1. Weekend NEWS
Presented by-
Maninder Vadhrah

2. Vodafone seeks foreign banks backing
 Mobile service provider Vodafone is in talks foreign
banks to provide counter guarantee to nationalized
bank in India for sum of 8500 crore.
 This fellows an order from supreme court last week
that Vodafone will have to furnish bank guarantee of a
nationalized bank & set aside 2500 crore in cash to the
court.

3.  Most Indian banks have huge exposure to the
telecom sector & are not keen to increase their
lending to this industry. However if foreign bank
provide a counter guarantees, the credit exposure of
Indian banks will be to foreign banks and not to
Vodafone.
 Vodafone has been asked to deposit this money &
furnish guarantee after it lost a legal battle over a tax
claim.

4. DoCoMo launches 3G in Maharashtra
 The Tata DoCoMo, the GSM arm of Tata Teleservices
formally launches its 3G services in Maharashtra.
 The 3G network, set up with assistance of NTT
DoCoMo, support high speed internet access with
the speed up to 21.1 mbps & also support high
definition voice.

5. The company has also announced attractive &
innovative plans like small screen plan & large
screen plans to upgrade to 3G life.
The plans options are ranging from Rs 750 to
Rs 200 offering 750-5000 free call minutes.

6. Free instant mobile fund transfer unveiled
The national payment corporation of India
(NPCI) has launch instant fund transfer service
through mobile phones, which allows
customer of bank to sent money to customer
of another bank.
The service termed as Inter Mobile Payment
Service (IMPS) will support inter bank
transaction.

7. Six Banks- State Bank of India, Axis Bank, ICICI
Bank, Union Bank of India &Yes Bank- have
already signed with NPCI for the service while
HDFC Bank will join then soon.

8. SBI likely to price its Eurobond issue this week
The state bank of India is likely to announce
the pricing of its 500m euro bond.
The bank has appointed six European banks to
raise the banks funds. The banks include:
Deutshe bank, Stan-chart, HSBC, BNP Paribas,
Barlcays & credit Agricole CIB.

9. The TATA Group has also been large borrowers
in euro to fund their aquisitions like Jagure
land recover & Corus.

10. Thank You…………….