21st October - FINANCIAL EXPRESS

Noopur Gupta
Nikhil Kumar
Section -I

Telecom players hit fresh security wall with govt
Home ministry asked operator to provide LBS (Location Based Surveillance) of calls with 24x7 details
which will cost operators around Rs.10,000 to Rs. 25,000 Crore.
According to the home ministry LBS would prevent terror attacks like one in Mumbai on 26/11/2008.
The idea has been borrowed from the emergency(E)911 service in the US. Which provides LBS
However, the home ministry has tried to tighten the security norms through LBS, RIM being asked to provide the relevant information by the end of the year and earlier through Stringent Import Norms to share the software and hardware source code with the Govt..
Recently, home minister has asked operators to stop providing mobile connections through retailers and distributors and opt for courier and post services.
Govt mulls new IIM curricula to suit India Inc
Kolkata, its education conclave by Indian chamber of commerce where HRD MINISTER KAPIL SIBAL said the following:
planning to bring changes in the IIM curriculum
present curriculum suits the western multinational needs more than the India's needs
he also said, the agricultural and rural bank sector especially deals with micro credit – needs IIM trained people
he bet big on the NATIONAL ACCREDITATION REGULATORY AUTHORITY 2010 which could have the following:-
800 more universities
40,000 colleges which will take in 40 million students passing out by 2020.
5. for this the Govt needs private support.
Green nod for Navi Mumbai airport in NOV
Civil Aviation Minister PRAFUL PATEL sounds optimistic on early resolution to the NAVI MUMBAI airport site issue by November.
The approval for the 2nd tranche of Rs.12,000 Cr equity infusion is expected next month and if the amount fails an additional Rs. 2000 Cr, aid will be provided later.
He adds that matter can't linger for long, as it was seriously affecting the growing air traffic in Mumbai.
The project had lit a road black in the past few months due to environment related issues.
New airport is expected to handle an additional 60 million passengers a year.
Sensex falls by 111 pts on China rate hike
MFI body seeks regulator to check indiscipline in sector
Mumbai, VIJAY MAHAJAN, President of MFIN (Micro Finance Institution Network) asked for a regulator to check indiscipline in sector.
MFIN regulator will go beyond the prudential regulation and cover all aspects like prevention of over lending, excessive profit and coercive recoveries and also grievance redressal of clients
flaying the ordinance of AP Govt. he said “Ordinance is anti – people”. It will drive poor people in the clutches of money lenders.
In fact, this ordinance gives Rs. 2,400 Cr in the hands of money lenders which will be a extra interest for the poor to pay.
The interest rate charged by MFI is 24% p.a. against 30% charged by money lenders.
SBI retail, corporate loan to be costlier from today
Retail and corporate loans will be costlier from Thursday. Even the (BPLR) Benchmark prime lending rate and base rate have increased
Base have increased 10bps from 7.50 % to 7.60 % BPLR have increased 25 bps from 12.25% to 12.50%.
SBI has lowest base rate at 7.6% in the industry.
Banks are compelled to increase lending rates since their cost of borrowing has risen .
Other banks including ICICI had increased deposit rate by 25 to 75bps across various maturities .