Chartered Accountant ( 公認会計士) (공인 회계사 )(CONTABILISTAS) (CONTADORES PÚBLICOS) (ДИПЛОМИРОВАННЫЕ БУХГАЛТЕРЫ СЧЕТОВОДИТЕЛИ) (会计师事务所) (COMPTABLES CHARTERES) (WIRTSCHAFTSPRÜFER) (сметководители) (MUHASEBE MÜTEAHHİTLİĞİ) (محاسبون قانونيون) (CHARTERED AKUNTAN)(Geoktrooieerde Rekenmeesters)(registeraccountants)(RAGIONIERI REGISTRATI)חשבונות רואי חשבון) (This blog is non-commercial and is used here to put important news only for the educational purpose of Students doing CA and CS.
Monday, November 30, 2020
DO YOU KNOW ABOUT YOUR SECOND HEART IN THE BODY ?
Saturday, November 28, 2020
Why I am Logging out of All Reliance Businesses- by Binu S Thomas (www.moneylife.in).
Why I am Logging out of All Reliance Businesses- by Binu S Thomas (www.moneylife.in).
An Open Letter to Mukesh Ambani, CMD, Reliance Industries
Binu S Thomas
25
November 2020 122
Dear Mukeshbhai,
Thirty-five years ago, back in 1985 as a 23-year-old reporter freelancing for an international weekly news magazine, I had the privilege of sitting down with your late father Dhirubhai Ambani for a one-on-one interview. Dressed in immaculate white safari suit and seated on a pristine white sofa in his office in Maker Chambers IV, at Nariman Point in Mumbai, the business legend held forth on a number of issues. Both you and your brother Anil, who handled media relations then and facilitated the powwow, were present in the room, listening intently as your dad spoke.
The high point of the interview came when I asked Dhirubhai why Reliance, despite whopping profits, was not paying a single rupee as corporate income-tax year-after-year. That query irked him and he, quite literally, pulled his recent stroke-impaired frame to the edge of the sofa to drive home the point that Reliance was the highest tax payer in the country. More customs, excise, sales tax, octroi, he declared, than any other private company. As he saw it, the income-tax Reliance was not paying on account of reinvesting its profits to expand the business was both lawful and did not detract from its massive contribution to the national exchequer.
I have no doubt that, over the decades, Reliance has contributed lakhs of crores to the nation’s finances. Probably more than any other private company in India’s history. And that is a commendable achievement, one that I applaud.
But that was not enough to stop me from recently porting out of my Jio mobile connection. It will also not be enough, sadly, to make me rescind my decision to avoid consuming other products or services from Reliance entities, going forward. I will no longer be buying an electrical appliance from Reliance Digital, or grocery items from Reliance Retail or Jiomart or fuelling up at a Reliance Petroleum outlet. I will try my damn best to avoid tuning into any of 71 television channels Reliance controls through Network 18 and accounting, as you claimed in your 2019 Reliance AGM statement, for 800 million viewers or some 95% of the television viewing audience in the country. My Jio Wi-Fi connection, which expires next month, will not be renewed. You see I am simply logging out of all Reliance businesses.
Any right-thinking citizen, I believe, has to measure a large corporate not just by the usual yardsticks of the value-for-money it gives customers, the employment it provides to lakhs of people, the contribution to the national purse or the social responsibilities it discharges to the community at large. Large businesses, such as Reliance, have a special duty to ensure their market practices are fair and promote long-term consumer and, more importantly, national well-being.
In recent years, I have been distressed to note the competition-killing 'winner-at-all-costs' approach Reliance has been pursuing. When Jio launched, it announced free voice calls for life making it impossible for the competition, including your brother’s Reliance Communications, which had to incur exorbitant spectrum charges in the early years of the telecom revolution, to survive.
The Competition Commission of India (CCI) dismissed Bharti Airtel’s 2017 complaint against Jio saying free calls were fine since Jio did not have a dominant position in the industry (conveniently forgetting the predatory pricing was designed to precisely gain dominance which it since has). Soon after CCI initiated an investigation into Airtel and other telcos for allegedly trying to block Jio’s entry!
Banks that had lent to your competitor telcos were forced to incur massive losses on their loans. This since competitors resorting to predatory pricing was not anticipated by either lenders or borrowers who, rightly, expected the CCI to step in if such an eventuality were to arise. Since most of the affected banks were nationalised ones, the hit ultimately has to be borne by the taxpayer.
Meanwhile, you got to use a collapsed Reliance Communications’ spectrum for cheap. Then in October 2019, after much of the competition, including international heavyweight Vodafone, had been pretty much decimated, Reliance Jio announced it would now start charging consumers for voice calls. So much for life-time promises!
More recently, the passage of three controversial farm bills in parliament without discussion or debate have been conveniently timed to aid Reliance’s massive push into retail. The Farmers Produce Trade and Commerce Bill helps large private players like Reliance bypass the existing APMC structure and deal directly with farmers.
Not a bad idea, theoretically speaking, for farmers except that, in practice mega players like Reliance will effectively set the price they get and, over time, narrow their options for getting better prices elsewhere.
Two other bills, one dealing with promotion of contract farming and another removing stocking limits on many essential items of daily use like cereals, pulses, oils and onions, will also benefit large players like Reliance more than anyone else.
The entry of Reliance into any business over the years has been almost always accompanied by a sharp reduction in the competition in that business, often facilitated by exceptionally quick and uncannily favourable policy changes.
Back in your father’s heyday, the story, whether apocryphal or not, was of a seat being permanently booked for Reliance in business class of the Indian Airlines Airbus A300s that used to fly between Delhi and Mumbai, then Bombay. There was only one domestic airline at that time and only limited number of flights unlike today. A call from a friendly Indian Airlines station manager signalling which minister was booked to fly often resulted in the political worthy finding, abracadabra, a senior Reliance executive seated next to him for the nearly 90 minutes flight. No wrong committed even if true. It is well known that innovative policy influencing has long been practised at Reliance.
The recent decision of a Singapore arbitrator to temporarily stay, based on a petition filed by Amazon, the mega deal of Reliance acquiring India’s largest retail group Future Retail, has mysteriously led to a series of articles against foreign ecommerce players and the big daddy of them all, Amazon, in Reliance-controlled media outlets. “How foreign ecommerce giants pose a threat to Aatmanirbhar Bharat”, “Amazon deliberately mischaracterised Future Retail suit to confuse court: Harish Salve” and “Amazon-Future deal: Tail wagging dog” are some recent headlines in Reliance-controlled and Network 18-owned media property moneycontrol.com, which tell their own story.
And now, in the midst of the legal battle with Amazon, has come the news that CCI had in quick time approved the Rs24,713 crore Reliance-Future Retail deal. This overriding an objection filed by the American e-commerce giant to the CCI giving its approval. No concerns apparently of how this super concentration of business power in organised retail will affect the long-term interests of the Indian consumer. That said, I would welcome any step the CCI may take against the growing concentration of retail power by Amazon too.
Mukeshbhai, I am sure, my one-man decision to avoid all Reliance products and services, in protest at the growing monopolistic nature of your business practices, will not give you any sleepless nights.
But I do hope and pray
that you will, as a smart business tycoon, realise—perhaps in your quietest
moments—that the long-term interests of your businesses are tied not just to
how big and powerful they become but the price the people of this still
largely poor and developing country have to pay for your vaulting business
ambitions.
With Kind Regards
Binu S
Thomas
(The
author is a former Indochina Correspondent and Kuala Lumpur Bureau Chief of
Time Inc’s erstwhile Asiaweek magazine.)
Friday, November 27, 2020
AHMED PATEL (RIP) :-THE BLACK BOX OF Smt.SONIA GANDHI
The BLACK BOX of Sonia Gandhi, #AhmedPatel
Thursday, November 26, 2020
PAINFULLY TRUE!!! A MUST READ BY EVERYONE ABOUT JEWS NOW SETTLED IN ISRAEL.
Subject: PAINFULLY TRUE!!!
A NEW MILESTONE FOR SELF RELIANT INDIA (ATMANIRBHAR BHARAT)
A New Milestone For Atma Nirbhar Bharat.*
Wednesday, November 25, 2020
DoT mandates 0 prefix for all landline-to-mobile calls, effective 1 Jan livemnt . Updated: 24 Nov 2020, 06:03 PM IST
NEW DELHI: The department of telecommunications (DoT) has made it mandatory to prefix 0 for all calls made from fixed lines to mobiles, effective 1 January, accepting the sector regulator’s suggestion.
The Telecom Regulatory Authority of India’s (Trai) had in May recommended a '0' prefix for all such calls to create sufficient numbering space for telecom service providers.
"Suitable announcement may be fed in the fixed-line switches to apprise the fixed-line subscribers about the requirement of dialling the prefix 0 for all fixed to mobile calls. This announcement should be played whenever a subscriber dials a fixed to mobile call without prefixing 0," the DoT said in a notification.
The department has also asked telecom operators to furnish details of number series, both mobile and fixed-lines, allotted to them and the utilisation of the series. The details of the number series in each calendar year have to be submitted to the DoT by 15 January of the next year.
In the recommendations made in May, Trai had said a revised and new National Numbering Plan (NNP) should be issued at the earliest, and suggested ways to free up un-utilised capacities to create space for mobiles services.
Trai fines Jio, Airtel, BSNL in Paytm vs telcos phishing case livemnt . Updated: 24 Nov 2020, 10:05 PM IST Tarush Bhalla, Ishita Guha
Bengaluru/New Delhi: The telecom regulator has imposed a penalty on Bharti Airtel Ltd, Bharat Sanchar Nigam Ltd (BSNL), Reliance Jio Infocomm Ltd, among others, as they did not respond appropriately to a show-cause notice issued due to failure in block phishing activities on their networks.
The Telecom Regulatory Authority of India (Trai) has also fined Vodafone Idea Ltd, Mahanagar Telephone Nigam Ltd (MTNL) and Tata Teleservices in a case pertaining to One97 Communications Ltd, the parent of fintech company Paytm. In June, One97 had moved the Delhi High Court against telcos, Trai and the Centre for not blocking those who were defrauding its customers by phishing activities over mobile networks.
BSNL has been slapped with the highest fine of ₹30 crore, according to an affidavit filed by the Trai at the Delhi High Court. Mint has reviewed a copy of the affidavit. Almost 60-70% of the fraudulent messages and phishing attempts to customers have been on the BSNL network, according to industry officials.
“As per regulation 27 of Telecom Commercial Communications Customer Preference Regulations (TCCCPR), 2018, the Authority (Trai) may impose financial disincentives on any access provider if it fails to curb Unsolicited Commercial Communication (UCC) through its network," Trai said in the affidavit filed on Monday.
However, Trai cannot impose penalty on telecom operators without giving them sufficient time to block phishing activities on their networks. While BSNL was issued a show-cause notice twice to comply with the UCC guidelines, other telcos were asked on 1 October. Failure to curb UCC by both BSNL and other telcos attracted the penalty.
The Delhi High Court will hear the case on Wednesday.
In September, technology industry body, Internet and Mobile Association of India (IAMAI) along with other digital fintechs including PhonePe and MobiKwik filed a writ intervention appeal at the Delhi High Court to become a party in the One97 versus telcos case.
The intervention appeal, which was placed before the Delhi High Court in the last hearing on 23 September, said fintechs such as PhonePe and MobiKwik were also hurt by phishing activities taking place over various mobile networks.
“Trai is finally implementing the regulation on TCCCPR for violations which have continued in months of April to June. If this was implemented in the first case, the penalties wouldn’t have to be imposed. In the long term, this is good for Indian customers who are annoyed by unsolicited communication from telemarketers," said a senior lawyer, who spoke to Mint on condition of anonymity.
Through these penalties, Trai is giving "a big message" to telcos, the lawyer said.
One97 Communications did not answer to Mint’s queries until press time.
In its first petition in June, Paytm filed a defamation suit of ₹100 crore on telecom operators--Airtel, Reliance Jio, BSNL, MTNL, and Vodafone Idea--for not blocking phishing activities over their networks, leading to financial loss for the fintech company.
Understanding OpenRAN:-Source Manevir
OpenRAN IS AN ALTERNATIVE WAY OF BUILDING NETWORKS THAT PROMISES GREATER INTEROPERABILITY AND MORE COMPETITION
OpenRAN promises an alternative to the legacy in the radio access network (RAN), one of the costliest parts of the infrastructure. In a traditional RAN, hardware components and software code are tightly coupled, and interfaces do not support interoperability between different vendors. That means nearly all the equipment comes from only one, closed supplier. With the virtualization that OpenRAN brings, operators can run software-based network functions on standard (COTS) servers. Open interfaces allows a new freedom – the use of one supplier’s radios with another’s processors.
OpenRAN is an alternative way of building networks that promises greater interoperability and more competition. The real reason for the incumbents’ apathy is that OpenRAN would introduce competition and threaten their existing business.
THE BENEFITS OF OpenRAN vRAN
COST SAVINGS. You can build a virtualized network, containerize it and each of the elements can be completely broken down. This modern network can support either tens of subscribers to millions of subscribers. It just depends on how many instances and substantiations of the VNFs can you run on a single platform.
MULTIPLE OPERATORS & NETWORK SHARING. OpenRAN vRAN can run multiple operators using multiple VNFs sitting side-by-side on the same platform to have segregated networks. The other benefit is network sharing in the future through software.
ELIMINATE VENDOR LOCK-IN. OpenRAN breaks open the interface between the remote radio head and the DU. With current legacy vendors, it’s a walled garden and proprietary. Through O-RAN, a fully open interface on Split 7.2 has been defined including all the OEM.
3rd PARTY TESTING BENEFITS. Radios with 3GPP specs on one side and O-RAN specs on the other will work with different vendors’ baseband and because there is a defined specification with 3GPP interfaces, the elements can be tested independently. It takes pressure off operators to test in their own labs. Radios can be purchased from any vendor and tested by independently by a 3rd party and be assured that it works. Soon radios will be produced at low cost on the basis that any operator can buy them and not get locked into a specific system integrator.
RESOURCES
WHITE PAPER
OPEN RAN INTEGRATION: RUN WITH IT
Open RAN is real. Open RAN can be, and is being, deployed in commercial networks today. Download the white paper to learn more.
WEBINAR
OPENRAN – THE WAY FORWARD
Watch the webinar recording that directly addresses the ‘fake news’ of OpenRAN, the opening of the interfaces that fosters an innovative ecosystem and new economics for operators.
WHAT IS THE DIFFERENCE BETWEEN OpenRAN, O-RAN and vRAN?
OpenRAN
Disaggregated RAN functionality built using open interface specifications between elements. Can be implemented in vendor-neutral hardware and software-defined technology based on open interfaces and community-developed standards.
O-RAN
Refers to the O-RAN Alliance or designated specification. O-RAN Alliance is a specification group defining next generation RAN infrastructures, empowered by principles of intelligence and openness.
vRAN
An implementation of the RAN in a more open and flexible architecture which virtualizes network functions in software platforms based on general purpose processors.
For more info, visit Mavenir vRAN and check out our OpenRAN Partner Ecosystem