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Ola Electric is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter. "It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source. The exercise is expected to be completed by the end of this month. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added. Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric. Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

Ola Electric cuts 500 jobs across verticals

<keyword id="20509941" type="General" weightage="20" keywordseo="spectrum-auction" source="keywords">Spectrum auction</keyword> for <keyword id="22185968" type="General" weightage="20" keywordseo="mobile-radiowaves-services" source="keywords">mobile radiowaves services</keyword> worth Rs 96,000 crore ended with <keyword id="20055672" type="General" weightage="20" keywordseo="bids" source="keywords">bids</keyword> worth about Rs 11,000 crore, according to sources. The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has put over 10,500 Mhz spectrum in eight <keyword id="21197262" type="General" weightage="20" keywordseo="frequency-bands" source="keywords">frequency bands</keyword> -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction. "There were no fresh bids in the morning session. The auction has ended with bids worth about Rs 11,000 crore," the source said, adding that <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> has emerged as the biggest bidder in the auction. During the last auction in 2022, which turned out to be a seven-day affair, a record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold, with billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio" meta.hostid="261" meta.entityid="Jio">Jio</keyword> emerging as the top bidder, cornering nearly half of all the airwaves (worth Rs 88,078 crore). At that time, telecom tycoon Sunil Mittal's Bharti Airtel made a successful bid of Rs 43,084 crore, while Vodafone Idea bought Spectrum for Rs 18,799 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank">Stanley Lifestyles IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank">OnePlus Nord CE 4 Lite vs Poco X6 – which phone should you buy under ₹25,000?</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank">IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore</a>

Spectrum auction ends with bids worth ₹11,000 crore, Bharti Airtel emerges as the biggest bidder

<keyword id="20243474" type="General" weightage="100" keywordseo="telecom-companies" source="keywords">Telecom companies</keyword> will have to pay <keyword id="19951327" type="General" weightage="20" keywordseo="GST" source="keywords">GST</keyword> along with the instalments paid towards <keyword id="20434667" type="General" weightage="20" keywordseo="spectrum-charges" source="keywords">spectrum charges</keyword>, a senior official said. The <keyword id="62528" type="General" weightage="20" keywordseo="Department-of-Telecom" source="Orion">Department of Telecom</keyword> (DoT) will hold the next round of <keyword id="20509941" type="General" weightage="20" keywordseo="spectrum-auction" source="keywords">spectrum auction</keyword> on June 6 for eight spectrum bands meant for <keyword id="20501236" type="General" weightage="20" keywordseo="mobile-phone-services" source="keywords">mobile phone services</keyword>. The base price for the auction has been set at Rs 96,317 crore. 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. The official said Goods and Services Tax (GST) will have to be paid at 18 per cent by telecom companies along with each instalment. "The <keyword id="19994390" type="General" weightage="20" keywordseo="GST-Council" source="keywords">GST Council</keyword> in its next meeting is likely to clarify the procedure for payment of GST by companies winning the bids during the spectrum auction," the official told PTI. The clarification will end confusion among field formations regarding the method for collection of GST in the auction process. All the available spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz bands are part of the auction. The total frequencies being put under the hammer are valued at Rs 96,317 crore on base price. Moore Singhi Executive Director Rajat Mohan said under the GST law, spectrum payment is covered under licensing services for the right to use other natural resources on which tax is levied at 18 per cent. "Spectrum charges are payable in a phased manner over a period of time, and thereby tax payment shall also be staggered. The board should issue a clarification in this respect so as to avoid any litigation in this regard," Mohan said.

GST to be paid by telecom companies, along with instalments towards spectrum charges: Official

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has launched the <keyword id="23557661" type="General" weightage="100" keywordseo="JioBharat-V3" source="keywords">JioBharat V3</keyword> and V4 feature phones.</li><li>The devices have been launched at the ongoing <keyword id="22302084" type="General" weightage="20" keywordseo="Indian-Mobile-Congress" source="keywords">Indian Mobile Congress</keyword> (IMC) 2024.</li><li>The JioBharat V3 and V4 come with an ₹123 <keyword id="23557663" type="General" weightage="20" keywordseo="monthly-recharge-plan" source="keywords">monthly recharge plan</keyword>.</li></ul> Mukesh Ambani-led Reliance Jio on Tuesday launched the JioBharat V3 and V4 4G smartphones at the ongoing Indian Mobile Congress (IMC) 2024. The devices, according to the company are aimed at 2G users looking to shift to 4G phones. The two new feature phones are the successors of the popular JioBharat V2 feature phone. In addition to offering calling services, these phones also bring <keyword id="22558342" type="General" weightage="20" keywordseo="JioPay" source="keywords">JioPay</keyword> integration, live TV services, and more. <div type="Article" hostid="261" msid="114203740" title="Hyundai IPO review – Everything you need to know about India’s biggest IPO" mstype="2" mssubtype="0"></div> <h2>JioBharat V3 and V4 price in India</h2>The JioBharat V3 and V4 are both priced at ₹1,099 in India. The phones will be available from Amazon India, JioMart and the company’s authorised offline retailers across the country. <h2>JioBharat V3 and V4 recharge plan</h2>Jio has also announced a recharge plan for the JioBharat V3 and V4 feature phones. The company has introduced an ₹123 plan that will offer unlimited calls and 14GB of data per month. <h2>JioBharat V3 and V4 features</h2>The JioBharat V3 has been launched with a style-centric approach, aimed at users primarily looking at form, while the <keyword id="23557662" type="General" weightage="20" keywordseo="JioBharat-V4" source="keywords">JioBharat V4</keyword> focuses on features, aimed at users looking at function. The JioBharat V3 features a sleek design, keeping design in mind over functionality. The JioBharat V4 on the other hand packs features, despite featuring a minimalistic design. The JioBharat V3 and V4 are both equipped with a suite of Jio services, including JioPay which gives access to unified payments interface (UPI), JioTV, which offers access to 455 live TV channels, JioCinema and more. The two smartphones support 23 Indian languages and come with expandable storage of up to 128GB. The devices are powered by a 1,000mAh battery. <div type="Article" hostid="261" msid="114241402" title="Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market" mstype="2" mssubtype="0"></div> The JioBharat V3 and V4 also come with JioChat support, offering unlimited messaging, voice messages, group chat and more on the platform. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-record-4-growth-in-q3-2024-samsung-leads-the-market/articleshow/114241402.cms">Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market</a> <a href="https://www.businessinsider.in/stock-market/webstories/hyundai-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114235421.cms">Hyundai IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-p1-speed-5g-vs-redmi-note-13-5g-which-phone-should-you-buy-under-20000/slidelist/114244322.cms">Realme P1 Speed 5G vs Redmi Note 13 5G – Which phone should you buy under ₹20,000?</a>

JioBharat V3 and V4 4G feature phones launched at ₹1,099

New Delhi: Prime Minister Narendra Modi will inaugurate the 8th edition of the International Telecommunication Union - World Telecommunication Standardization Assembly (<keyword id="23549707" type="General" weightage="20" keywordseo="ITU-WTSA" source="keywords">ITU-WTSA</keyword>) at <keyword id="19950568" type="General" weightage="20" keywordseo="Bharat-Mandapam" source="keywords">Bharat Mandapam</keyword> here in the national capital today. This is the first time the ITU-WTSA will be hosted in India and the Asia-Pacific. Prime Minister will also inaugurate the 8th edition of the <keyword id="21058244" type="General" weightage="100" keywordseo="India-Mobile-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="India Mobile Congress" meta.hostid="261" meta.entityid="India Mobile Congress">India Mobile Congress</keyword> (IMC), with the theme, "The future is now." Prime Minister Modi took to X to announce both events, saying, "At 10 AM tomorrow, 15th October, the International Telecommunication Union - World Telecommunication Standardisation Assembly and the India Mobile Congress 2024 will be inaugurated. These forums are important ones, bringing together leading stakeholders from across the sector." Aa per a statement by the Prime Minister's Office (PMO), the event will be facilitating interactions with various industry leaders, policy-makers and tech experts from over one ninety countries. It is a pivotal global event that will bring together more than 3,000 industry leaders, policy-makers and tech experts from over 190 countries, representing telecom, digital, and ICT sectors. The ITU-WTSA event will also facilitate discussion on the standards set for new age technologies such as 6G, AI, IoT, Big Data, cybersecurity, etc. "Hosting this event in India will provide the country an opportunity to play a key role in shaping the global telecom agenda and to set the course for future technologies. Indian startups and research institutions are set to gain critical insights into developing Intellectual Property Rights and Standard Essential Patents," the PMO said. India Mobile Congress 2024 will be showcasing the telecom ecosystem, with leading telecom companies highlighting advancements in Quantum technology and Circular Economy along with spotlight on 6G, 5G use-case showcase, cloud &amp; edge computing, IoT, semiconductors, cybersecurity, green tech, satcom and electronics manufacturing. India Mobile Congress is Asia's largest <keyword id="21099140" type="General" weightage="20" keywordseo="digital-technology" source="keywords">digital technology</keyword> forum, and has become a well-known platform across the globe for showcasing innovative solutions, services and state-of-the-art use cases for industry, government, academics, start-ups and other key stakeholders in the technology and telecom ecosystem. The IMC will feature over 400 exhibitors, 900 startups, with participation from over 120 countries. The event also aims to showcase more than 900 technology use case scenarios, host more than 100 sessions and discussion with over 600 global and Indian speakers.

PM Modi to inaugurate 8th ITU's telecom standard meet, India Mobile Congress in Delhi today

<ul class="summary-list"><li>Mobile World Congress, a mobile communications trade show, is coming to Las Vegas this week.</li><li>This year, it focuses on enterprise transformation, AI networks, and 5G edge computing.</li></ul>Techies, salespeople, and industry executives are arriving in Nevada this week for MWC Las Vegas, which kicks off today.Big-name companies are set to be in attendance, with speakers from Nvidia, Salesforce, and UScellular giving presentations or panel talks.The annual mobile-communications trade show brings more than 250 exhibitors, sponsors, and partners to the Las Vegas Convention Center in Sin City from Tuesday to Thursday."MWC Las Vegas 2024 is North America's top event for businesses and industries looking to harness the power of 5G and AI," Lara Dewar, chief marketing officer of the conference's organizer, GSMA, told Business Insider. "It brings together leading experts in 5G technology, showcasing real-life use cases that demonstrate how 5G, edge computing, and IoT are transforming industries, driving innovation, and solving critical business challenges."5G technology is on track to add $210 billion in GDP to the North American economy by 2030, GSMA's "Mobile Economy North America" <a target="_blank" class="" href="https://www.gsma.com/solutions-and-impact/connectivity-for-good/mobile-economy/northamerica/">report said</a>.Key themes at MWC this year include enterprise transformation, AI networks, and 5G edge computing."5G is at a pivotal point at the moment, in particular when it comes to the opportunities for B2B business," Dewar said. "Telcos are looking to monetize their investments in 5G and they need to look beyond core telecom solutions and service areas, which offer limited headroom for growth. Enterprise spending on tech services, such as cloud and data center, cybersecurity, <a target="_blank" class="" href="https://www.businessinsider.com/iot-devices-security-concerns-5g-networks-2023-11">IoT</a>, analytics, AI, blockchain and network <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/what-is-an-api">APIs</a> — is around five times the spend on traditional communications at $1.16 trillion in 2023."<a target="_blank" class="" href="https://data.gsmaintelligence.com/research/research/research-2024/the-opportunity-for-operators-in-b2b-technology-services">Research</a> that GSMA Intelligence released this month suggests there's an addressable market of more than $400 billion, or roughly 35% of the current mobile-operator revenue base globally, for telecommunications companies trying to drive revenue in the business-to-business space.Over its three days, the conference is scheduled to feature sessions on applications of 5G and connected technology in everything from transportation and healthcare to homeland security and entertainment. Sponsors and partners this year include Verizon, Qualcomm, T-Mobile, Cisco, Microsoft, and Booz Allen.Major phone makers have launched 5G-enabled devices in recent years, with Samsung launching its first 5G-compatible phone in 2019 and Apple doing so in 2020. This year, artificial-intelligence features were the key focus for smartphone makers, with Apple announcing Apple Intelligence and Samsung and Google announcing new AI features for their respective Galaxy and Pixel lines.Ulf Ewaldsson, T-Mobile's president of technology and one of the speakers for the conference's opening keynote Tuesday, said it's "an incredibly exciting time" in the industry."Right now, we're at a bit of a crossroads in the 5G journey. We're about halfway through its lifecycle," he said. "There's major themes beyond 5G standalone to keep an eye on, like AI and <a target="_blank" class="" href="https://www.gsma.com/solutions-and-impact/technologies/networks/5g-network-technologies-and-solutions/5g-advanced/">5G Advanced</a>. The most exciting thing to me about MWC Americas this year is sharing the progress we've made to empower businesses to leverage the power of 5G like never before, with powerful capabilities like network slicing benefiting across different industries and enterprises."The trade show in Vegas comes more than seven months after Mobile World Congress Barcelona, which is also hosted by GSMA. That conference attracted device makers including Motorola, Xiaomi, OnePlus, Lenovo, and the AI-pin company Humane.For the Vegas conference, notable speakers include Nvidia's senior vice president for telecommunications, Ronnie Vasishta; Verizon Global Services' president, Shankar Arumugavelu; the Department of the Air Force's chief information officer, Venice Goodwine; and Randi Zuckerberg, the CEO of Hug and Meta CEO Mark Zuckerberg's sister.

Techies, salespeople, and industry execs arrive in Las Vegas for the Mobile World Congress trade show

<ul><li><keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> users in several areas, including Mumbai have reported a disruption in services.</li><li>Users have taken to social media to complain about the outage.</li><li><keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> has not said anything about the outage or when the services will be restored.</li></ul> In a widespread outage on Tuesday, Jio services were disrupted in several areas, including parts of Mumbai. Jio users took to social media to complain that they were unable to place calls on their devices. In addition to the mobile network, the disruption has reportedly also impacted JioFiber. Users have reported that they are unable to access the internet on their JioFiber. This is not the first time a massive outage has affected Jio users. In November 2022, Jio services were <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-users-are-reportedly-unable-to-call-and-send-messages/articleshow/95846445.cms">down</a> for a long time, preventing users from placing calls or sending messages from their numbers. <h2>Downdetector records several reports</h2> <div type="image" title="Untitled design" msid="113421558" hostid="261" caption="&amp;lt;p&amp;gt;Surge in outage reports for Jio&amp;lt;/p&amp;gt;"></div> Downdetector, a popular website that tracks outages across websites and applications, has reported a massive spike in reports about Jio being down. Over 10,000 reports were registered on Downdetector for Jio. While some users complained about the outage on social media, others used humour to talk about it. <div type="twitter" handle="Harsh_humour" handlename="Harsh_humour" favoritecount="0" retweetcount="0" id="1835953700474703942"></div> <div type="twitter" handle="sarcastic_us" handlename="sarcastic_us" favoritecount="0" retweetcount="0" id="1835936356922773951"></div> Reliance Jio has not said anything about the outage or when the services will be restored. <h2>Jio app and website are down too</h2>It’s not just Jio’s services, the telco’s own website and app are currently down. If you open the app, it is stuck on the white loading screen, while the website gives a “this site can’t be reached” error. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-neo-vs-nothing-phone-2a-which-phone-should-you-buy-under-25000/slidelist/113417314.cms">Motorola Edge 50 Neo vs Nothing Phone (2a) – Which phone should you buy under ₹25,000?</a> <a href="https://www.businessinsider.in/tech/mobile/news/ios-18-update-to-start-rolling-out-today-eligible-devices-features-and-more/articleshow/113413108.cms">iOS 18 update to start rolling out today – eligible devices, features and more</a> <a href="https://www.businessinsider.in/tech/news/alienware-aw3225qf-32-inch-qd-oled-gaming-monitor-review-for-the-perfect-gaming-experience/articleshow/113404175.cms">Alienware AW3225QF 32-inch QD-OLED gaming monitor review – for the perfect gaming experience</a>

Jio down – Jio services disrupted, users complain on social media

The electric vehicle (EV) market in India is evolving rapidly, and with the festive season approaching, many consumers are contemplating whether to wait for the usual <keyword id="23152657" type="General" weightage="20" keywordseo="festive-discounts" source="keywords">festive discounts</keyword> or take advantage of government incentives. One of the key schemes driving <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword> has been the Faster Adoption and Manufacturing of Hybrid and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (FAME) initiative in 2015, which is transitioning to phase 2 in 2019. As per the recent announcement from the government, the government is replacing FAME II with a new scheme for the next two years. And no, it’s not FAME III! <h2><keyword id="23136597" type="General" weightage="100" keywordseo="PM-E-Drive" source="keywords">PM E-Drive</keyword> subsidy comes into effect</h2>The PM E-Drive subsidy aims to build on the success of previous versions, where over 16 lakh vehicles benefited from FAME 2. However, unlike its predecessor which included subsidies for passenger EVs, PM E-Drive has reportedly limited subsidies to only two-wheelers, three-wheelers, buses, hybrid ambulances and electric trucks. All in all, the scheme, with an outlay of Rs 10,900 crores, is expected to support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses, along with a plethora of other features to improve the national e-mobility ecosystem. This also includes 22,100 fast chargers for e-4 Ws, 1800 fast chargers for e-buses and 48,400 fast chargers for e-2W/3Ws that will be set up in selected cities with high EV penetration and highways to allay the “range anxiety” of EV buyers. More specifically, Rs 3,679 crores have been provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. These incentives are expected to help reduce the upfront cost of electric vehicles, making them accessible to a larger segment of the population. Additionally, state-run bus companies will likely see increased support, further boosting the public transport EV ecosystem.<div type="Article" hostid="261" msid="113282182" title="Automobile industry hails PM e-DRIVE scheme to promote EVs" mstype="2" mssubtype="0"></div>As a result, PM E-Drive will particularly benefit individuals and businesses looking for two- and three-wheelers, as well as state transportation corporations. Small businesses that rely on electric three-wheelers for deliveries or passenger services could also see significant savings, which can be reinvested into their operations. <h2>How does it compare to festival deals?</h2>While the <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> under PM E-Drive offer substantial savings, festival season sales from EV manufacturers can provide additional discounts and promotions, such as reduced down payments, lower interest rates, and free charging infrastructure. However, these discounts are often limited-time offers and might not match the long-term financial benefits provided by government subsidies. For example, if you’re in the market for a <keyword id="23152655" type="General" weightage="20" keywordseo="two-wheeler-EV" source="keywords">two-wheeler EV</keyword>, PM E-Drive incentives might be more valuable than a one-time festive discount of Rs 5,000 to Rs 10,000, based on the final discounts that automakers provide. Additionally, manufacturers sometimes adjust their prices before offering festival deals, potentially reducing the actual discount. On the other hand, FAME subsidies are fixed and directly reduce the vehicle's purchase cost. Therefore, if you're primarily looking at entry-level electric vehicles like scooters or bikes, PM E-Drive might offer a more substantial and stable financial benefit than waiting for festive discounts. <div type="Article" hostid="261" msid="113239075" title="Drivers are feeling better about EV range and charging infrastructure, but still aren&amp;#39;t ready to go electric" mstype="2" mssubtype="0"></div><h2>Should you buy now or wait?</h2>The decision to wait for the festival season or go ahead with the purchase largely depends on what you're looking for. If you're in the market for an electric two-wheeler or three-wheeler, the government subsidies under PM E-Drive — when they finally arrive — could be more beneficial than the temporary discounts during the festival season. However, if you're eyeing an electric car, especially a high-end one, the limited scope of PM E-Drive for passenger EVs might mean that festival offers provide better value. If you’re contemplating waiting for the festival season to purchase an electric two-wheeler, these festive offers could stack up alongside the PM E-Drive subsidies, if automakers integrate the scheme into their pricing by then. Festival deals may even provide additional perks such as easy EMI options and free service packages, which aren't typically covered under government schemes. Therefore, it's worth evaluating both festive deals and FAME subsidies to maximise savings. In conclusion, the launch of PM E-Drive brings a solid financial incentive to accelerate India's transition to <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>. Those considering two- or three-wheelers may want to act quickly as these subsidies roll out, while car buyers might want to weigh their options as the festive season approaches.

Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

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