Archive for December, 2009

Telenor mobile operations in India soon

December 2nd, 2009

Telenor a Norwegian telecom firm will  launches its mobile operations in India on Thursday.

Telenor will face the competition from Bharti Airtel, MTS, Aircel, Bsnl, Mtnl, Reliance Communications, Tata cdma, Tata docomo and Vodafone Essar.

Last month, Telenor CEO Jon Fredrik Baksaas said the company would price its call charges in India competitively but would not be the most aggressive. The company is aiming for an 8 percent share within five years of the India launch.

Punjab nationa Bank slashes interest rates on various NRI deposits

December 2nd, 2009

Punjab National Bank has cut down the interest rates on various NRI deposits of foreign curency denominations like for US dollar denominated deposits pnb slashes the rates in the range of 0.18 per cent to 0.38 percentage points similarly slashed rates on most pound, euro, Canadian dollar and Australian dollar deposits.

Birla Sun Life joins MFSS (mutual fund service system)

December 2nd, 2009

Birla Sun Life joins the mutual fund service system (MFSS) recently launced by National Stock Exchange.

“The various schemes of Birla Sun Life Asset Management Company Ltd will be permitted on the MFSS with effect from December 3,” the NSE said in a circular today”

70,000 affordable homes coming in Gurgaon Haryana

December 2nd, 2009

Good news for budget families searching for affordable home in National Capital Region (NCR) to buy becuase Haryana government coming up with a mega project in Gurgaon.The project will be completed within 6 months.

The 1,400-acre project, coming up in the southern region of Gurgaon (Sector 58-115) which will provide houses to approximate 70,000 families.  Haryana Urban Development Authority (Huda) will develop 1,000 acres, while the rest will be developed by private players like Emmar-MGF and DLF.

The rate of Huda flats will vary from Rs 13 lakh to Rs 50 lakh, depending on the size and location. Comparable dwellings in Gurgaon begin with a price tag of Rs 30 lakh at present. According to Huda rules, all such residential projects have to leave 10% for economically weaker sections and another 10% for multiple housing units (group housing societies).

“We have decided to deviate from the earlier practise by readying complete infrastructure on the site before unveiling the housing schemes by Huda or private builders. Our other guidelines for housing poor and economically weaker sections remain unchanged,” said TC Gupta, director, town and country planning and special secretary, housing.