Telecom PSU in turf war

New Delhi, Aug. 28: BSNL has re-applied for mobile licences to operate in Delhi and Mumbai, a request which was turned down by the department of telecom earlier on grounds of cross-competition with MTNL. “This time we have justified our entry into Mumbai and Delhi — the territories of MTNL — as MTNL has entered the domestic long distance service where it was not present earlier,” BSNL chief A.K. Sinha said.

RBI report

New Delhi, Aug. 28: A Reserve Bank working group set up to formulate reasonable bank charges, is likely to submit its report in next 10 days, said Kaza Sudhakar member secretary of the working group.

Federal Bank

New Delhi, Aug. 28: The Supreme Court today affirmed the Bombay High Court verdict allowing the merger of Kerala-based Federal Bank with Ganesh Bank of Kurundwad in Maharashtra.

VSNL cable

Mumbai, Aug. 28: Videsh Sanchar Nigam today said it plans to build a submarine cable system linking Singapore, Hong Kong and Japan at an investment of $200 million.

BoB branch

Mumbai, Aug. 28: Bank of Baroda has received a licence from the Hong Kong Monetary Authority to convert its existing Hong Kong operations into full-fledged banking operations.