COAI for single audit to meet requirements of multiple agencies Posted on 17th December 2018 |
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| Ahead of the planned special audit of telecom operators, industry body COAI has favoured a single audit exercise that meets the requirements of multiple stakeholders like the telecom department and sector regulator Trai. “The DoT is entitled to do audits and we can’t argue with that. But can we get to a point where a single audit exercise is conducted by one entity that is agreed to by all parties as competent, to do detailed checks required by various stakeholders like CAG, telecom department and Trai,” Cellular Operators Association of India (COAI) Director General Rajan Mathews said. Mathews said the authorities that require audits to be conducted can spell out their requirements and the details they need, to the firm selected from the pre-qualified list. The firm that audits can then issue reports based on the individual specifications of various agencies that require such audits to be conducted. “Telecom Regulatory Authority of India (Trai), for instance, requires billing audit to be conducted and that ties also into the revenues (revenue aspect is something that government’s audit will dwell into as well) ...These are inter-twined issues and a single audit makes sense,” Mathews said. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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