Leisure, Lifestyle & Wellness
Mumbai has highest percentage of digitization, Delhi 2nd

“As per the data provided by Multi-System Operators, the percentage of digitisation in Delhi has gone up to 101%. In Mumbai, it is 118% whereas in Kolkata it is 85% and in Chennai it stands at 63%,” statement released by the I&B ministry said

New Delhi: After the analogue television signal was switched off at midnight of 31 October 2012 in Delhi, Mumbai and Kolkata, the I&B ministry claimed that Mumbai has the highest percentage of digitisation followed by Delhi with more than 100% coverage, reports PTI.

 

“As per the data provided by Multi-System Operators, the percentage of digitisation in Delhi has gone up to 101%. In Mumbai, it is 118% whereas in Kolkata it is 85% and in Chennai it stands at 63%,” statement released by the ministry said.

 

The first phase of digitisation covered Delhi, Mumbai, Kolkata and Chennai. While the ministry has gone ahead with its digitisation plan in Delhi, Mumbai and Kolkata, analogue cable TV signals continued in Chennai due to an interim stay granted by the Madras High Court.

 

In its statement today, the I&B ministry said that as per 2011 census figures, 103.76 lakh households are there in four metro cities.

 

The consumer can select channel packages as per their choice or from a-la-carte list, the I&B ministry statement said. The bill is generated by the system as per the channels chosen by the cable subscriber, it added.

 

The consumer can also subscribe to high definition channels and digital cable TV will also enable the provision wherein in addition to the TV—internet, radio, telephony would also be available through the same cable line, the ministry said.

 

It said MSOs had been asked to certify that analogue signals have been switched off. It has been reported that analog signals have been switched off from all the head ends in Delhi and Mumbai while Kolkata has given mixed reports, the ministry said.

 

The ministry said MSOs had also been asked to set up kiosks in poorer colonies to ensure STBs are available at the determined price of Rs799 on the spot.

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Rs26.5 hike in cooking gas cylinders put on hold

“The price hike has been put on hold,” a top oil company official said declining to give a reason for the same

New Delhi:  Facing stiff opposition, the government on Thursday put on hold the Rs 26.5 increase in price of cooking gas cylinders that consumers buy beyond their quota of six subsidised bottles, reports PTI.

 

“The price hike has been put on hold,” a top oil company official said declining to give a reason for the same.

 

The latest increase in non-subsidised cooking gas has been reversed and it will be available at old rates.

 

The official said there is no change in the decision to hike price of commercial LPG cylinders.

 

Earlier in the day, the price of LPG cylinders, which consumers buy beyond the cheaper quota of six bottles, was hiked by Rs 26.50 to Rs 922 per unit on firming international rates.

 

The government had in September restricted the supply of subsidised domestic LPG cylinders to six per household in a year. State-owned oil firms revise rates of non-subsidised LPG on first of every month based on the average imported cost and rupee-US dollar rate during the previous month.

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Germany's Ergo forges JV with Avantha for life insurance foray

“The new company will offer life insurance products to private customers. With this strategic move, Ergo continues to pursue its international growth strategy,” the German firm Ergo said in a release"

 
New Delhi: Germany’s Ergo Insurance Group has inked a 26:74 joint venture pact with Avantha Group to foray into India's life insurance space, five years after it had entered into the non-life space in association with HDFC, reports PTI.
 
“The new company will offer life insurance products to private customers. With this strategic move, Ergo continues to pursue its international growth strategy,” the German firm said in a release.
 
India allows foreign firms to have a maximum 26% stake in life insurance joint ventures. Ergo would increase its share once the regulatory framework allows to do so. 24 life insurers are currently operating in the country, as per Insurance Regulatory and Development Authority (IRDA) website.
 
“The life insurance joint venture will primarily offer unit-linked and traditional life insurance products to private customers in India. Ergo contributes its technical and risk management expertise and international know-how in setting-up life insurance operations,” the statement said.
 
The venture, Avantha Ergo Life Insurance Company, would have its head office in Mumbai and plans to start operations from 2014, subject to regulatory approvals.
 
“India currently represents more than 17% of the world's population, but only two per cent of the total life insurance premiums. This is one reason why we believe the Indian life insurance market will expand and that it is highly attractive for new private players,” Jochen Messemer, chairman of the Board of ERGO International AG, said.
 
“The long-term growth projections for the economy as well as the insurance market are strong and positive, particularly after some regulatory adjustments in 2010-2011 in the Indian life insurance market,” the statement said.
 
Ergo had forayed into the non-life insurance space in India in 2007 in association with HDFC. The venture offers non-life and health insurance products and is one of the top four private non-life insurers in India.
 
Founded in 1919, the diversified Avantha Group has presence in areas like paper processing, power transmission and distribution equipment as well as chemicals and information technology.
 
It employs around 20,000 people and clocks revenues of equalling 3.1 billion euros.
 

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