Google has agreed to stop scanning the inboxes of the users of Gmail for ad personalization by the end of this year. But it will continue to place ads on users’ Gmail.
The biggest lending bank to telecom sector, State Bank of India (SBI) has asked for the spectrum as collateral because it is unsure about sector’s ability to service their loan. Lending banks now demand that they should be allowed to take over spectrum allocated to telcos in case of a default.
Aruna Sundarajan, who has recently been appointed as the new telecom secretary, said that she will try to do her best to bring the telecom sector out of its current debt crisis. She said that the government wants telecom players to grow in a healthy and sustained manner and will continue to engage with them in order to understand the magnitude of their problem.
The massive telecom debt has disturbed not only the lending banks but also the government. Recently, the inter-ministerial group (IMG) brainstormed to look for the solution to Rs 4.6 lakh crore telecom debt.
The telecom sector is under great financial stress and the incumbent telcos have blamed Reliance Jio for this mess. Now a report by Jefferies (released on June 21) says that the telecom operators faced 11.7% decline in their revenue due to RJio’s free offerings, which stopped only recently.
The GST will come into force from July 1. Telecom operators are adjusting their billing systems as per the new requirement. The government has fixed 18% GST for telecom services. At present, telecom services attract a lower 15% service tax.
Focusing on premium long form storytelling, the digital media company Culture Machine is ready to expand its business offerings with the launch of a new studio. To achieve the desired target, the company has promoted Tuhin Menon as president. He was till now the head of business development and talent.
The massive success of ChuChu TV has once again proved that people want OTT. ChuChu has just 154 videos and hasn’t even completed 4 years into business, but has added 10 million subscribers, making it the fastest ever growing YouTube channel in the world in the family entertainment and preschool education space.
GTPL Hathway’s IPO got an overwhelming response on final day (23 June). The IPO was oversubscribed 1.52 times, receiving bids for 30.86 million shares against the total issue size of 20.21 million shares, excluding the anchor investors’ portion.
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