RCom signs pact with Radio Netherlands Worldwide

R World–the mobile portal from Reliance Communications--would offer 24/7 live streaming of Radio Netherlands Worldwide

ADAG company Reliance Communications (RCom) has signed an agreement with broadcast company Radio Netherlands Worldwide.

Under the agreement, R World-the mobile portal from RCom--would offer 24/7 live streaming of Radio Netherlands Worldwide and will showcase its RNW WAP news feed on RWorld which includes regularly updated international news.

"News plays an important role in our day-to-day lives. Be it a college student, a young executive, a corporate chieftain or a small town entrepreneur," RCom 3G Head Prashant Gokarn said in a statement.

Radio Netherlands Worldwide (RNW) is a multilingual multimedia broadcasting company based in the Netherlands and has been in operation since last 60 years.

"We are extremely delighted about our collaboration with Radio Netherlands Worldwide to offer live news to our 125 million customers at touch of a button on R World," Gokarn said.

"This is the first telecom company with which we have a partner relationship and we are looking forward to many more on a global basis along with advancements in technology," said Jan Hoek, RNW's Director General.

RNW will be available on RWorld at browsing cost of 5 paise per 10kb.

On Friday, RCom ended 6.80% down at Rs93.15 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.60% to 18,211.52.

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L&T Infra Finance may raise funds via ECB next fiscal

L&T Infrastructure intends to raise Rs100 crore through its infrastructure bonds

L&T Infrastructure Finance Company, an L&T Group company, may undertake external commercial borrowings (ECB) route to raise funds in the next fiscal.
According to Ramesh Bhujang, vice president-risk and asset management, the company is exploring an option of going for ECBs in the first half of next fiscal.

"As per RBI guidelines, we are eligible to raise 50% of our net worth which is at present between Rs1,100 crore to Rs1,200 crore. We are in negotiations with a few banks. However we have not decided the exact amount. We will decide that based on market conditions," Bhujang said.

L&T Infra has come up with its second tranche of infrastructure bonds recently.

The company intends to raise up to Rs100 crore through these bonds with an option to retain an oversubscription of up to Rs300 crore for allotment of additional bonds.

GK Shettigar, vice president (Treasury) said the total outstanding advances of the company is Rs5,200 crore with a disbursement ratio of 35 per to power sector, 14% in road projects and 16% in oil and natural gas and telecom sectors.

On Friday, L&T ended 3.19% down at Rs1,639.75 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.60% to 18,211.52.

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Indian Bank hikes lending rate by 25 basis points

Indian Bank has hiked lending rate for its existing customers to 13.75% in line with other banks

State-owned lender Indian Bank has hiked lending rate for its existing customers by 25 basis points to 13.75% in line with other banks.

The Bank has revised its benchmark prime lending rate (BPLR) from existing rate of 13.5% to 13.75%, Indian Bank informed the Bombay Stock Exchange in a filing.

This will make all kind of existing loans, including housing and auto loans, expensive by at least 25 basis points.

Last week, the country's largest lender State Bank of India raised both lending and deposit rates on select maturities by 25 basis points in response to policy rate hike announced by the Reserve Bank of India on 25th January.

On Friday, Indian Bank ended 0.56% down at Rs220 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.60% to 18,211.52.

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