India’s cashless proposal could spur mobile payments

The Indian government published proposals to encourage greater take-up of electronic payments in a country where cash still rules. It suggested a range of measures, including tax benefits to merchants if at least half of their transactions are handled electronically. …

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Rcom and Sistema confirm merger talks

Russian investment firm Sistema has entered into “exclusive discussions” with Reliance Communications about a potential merger of their Indian telecoms businesses. In terms of connections, Rcom is significantly bigger than SSTL (which trades as MTS India) – 109.5 million wireless …

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India’s Jio set for mobile money launch

Indian market new-entrant Reliance Jio Infocomm is looking to put mobile money services at the heart of its proposition, as it looks to play “a crucial role in the digitalisation of payments in India”. Speaking at the AGM of Reliance …

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Telenor joins local operators to bid for banking licence

Norway’s Telenor has joined the crowd of local operators applying for payments bank licences in India. Telenor, according to the Economic Times, said it had teamed up with two partners to bid for a licence from the Reserve Bank of …

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India’s leading operators join rush for banking licences

Vodafone, Idea Cellular and Reliance Industries have all applied to become payments banks — cutdown versions of traditional banks which the Indian government hopes will boost financial inclusion. The operators are either in partnerships for their bids, or looking at …

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Indian government eyes $10B proceeds from spectrum auction

The Indian government wants to raise INR648.4 billion ($10 billion) from its forthcoming auction of spectrum in the 800 MHz, 900 MHz and 1.8 GHz bands. The government expects to realise a quarter of this sum — or INR160 billion …

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RCom profit falls as it continues to lose customers

India’s Reliance Communications continued to lose customers in the last quarter, with overall connections down 5 per cent from a year ago and 18 per cent from the same period in 2012. Even as its 3G connections increased from 9.1 …

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