Citizens' Issues
Only 45 percent 3G devices have 3G subscription: Nokia
Communications company Nokia on Wednesday said only 45 percent of 3G capable devices have a valid 3G subscription in India.
 
According to a study by the company, India has witnessed 26 percent 3G subscription growth in six months, while 3G penetration in India was only 24.59 percent which speaks of a huge opportunity for telecom operators.
 
As per the report, one in every four Indians already has a capable 3G device (supporting 2,100 MHz band), while 3G subscribers today are only at 100 million.
 
Among them, there are 15.58 percent (144 million) 3G phone penetrations on 900 MHz. It said this can help boost 3G services in India in the 900 MHz band in future.
 
There is a huge potential in cities other than metros as well. Mumbai has the highest penetration of 3G, followed by Delhi.
 
As per the study, the top 5 circles as per 3G device penetrations are Mumbai, Delhi, Kerala, Punjab and Kolkata.
 
West Bengal, Bihar, Uttar Pradesh (East), Assam and Odisha have the lowest 3G phone penetration.
 
However, there is huge subscriber population in these states and hence potential for 3G services is immense in these states.
 
"A significant population of subscribers today has 3G enabled devices which are still untapped. There is a possibility of 4G leapfrogging 3G in terms of new subscriber addition, since the price point of LTE devices are expected to come done from Rs.8,000 level to around Rs.4,000 level in next few months," head of technology at Nokia Networks, Amit Marwah, said in a statement.
 
The report furthers that LTE device penetration is still low at 1.61 percent.
 
It said 1,800 MhZ enabled LTE devices leads with 1.45 percent (13.3 million) followed by 2,100 MhZ enabled devices at 1.2 percent.
 
"India today has about 14.8 million capable subscribers who are using 4G phones, but 4G subscriptions is still significantly lower. Mumbai, Delhi, Kerala Punjab, Karnataka have LTE device penetration (on LTE 1800/ FD LTE) over two percent of their subscriber base," the statement said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Set up insolvency regulator, information utilities: Committee
Establishment of Insolvency Regulator, Insolvency Adjudicating Authority, and Insolvency Information Utilities are among the recommendations of the Bankruptcy Law Reform Committee made to the central government on Wednesday.
 
In the report submitted to union Finance Minister Arun Jaitley, the committee also made various other recommendations including fast tracking of insolvency proceedings, regulation of professionals/agencies involved in insolvency, an official statement said.
 
The report, submitted by chairman of the Bankruptcy Law Reform Committee T.K. Viswanathan, the former law secretary, to Jaitley also framed the draft Insolvency and Bankruptcy Bill, consolidating the existing laws relating to insolvency of companies, limited liability entities (including limited liability partnerships and other entities with limited liability), unlimited liability partnerships and individuals.
 
According to the committee, the enactment of the proposed Bill will provide greater clarity in the law. 
 
It will also facilitate the application of consistent and coherent provisions to different stakeholders affected by business failure or inability to pay debt and address the challenges being faced for swift and effective bankruptcy resolution.
 
The Bill seeks to improve the handling of conflicts between creditors and debtors, avoid destruction of value, distinguish malfeasance vis-a-vis business failure and clearly allocate losses in macroeconomic downturns.
 
The Viswanathan committee was set up after Jaitley in his 2015-16 budget speech said the bankruptcy law reform is a key priority for ease of doing business in the country.
 
The committee report has been uploaded on the finance ministry's website for public comments by November 19, 2015.
 
After taking the suggestions/views into consideration, the government will take a final decision on the report and introduce the bill in Parliament as early as possible, the finance ministry said.
 
The committee has recommended Debt Recovery Tribunal (DRT) to be the adjudicating authority with jurisdiction over individuals and unlimited liability partnership firms.
 
The National Company Law Tribunal (NCLT) shall be the adjudicating authority with jurisdiction over companies, limited liability entities.
 
The National Company Law Appellate Tribunal (NCLAT) shall be the appellate authority to hear appeals arising out of the orders passed by the Regulator in respect of insolvency professionals or information utilities.
 
The draft bill proposes to revamp the revival/re-organisation regime applicable to financially distressed companies and limited liability entities; and the insolvency related liquidation regime applicable to companies and limited liability entities.
 
The draft bill prescribes a period of 180 days for dealing with applications for insolvency resolution. It can be extended for 90 days only in exceptional cases.
 
The draft bill also provides for a fast track insolvency resolution process- 90-day limit- which may be applicable in certain categories of entities.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Indian government takes exception to Moody's Analytics report
The Indian government on Wednesday reacted sharply to a comment by Moody’s Analytics that Prime Minister Narendra Modi must check party members from making controversial statements, or risk losing global credibility.
 
"It is with regret the Government of India notes the irresponsible and distorted reporting by certain sections of the Indian media on what was the personal opinion of a junior associate economist employed with Moody’s Analytics," the government said in a statement.
 
"It is surprising that sections of the Indian media failed to make a distinction between Moody’s Analytics which is merely a data and analytics firm and Moody’s Investor Services, which provides Ratings services," it said.
 
"Opinion of a junior associate economist employed with Moody’s Analytics has been splashed all across implying it as the opinion of Moody’s Analytics. The government notes with distress that the personal opinion of a junior analyst was passed off as a commentary on India by a rating agency by the media to buttress the narrative it wants to portray."
 
In an analysis titled "India Outlook: Searching for Potential", Moody's Analytics had said that while the prime minister's BJP does not have a majority in the upper house to pass crucial reforms, the government also hasn't helped itself with controversial comments from various members. 
 
"While Modi has largely distanced himself from the nationalist gibes, the belligerent provocation of various Indian minorities has raised ethnic tensions. Along with a possible increase in violence, the government will face stiffer opposition in the upper house as debate turns away from economic policy," it said.
 
"Modi must keep his members in check or risk losing domestic and global credibility."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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