GK & Current Affairs!
The country’s fast-growing e-commerce industry Paytm is all set to become a member of the self-regulatory voluntary organization Advertising Standards Council of India (ASCI) from April, 2017. The move is significant because advertising violations by e-commerce companies, which are big spenders on television, print and digital media, have been on the rise in recent years.
The Alibaba-backed Paytm has also set up a new company named Paytm Financial Services, which will sell financial products like insurance and mutual funds to its planned payments bank account holders.
The government holds 100 per cent stake in GIC Re, which provides reinsurance support to 54 general and life insurance companies, both public and private, in the Indian market.
The authorised and paid-up share capital of the reinsurance company was Rs. 1,000 crore and Rs. 430 crore, respectively, as on March 31, 2016. “GIC Re will be going for an initial public offer (IPO) of equity shares with face value of Rs. 5 each to the public in the domestic market".
Telecom major Bharti Airtel on Thursday said it will acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across 5 circles, for about Rs 1,600 crore.
Tikona currently has 20 MHz spectrum in the 2,300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles.
With this acquisition, Airtel will be second company, after Reliance Jio, in the country to have pan-India presence in 2300 Mhz band -- which has second largest ecosystem of 4G devices.