds and price hikes are the only way to save Vodafone-Idea As Vodafone Idea continues to lose subscribers, it's also running out of money. This limits the company’s ability to invest in networks and adds to subscribers’ woes who switch over to other telecom operators. “We believe this spiral can be broken only with significant ARPU increase and fund infusion,” said Edelweiss Research in its report dated October 30. According to Axis Capital, Vodafone Idea’s future depends on it. The new mega tower company In the endeavour to raise new funds, Vodafone Idea has sold off around 11.15% of its holding in Indus Towers to make way for a newly merged mega tower company. The Vodafone Group will still hold around 28.12% in the new firm. Meanwhile, <keyword id="6354287" type="UNKNOWN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>’s stake reduces from 53.51% in Bharti Infratel to 36.7% in the combined entity. "Merger of Indus Towers Limited &amp; Bharti Infratel Limited has been completed today. The combined entity, to be renamed as Indus Towers Limited, is listed on the National Stock Exchange of India Limited &amp; BSE Limited," said Bharti Airtel in its filing with the Indian exchanges. Oaktree, Varde Partners and others offer $2 billion in funding The Oaktree-led consortium is formed of many companies, including Varde Partners. Sources told <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">Bloomberg</a> that they have made an offer to infuse between $2 billion to $2.5 billion of capital into Vodafone Idea. But, this is only one of the many offers that the company is currently considering. Vodafone Idea is in talks with several other investors. The company has been reporting losses for nine consecutive quarters. And, since the merger of 2017, Vodafone Idea is yet to come up green in its annual reports. Vodafone Idea is the weakest of three telecom giants in India, the other two being Bharti Airtel and Reliance Jio. And its survival is the only thing that’s standing in the way of the Indian telecom market turning into a duopoly. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-infosys-vodafone-idea-apollo-hospitals-emami-route-mobile-syngene-and-others/articleshow/79314343.cms">Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a>

Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale

Vodafone Group Plc on Monday said that its lenders have given their consent for the merger of <keyword id="6375231" type="COMPANY" weightage="20" keywordseo="indus-towers">Indus Towers</keyword> and Bharti Infratel. On September 1, Vodafone Group had announced that it had agreed to proceed with the proposed merger. "The agreement to proceed was conditional on consent for a security package for the benefit of the Combined Company (the "Security Package") from Vodafone's existing lenders (for the Euro 1.3 billion loan utilised to fund Vodafone's contribution to <keyword id="9830239" type="COMPANY" weightage="20" keywordseo="the-vodafone-idea-ltd">the Vodafone Idea Ltd</keyword> rights issue in 2019). This consent has now been received," the company said in a statement on Monday. The parties will now approach <keyword id="4195801" type="COMPANY" weightage="20" keywordseo="the-national-company-law-tribunal">the National Company Law Tribunal</keyword> to make the merger scheme effective. The parties are working to complete the transaction expeditiously, it added. SEE ALSO:<a href="https://www.businessinsider.in/international/news/harvey-j-alter-michael-houghton-and-charles-m-rice-jointly-wins-the-2020-nobel-prize-in-medicine/articleshow/78490602.cms" data-type="tilCustomLink"> Harvey J Alter, Michael Houghton, and Charles M Rice jointly win the 2020 Nobel Prize in Medicine for the discovery of Hepatitis C virus</a> <a href="https://www.businessinsider.in/defense/news/the-indian-air-force-is-ready-for-a-two-front-war-with-china-and-pakistan-says-air-chief-marshal-rks-bhadauria/articleshow/78488605.cms" data-type="tilCustomLink">The Indian Air Force is ready for a two-front war, says Air Chief Marshal RKS Bhadauria</a>

Vodafone gets lenders' nod for Indus Towers-Bharti Infratel merger

By Prasoon Srivastava New Delhi, Feb 21 () The Department of Telecom (DoT) on Friday approved the merger of the country's largest mobile tower company Indus Towers with Bharti Infratel, according to official sources. The combination of Bharti Infratel and Indus Towers will create a pan-India tower company with over 163,000 towers, operating across all 22 telecom service areas. The combined entity will be the largest tower company in the world outside China. "DoT has approved merger of Indus Towers with Bharti Infratel," an official source told . Bharti Infratel and Vodafone hold 42 per cent stake each in Indus. Vodafone Idea holds 11.15 per cent stake in the mobile tower firm. As per the plans, the combined company, which would fully own the respective businesses of Bharti Infratel and Indus Towers, would change its name to Indus Towers Ltd and will continue to be listed on Indian stock exchanges. The timely completion of the tower deal is critical for the companies, as it would allow Bharti and Vodafone Idea in offloading stake and raising funds. PRS ABMABM

Govt approves merger of Bharti Infratel, Indus Towers: Sources

New Delhi, Jul 2 () Mobile advertising company Affle on Thursday said it will acquire 8 per cent stake in smartphone operating system firm Indus OS. "Affle (India) Ltd through its subsidiaries announced the signing of a definitive agreement to acquire 8 per cent ownership in OSLabs Pte Ltd, Singapore, (Indus OS). Indus OS operates India's largest independent indigenous app store, with key investment from Samsung Venture Investment Corporation," Affle said in a statement. According to a regulatory filing, Affle will pay USD 2.86 million or about Rs 21 crore to Indus OS for the stake. "We derive significant synergies with the Indus App Bazaar which, through its multi-lingual capabilities, deeply enhances our vernacular scale and the verticalisation strategy. "It strengthens Affle's position as the enabling platform for the indigenous apps ecosystem in India, ensuring a digitally inclusive growth for our customers," Affle Chairman, MD and CEO Anuj Khanna Sohum said. Indus OS has 'Indus App Bazaar', which comprises over four lakh apps accessible in English and 12 Indian languages -- Hindi, Gujarati, Marathi, Tamil, Telugu, Urdu, Odia, Punjabi, Malayalam, Bengali, Assamese and Kannada. "Indus OS platform with its indigenous app store capabilities, thousands of apps and powered by a robust app recommendation engine is deployed by Samsung and many Indian OEMs (original equipment makers). "This deal would strategically strengthen our market position and create a leading one-of-its-kind engagement model for the Indian users," Indus OS co-founder, Director and CEO Rakesh Deshmukh said. PRS HRS

Affle to acquire 8 pc stake in Indus OS for Rs 21 cr

New Delhi, Feb 24 () Bharti Infratel on Monday extended the deadline for its merger with Indus Towers by two more months to April 24, but cautioned that final call on scheme implementation will be taken by the board based on assessment of telecom crisis and its impact. "The final decision to implement the scheme will be taken by the board keeping in mind the best interest of the company and its stakeholders including the assessment of the current crisis facing the telecom industry and the extent of its impact on the company's major customers," Bharti Infratel said in a regulatory filing. It said that although the foreign direct investment (FDI) approval for the merger with Indus Towers had been received, the long stop date (deadline) has been extended as other actions and conditions precedent to be fulfilled for the scheme to become effective cannot be completed by the previously stated deadline of February 24. "...The board of directors has further extended long stop date till April 24, 2020, subject to agreement on closing adjustment and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme," it said. MBI ANSANS

Bharti Infratel extends deadline for merger with Indus Towers by 2 months

<ul><li>The share price of <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> is up by 10% during mid-morning trade. </li><li>Even though the private sector bank reported a 16% drop in profit, its customers have been paying off their loans despite the option of a moratorium. </li><li>In the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. </li></ul><keyword id="6265775" type="COMPANY" weightage="20" keywordseo="IndusInd-Bank-share-price">IndusInd Bank share price</keyword> has skyrocketed by 10% after the private sector bank disclosed its earnings on Monday, April 27 — which missed their mark when it comes to profit. Even though profit took a hit and fell by 16%, the bank reported that its deposits have stabilised during the earnings call. <div type="image" title="indusindbank" msid="75425253" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd Bank&amp;#39;s share price increases by 10% in mid-morning trade on April 28&amp;lt;/p&amp;gt;"></div> IndusInd Bank’s provisioning for bad loans was 56.3% higher in the March quarter than a year ago with mostly corporate loans that facing the risk of default. Its net interest margins (NIMs) have increased and most of its customers aren’t deferring payments despite the option of the moratorium, according to the company. “Stabilisation in liability profile and improvement in asset quality are critical parameters expected to drive performance of IIB’s stock price in the post-COVID scenario,” said a report by research analysts at JM Financial Institutional Securities. Yet, the surge the share price does not match up to the previous increase which happened after <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought up 4.1 million</a> of the bank’s shares worth ₹176 crore on April 15. The disclosure led the share price to zoom up to ₹474.7 on April 17. What made the share price jump? The Reserve Bank of India (RBI) has given people the option to defer payments on their loans, but according to IndusInd Bank — its customers aren’t going down that route. During the conference call, the bank said it received 96% of non-vehicle portfolio repayments and 95% of repayments of its vehicle portfolio in March. Even in the micro-finance portfolio, the lender received 99% of repayments. Going forward, the bank expects retail to account for 60% and corporate to account for 40% of its balance sheet by the end of the next financial year. “Bank’s strategy has shifted towards ‘Retailisation of Balance Sheet’ with focus on improving retail deposit franchisee, increase the contribution of non-vehicle retail loans, and increase the proportion of microfinance business,” according to Philip Capital. However, in the short run, analysts believe IndusInd Bank’s performance will be driven by its credit behaviour given that its retail book has a higher proportion of non-salaried customers. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/goldman-sach-bought-indusind-shares-after-the-stock-price-nearly-doubled-in-13-trading-sessions/articleshow/75176481.cms">Goldman Sachs bought IndusInd shares after the stock price nearly doubled in 13 trading sessions</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-q4-net-profit-down-16-pc-at-rs-301-74-cr/articleshow/75408390.cms">IndusInd Bank Q4 net profit down 16 pc at Rs 301.74 cr</a> <a href="https://www.businessinsider.in/business/news/indusind-bank-shares-zoom-nearly-14-pc-after-q4-earnings/articleshow/75422017.cms">IndusInd Bank shares zoom nearly 14 pc after Q4 earnings</a>

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