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No more free calls in Jio to other users, Customers has to pay 6 paise while calling non-jio users

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The release also stated that post-paid customers will be billed at 6 paise per minute for off-net outgoing calls with an increase in free data entitlement to the extent mentioned above.

“This will ensure no increase in tariff for customers,” it stated.

The release also stated that the 6 paise per minute charge on outgoing off-net mobile calls shall continue only till the time TRAI abolishes IUC, in line with its present regulation.

Typically, a telecom operator pays for connecting calls of its subscribers to the company on whose network a call terminates. Currently, an operator is required to pay 6 paise per minute as a mobile call termination charge, called IUC.

The IUC was originally proposed to be made nil from January 1, 2020. But TRAI is now reviewing the timeline.

The release also stated that post-paid customers will be billed at 6 paise per minute for off-net outgoing calls with an increase in free data entitlement to the extent mentioned above.

“This will ensure no increase in tariff for customers,” it stated.

The release also stated that the 6 paise per minute charge on outgoing off-net mobile calls shall continue only till the time TRAI abolishes IUC, in line with its present regulation.

Typically, a telecom operator pays for connecting calls of its subscribers to the company on whose network a call terminates. Currently, an operator is required to pay 6 paise per minute as a mobile call termination charge, called IUC.

The IUC was originally proposed to be made nil from January 1, 2020. But TRAI is now reviewing the timeline.

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Rupee trades lower at 71.31 per dollar

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The Indian rupee is trading 8 paise lower at 71.31 per dollar against previous close 71.23.

The domestic equity market is trading higher with Nifty above 11,400 marks.

The local currency opened flat at 71.24 per dollar.

The rupee declined by 21 paise to close at a three-week low of 71.23 against the US currency on Monday as investors rushed to safe-haven bets on fading hopes of an initial trade deal between the US and China, said PTI.

According to ICICIdirect, the dollar-rupee October contract on the NSE was at 71.29 in the previous session. Open interest increased by 1.02% in the previous session.

We expect the USD-INR to find support at lower levels. Utilize downsides in the pair to initiate long positions, it added.

Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer’s energy demand growth.

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Flipkart to enter food retail with Rs 2,500cr

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Flipkart, the Walmart-owned Indian e-commerce company, has registered a new company called Flipkart Farmermart Pvt in India to deepen its penetration in the food retail space, take on Amazon, and run a farm-to-fork operation, sources told Moneycontrol.

Through Flipkart Farmermart, the e-commerce company will operate a full-fledged food retail business, including its own private label, a grocery supply chain and even open stores.

“There is a lot more than Flipkart can do in food. The board has consented to invest Rs 2,500 crore to expand its operations in the grocery business,” a source said.

Flipkart is late to the party. Amazon secured a food retail license in July 2017 and has since been investing to build its grocery business. Flipkart will now apply for a licence and then will have to get a go-head from the Department of Industrial Policy and Promotion (DIPP) to invest in food retail.

“It is critical for Flipkart to get this piece right. Grocery is the stickiest business that any e-commerce company can build. There is a huge repeat factor, which is not there with electronics or fashion or furniture,” a second source explained.

Flipkart hopes to bank on Walmart’s expertise in building its food supply chain. The American retailer already runs a cash-and-carry (or wholesale) business in India and has tie-ups with farmers for grocery and food produce. “That will be a big help for Flipkart, it being a subsidiary company. It will also allow Walmart to bring in its understanding and wherewithal of the grocery business to consumer business,” the first source said.

It is too early to say if Flipkart will open up stores or stick to an online-only selling model, but “there are possibilities that it might open up stores in major cities in the coming years. That gives a lot of mindshare to a company, especially in food and grocery,” the source added.

The online grocery market in India is just opening up. According to research firm Research and Markets, only 0.15 percent (or two million out of 1.35 billion) Indians make purchases through online channels. However, the market is anticipated to expand at a compound annual growth rate (CAGR) of 68.66 percent between 2018 and 2023 to reach over Rs 1 lakh crore.

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Passenger vehicle sales slow down by 24% and commercial by 62%

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Passenger vehicle sales slumped 23.7% in September – the eleventh straight month of declines – amid one of the worst slowdowns seen in India’s auto industry, data released by an industry body showed on Friday.

Passenger vehicle sales dropped to 2,23,317 units in September, the Society of Indian Automobile Manufacturers (SIAM) data showed, while passenger car sales dived 33.4 percent to 1,31,281 units.

The data comes as the domestic automobile industry faces a crippling slowdown in demand that has led to production cuts and thousands of job losses.

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