RBI Governor- D Subbarao -EMOTIONAL OBSESSION...ON....

To say RBI is obsessed with inflation inaccurate: D Subbarao
By PTI | 17 Aug, 2013, 04.15PM IST
NEW DELHI: Days before he steps down as Governor of RBI, a candid D Subbarao today characterised as "inaccurate and unfair" the contention that the central bank was "obsessed with inflation, oblivious to growth concerns".Terming as oversimplification that governments are for growth and central banks are for price stability, he said, it was another oversimplification to assert that there is a tension between growth and inflation and that one has to play a trade off between the two in policy making. "To contend that the Reserve Bank is obsessed with inflation, oblivious to growth concerns, I think, is both inaccurate and unfair," he said at a function at the Prime Minister's residence to release the fourth volume of RBI history. Subbarao's remarks come against the backdrop of Finance Minister P Chidambaram's assertions in recent weeks that RBI should not focus solely on on containing inflation but also look at the larger mandate of growth and job creation. The Governor, who will demit office on September 4, spoke on growth-inflation balance and said the first and possibly the most important debate was about balancing between growth and inflation in the policy context.http://economictimes.indiatimes.com/news/economy/policy/to-say-rbi-is-obsessed-with-inflation-inaccurate-d-subbarao/articleshow/21879616.cms

Rs 28,000 crore..business opportunities beckon in power sector....

Huge business opportunities beckon in power sector in Bihar

By PTI | 28 Jul, 2013, 08.04PM ISTPATNA: With an estimated Rs 28,000 crore being proposed to be invested in power sector in Bihar, a senior official today urged investors to lap up huge business opportunities in transmission and distribution segments in particular. 

"There are booming opportunities in power sector in Bihar especially in transmission and distribution segments with an estimated Rs 28,000 crore likely to be spent over the next few years under various plan heads," the Energy Secretary Sandeep Poundrik told reporters here.  "The huge investment in power sector will be made under various schemes like the Backward Regions Grant Fund (BRGF), Accelerated Power Development and Reforms Programme', Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY), besides funding by other multilateral organisations and the state's own annual plans to take the total proposed investment amount to Rs 28,000 crores," he said. 
With the state government committed to provide electricity to each village of Bihar by 2015, there was enormous business opportunities beckoning on the private investors to lap up projects in distribution and transmission segments, he said. 
Poundrik, who is also the Chief Managing Director (CMD) of the Bihar Power Holding Company Ltd, sought to woo the investors in power sector by assuring them that the law and order situation has improved and the road infrastructure laid throughout Bihar makes it a perfect environment for the investors to do business in the power sector in the state. 
He said that the Bihar State Power Holding Company Ltd has recently held conferences on the topic - 'Destination Bihar' in New Delhi, Hyderabad and Bombay to woo the investors.

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/huge-business-opportunities-beckon-in-power-sector-in-bihar/articleshow/21429963.cms

Internet speed 100 times...Graphene makes the difference...

Press Trust of India  |  London  July 14, 2013 Last Updated at 17:43 IST 

Graphene may boost internet speed 100 times

Researchers from the Universities of Bath and Exeter have demonstrated for the first time incredibly short optical response rates using graphene

Using 'miracle material' graphene in telecommunications could dramatically make the internet a hundred times faster, a new study has found. 

Researchers from the Universities of Bath and Exeter have demonstrated for the first time incredibly short optical response rates using graphene, which could pave the way for a revolution in telecommunications. 

Every day large amounts of information is transmitted and processed through optoelectronic devices such as optical fibres, photodetectors and lasers. Signals are sent by photons at infrared wavelengths and processed using optical switches, which convert signals into a series of light pulses. Ordinarily optical switches respond at rate of a few picoseconds - around a trillionth of a second. Through this study physicists have observed the response rate of an optical switch using 'few layer graphene' to be around one hundred femtoseconds - nearly a hundred times quicker than current materials. 

Graphene is just one atom thick, but remarkably strong. Scientists have suggested that it would take an elephant, balanced on a pencil to break through a single sheet. Already dubbed a miracle material due to its strength, lightness, flexibility, conductivity and low cost, it could now enter the market to dramatically improve telecommunications, researchers said.

"We've seen an ultrafast optical response rate, using 'few-layer graphene', which has exciting applications for the development of high speed optoelectronic components based on graphene," lead researcher Dr Enrico Da Como said. "This fast response is in the infrared part of the electromagnetic spectrum, where many applications in telecommunications, security and also medicine are currently developing and affecting our society," said Da Como. "The more we find out about graphene the more remarkable its properties seem to be. This research shows that it also has unique optical properties which could find important new applications," Co-Director of the Centre for Graphene Science at Bath, Professor Simon Bending added. 

In the long term this research could also lead to the development of quantum cascade lasers based on graphene. Quantum cascade lasers are semiconductor lasers used in pollution monitoring, security and spectroscopy. Few-layer graphene could emerge as a unique platform for this interesting application.

 The study was published in Physical Review Letters. 

http://www.business-standard.com/article/technology/graphene-may-boost-internet-speed-100-times-113071400495_1.html

CORE EDUCATION- FROM Rs 299 TO 67

MUMBAI, FEB 27:  

Core Education and Technologies has moved SEBI seeking a probe into the high volumes of trading in its shares that led to a steep fall of 81 per cent in share prices.The stock fell from a high of Rs 300 to a low of Rs 56.55, in just three days.“We would like to request your office to assist the company in conducting your investigation in such unusual high volume and price movement…,” the company said in its letter to the market regulator.The technology-enabled education solutions provider has also sought the market regulator’s assistance in providing appropriate price circuits for its scrip. This is to prevent “further damage and repose shareholders and all stakeholders’ confidence,” it added.Though the stock is not traded under F&O list directly, since it is a part of CNX-IT, which has derivatives contracts, no circuit filter is applicable to the stock.

TUMBLES CONTINUOUSLY

Last Monday, the company’s shares fell by more than 62 per cent on market talks that lenders were diluting shares pledged by the promoters. The prices recovered by noon on Tuesday, after it clarified that pledged shares were not sold in the market. On Wednesday, it fell further by 46 per cent to close at Rs 60.30.“Further, we would like to clarify on the rumours of promoters pledged shares being sold, that we have confirmed with all the financial institutions that none of them have sold the pledged shares and that they continue to hold the same,” it said. However, today IFCI sold 36.95 lakh shares.On Monday, Cresta Fund informed the exchanges that it sold 28.16 lakh shares or 2.4598 per cent stake in the company on February 25. After the sale, their holding reduced to 2.3572 per cent.On Tuesday, SEBI Chairman in Hyderabad, U.K. Sinha, said: “Whenever we worry either through our own surveillance mechanism or through other medium that somebody has tried to manipulate the market, we take action.” rajesh.kurup@thehindu.co.in

http://www.thehindubusinessline.com/markets/core-education-moves-sebi-for-probe-as-stock-crashes-81-in-3-days/article4459326.ece

Policy inconsistency...TELECOM---ISSUES...

Business Standard  |  New Delhi  February 21, 2013 Last Updated at 21:32 IST

The same mistake, again

Policy inconsistency and suspicions of favouritism in telecom

Inconsistencies in policy have turned the Indian telecom industry into a case study of the damage caused by poor regulation. The sector has suffered controversy on account of 2G licences, differential treatment of CDMA and GSM technologies, intra-circle 3G roaming, changing joint venture norms for foreign direct investors, and so on. Now, changes in the Broadband Wireless Access (BWA) policy may create fresh issues. The Telecom Commission recently cleared the offering of voice services via Voice over Internet Protocol (VoIP) by BWA spectrum-holders, provided they buy a unified licence. The department of telecommunications is also mulling the modalities of BWA providers switching from the 2,300 megahertz (MHz) band to the 700 MHz band. If it happens, the price paid for 2,300 MHz in the 2010 auctions will be adjusted against the price discovered for 700 MHz in auctions scheduled for 2014-15.
Both changes have disturbing implications. Some 32 months after BWA auctions, only Airtel has rolled out its BWA service. Others like Reliance Jio Infotel, Tikona Digital, Aircel and Augere, who have not met BWA rollout obligations, may decide to wait further for clarifications. Delays would further retard the development of a high-speed data network in India, leaving the country two generations behind the curve. The strong positive externalities of high-speed networks imply that such delays will also have large macro-economic opportunity costs. Of course, allowing voice on internet is in itself, a good thing. The ban was conceived to protect PSU monopolies and it should not have been imposed, or dispensed with long ago. However, non-transparent, retrospective changes in terms leads to suspicions of favouritism, particularly when those BWA spectrum-holders who fail to roll out the service are seen to be benefitting from accessing a more efficient band, instead of being slapped with a penalty. Reliance Jio Infotel is the only player with BWA spectrum across all 22 circles.
At the 2010 BWA auction of 2,300 MHz spectrum for 4G/LTE (Long-Term Evolution) data services, new bidders had to opt for either an internet service provider (ISP) licence for Rs 30 lakh, or a unified access licence costing much more — Rs 1,658 crore. VoIP services were banned, even on unified licences. All the new entrants opted for ISP licences, while unified licence-holders bid selectively. However, India is a voice-driven market. Pure internet data (excluding text messages and ringtones) contribute only six per cent to mobile revenues, while voice contributes 85 per cent. BWA spectrum sold at Rs 642 crore per MHz. In contrast, 3G spectrum (voice+data) cost Rs 1,675 crore per MHz and the reserve price for 2G (voice+data) spectrum in November 2012 auctions was Rs 2,800 crore per MHz. Crucially, if VoIP was known to be on the cards, BWA bidding would have gone much higher. There is another inconsistency. The New Telecom Policy, 2012 sets the unified licence fee at Rs 30 crore, so charging Rs 1,658 crore under the old policy terms may now be debatable.
In technical terms, 700 MHz is more efficient than 2,300 MHz, meaning that less capital expenditure is required for rollout at 700 MHz. Hence, 700 MHz is standard for BWA services across Asia-Pacific and Latin America. However, capex savings are offset if 700 MHz spectrum is much more expensive than 2,300 MHz spectrum. The regulator recommends a 700 MHz reserve price at over five times the 2,300 GHz price, making it prohibitively expensive. On the other hand, if 700 MHz spectrum was offered cheap, the government would lose. Ideally, telecom policy should be technology-neutral with unified licences that leave operators free to decide what services they offer. Flip-flops and repeated post-facto policy changes have already vitiated what used to be the world’s fastest-growing market. The proposed changes in BWA terms could be yet another adverse development.

http://www.business-standard.com/article/opinion/the-same-mistake-again-113022100832_1.html