The Norway government, which holds majority stake in Uninor is worried about its investment of about Rs14,000 crore in Indian operations after the SC judgement to cancel its licenses
New Delhi: Initiating dialogue at diplomatic level post cancellation of Uninor's 2G licences, Norway's IT Minister Rigmor Aasrud on Tuesday met telecom minister Kapil Sibal and discussed way forward while raising concern over its investments in Indian operations, reports PTI.
Uninor, a joint venture between Norway's Telenor and Indian realty player Unitech with Norwegian firm holding over 67%, offers services under Uninor brand across the country. The Norway government, in turn, holds majority stake in Telenor.
"We had good, fruitful and constructive meeting with telecom minister. We took up Telenor's case along with other issues," Asrud told reporters after the meeting.
Telenor claims to have invested over Rs14,000 crore in Indian operations to pick up stake in Uninor and roll out services across several circles.
Uninor has already said that it would file a review petition in the Supreme Court and also take up the matter with the government to secure its investments here.
"We are talking to the government because we need to protect our investment and we also need to make sure that there is a framework for continuing our operations and this is what all our discussions are all about," Uninor Managing Director and Telenor's Asia head Sigve Brekke said.
The company has said that it would wait for new rules on spectrum auction before taking a call to participate in it.
The Mahesh Rupay ATM card is expected to draw more users to its ATM channel and also reduce the overall transaction costs for the bank.
The A.P. Mahesh Co-operative Urban Bank has launched its Mahesh RuPay ATM card in collaboration with National Payment Corporation of India (NPCI). Intended primarily for no frills account holders, the Rupay ATM card is expected to draw more users to its ATM channel and also reduce the overall transaction costs for the bank.
Commenting on the launch, A P Hota, managing director and chief executive officer of NPCI said that in the longer run, increasing use of ATM cards will prove to be cost-effective for both the lenders and its customers and that the A P Mahesh Co-operative Urban Bank had taken a lead in the cooperative sector in south India by launching its ATM card.
According to reports, the bank's business has crossed Rs1775 crore and it plans to expand its branch network to other states in the country. At present, it has a total of 36 branches majority of which are located in Hyderabad and its twin city, Secunderabad.
Dr Subramanian Swamy talks about how to take the anti-corruption crusade forward
Thanks to the ruling by the Supreme Court on sanction for prosecution, there is now a way that every citizen can approach investigative authorities for taking corrupt officials or ministers to task, said Dr Subramanian Swamy, president of Janata Party and anti-corruption crusader.
“The media highlighted the part about the deemed sanction for prosecution if no decision is taken by government for more than four months after being approached by a citizen. However, Justices Ganguly and Sanghvi also made another important observation. They have ruled that any citizen can approach an investigative body with prima facie evidence against a corrupt official or minister; and can ask for an investigation. So if you know a corrupt official in your municipal Ward, and you have evidence, you can order for an enquiry,” Dr Swamy said.
He said that corruption must be fought at all levels, and must be taken up in a political way. He referred to Anna Hazare and said, “Anna must lose his mistrust for politicians, and work together. Participating in party politics is the way of democracy.” He pointed out that where as Anna has a huge following among the masses, Baba Ramdev has an equally impressive following among backward classes. Together, they can bring about a political change.
He said, “One way to combat corruption is by using technology. Online transactions and downloads has ushered in transparency in many sectors. The other thing to do is to make an example out of the corrupt who are being caught. The fear of getting caught and punished heavily must prevent people from taking bribes or engaging in corruption.”
Dr Swamy also said that it is important to stay positive during the fight. “If you turn cynical, you will lose the battle. Be positive. There are good people who are helping us, there are honest judges and officials who are making things work and taking a stand against the corrupt government. I believe I have demonstrated that we can get results by fighting within the system. All we need is Parliament where only 10% of the people are honest, we are going to have phenomenal progress,” he said.
He gave example of himself, when he was elected twice in 1977 from Bombay, despite not having money. “When people are ready to change, money is not a problem,” he said.