Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
The telecom department has set up a committee to oversee timely implementation of the much-delayed national broadband network across the country, which will be the backbone of the government’s ambitious ‘Digital India’ programme.
The committee comprises Anil Bhargava, member-technology in the telecom department, Aruna Sundararajan, administrator, USO fund, and V Umashankar, joint secretary, telecom department, according to an internal note, reviewed by ET. It will also have representation from the industry, according to the note.
The move comes within a month of the telecom minister inaugurating the National Optic Fibre Network (NOFN) project in the Idukki district of Kerela. The NOFN project, which has been delayed by over three years, is the backbone of the Rs 1.13-lakh crore ‘Digital India’ project, which hopes to deliver key social and economic infrastructure such as education and healthcare to the citizens digitally. Original post at ET Telecom