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Jio’s no more free, Airtel & Vodafone-Idea to make a call

When TRAI decided to scrap IUC, Airtel, Vodafone and Idea had resisted the change, while Jio was in favour.

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Jio Bharti Voda

New Delhi, Oct 9 : With Reliance Jio announcing 6 paise per minute charge for voice calls to rival networks, Vodafone Idea on Wednesday termed the announcement “an action of undue haste” and Airtel termed the Mukesh Ambani-owned company’s move a forced tactics to reduce interconnection charges.

“The announcement by one of the telecom service providers today to charge for calls made to other service providers to cover the termination charge of IUC is not only an action of undue haste, but it also doesn’t bring out the fact that interconnect is a settlement between operators and not a consumer pricing matter.

“In our view, its TRAI’s call for a consultation on IUC keeping in mind the continuing asymmetry in traffic and in line with its earlier stated position on the matter”, Vodafone Idea said in a statement.

Reliance Jio’s announcement follows its recent unilateral action of reducing ringing time.

Stating that Vodafone Idea operates on the singular principle of pro-consumer and pro-choice, it said, “Our offerings are transparent, affordable and cater to a cross section of society and consumers with varying consumption needs via multiple technologies 2G, 3G and 4G. Even today over 50 per cent Indian consumers use 2G and feature phones and we service them in remote parts of the country even when it’s unprofitable for us to do so.”

Airtel said: “One of our competitors has imposed a rate of 6 paise for all off-net calls made to other operators to cover the termination charge of IUC. They have gone on to suggest that TRAI has re-opened this issue.”

On account of taking a hit of Rs 13,500 crore due to network connection charges, or interconnet usage charges (IUC), Reliance Jio on Wednesday said it would charge customers 6 paise per minute for voice calls made to rival networks till IUC charges were eliminated.

It’s the first time that Jio users will pay for voice calls, free since September 2016.

Telecom Regulatory Authority of India Chairman R.S. Sharma didn’t respond to calls for response to Jio’s contention that it was forced to take the step due to regulatory uncertainty created by TRAI. The TRAI floated a consultation paper to review whether the IUC regime timeline needs to be extended.

The Sunil Mittal-owned company said: “On September 19, 2017, when TRAI reduced the IUC from 14 paise to 6 paise and proposed a move towards ‘bill and keep’ (zero IUC) with effect from January 1, 2020, it had specifically mentioned that the TRAI shall keep a close watch on developments in the sector, particularly with respect to the adoption of new technologies and their impact on termination cost. The TRAI, if deems it necessary may revisit the scheme of termination charge applicable on wireless-to-wireless calls after one year from the implementation of the regulation”.

Last month, TRAI weighed the option of deferring date for scrapping IUC. It floated a fresh consultation paper to see if there is a need to revise the applicable date for scrapping IUC, given the continuing imbalance in inter-operator traffic. The paper also seeks to discuss what parameters should be looked at to decide on an alternate date, if any.

When TRAI decided to scrap IUC, Airtel, Vodafone and Idea had resisted the change, while Jio was in favour.

The possible change of timeline for introducing zero IUC, Jio said had led to the uncertainty of IUC phase-out deadline and it can’t continue to bear Rs 13,500 crore losses on account of IUC by offering free voice calls to rivals’ network from its network.

“The consultation paper has created regulatory uncertainty and therefore Jio has been compelled, most reluctantly and unavoidably, to recover this regulatory charge of 6 paise per minute for all off-net mobile voice calls so long as IUC charges exist,” the Jio statement said.

Business

Brent hits highest since March, spurred by coronavirus vaccine hopes

This follows positive trial results from Pfizer/BioNTech and Moderna.

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Brent Crude Oil

SINGAPORE: Brent crude prices hit their highest levels since March as news of a third promising coronavirus vaccine candidate spurred hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.

Brent crude futures rose 43 cents, or 0.9%, to $46.49 a barrel by 0522 GMT, while U.S. West Texas Intermediate crude added 45 cents, or 1.1%, to $43.51 a barrel.

Brent rose to a session high of $46.56 earlier on Tuesday, the highest level traded since early March before Saudi Arabia initiated a price war with Russia, which sent oil prices crashing. Both oil benchmarks settled up about 2% on Monday after gaining about 5% last week.

“Progress on developing and distributing a vaccine de-risks the path back to normal for oil markets,” said Stephen Innes, chief global markets strategist at financial services firm Axi.

“If mobility data is a measure of oil price sentiment, in the not too distant future, the vaccine will get people back on airplanes and cruise ships.”

AstraZeneca said on Monday its COVID-19 vaccine was 70% effective in pivotal trials and could be up to 90% effective, giving the world’s fight against the global pandemic a third new weapon that can be cheaper to make, easier to distribute and faster to scale-up than rivals.

This follows positive trial results from Pfizer/BioNTech and Moderna.

Also helping to ease uncertainty in financial markets, President Donald Trump on Monday allowed officials to proceed with a transition to Joe Biden’s incoming administration, giving his rival access to briefings and funding even as he vowed to persist with efforts to fight the election results.

U.S. crude oil inventories likely edged lower last week, while distillate stockpiles were seen decreasing for a 10th straight week, a preliminary Reuters poll showed on Monday, ahead of reports from the American Petroleum Institute and the Energy Information Administration (EIA).

Traders also focused on a week of technical meetings by OPEC and its allies to prepare the ground for next week’s ministerial gathering, which is set to discuss extending oil output curbs into next year due to weak demand amid a second wave of COVID-19.

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Amazon Quiz Answers Today, November 24, 2020: Answer and Win Xbox Series X

The Amazon Quiz contest is live at 8:00 AM and it ends at 12:00 PM.

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Amazon quiz Answers Today, November 24, 2020: The Amazon Quiz for November 24, 2020, is live and today you have the chance to Win Xbox Series X. The trivia quiz gives a chance to users across the country to win exciting gifts every day by answering a set of simple questions.

After giving the right answers to the questions users can win mobile phones, other gadgets, and Amazon Pay Balance. E-commerce giant Amazon never disappoints its users and today’s gift is special for all the online shopping lovers.

Today’s Amazon Quiz Information

Today’s Amazon Quiz Prize:

Win Xbox Series X
Amazon Quiz Date: November 24, 2020:
Amazon Quiz Time: 8 am–12 pm
Winners List Declaration Date: To be announced

Answers for today’s Amazon quiz contest- November 24, 2020

Question 1. Who has been named as the new Ambassador for World Wide Fund (WWF) India’s Environment Education Programme?

Answer 1: Viswanathan Anand

Question 2. As per Global Finance magazine, KfW Bank is considered to be the “World’s Safest Bank”. In which country is KfW Bank headquartered?

Answer 2: Germany

Question 3. Starlink is a satellite constellation being constructed by which company to beam satellite Internet access across the world?

Answer 3: SpaceX

Question 4. These ladies are on a tour of which country?

Answer 4: Egypt

Question 5. Considered “the most influential environmental photograph ever taken”, on which mission was this photograph taken?

Answer 5: Apollo 8

How to Play Amazon Quiz Contest Daily?

1. Download the Amazon India App from Google Play Stores or Android App
2. Sign up or log in to your Amazon account
3. Once login you can check the homepage banner of the App click on Amazon Quiz for today.
4. Start playing the Amazon quiz contest.

Where to find the latest answers for Amazon Quiz?

You can find all the right Answers for Amazon Quiz here. With Amazon Quiz you can win various exciting prizes. Choose the right answers for the Amazon daily quiz and you can be the lucky winner. The Amazon Quiz contest is live at 8:00 AM and it ends at 12:00 PM.

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Gold Rates and Silver rates, November 24: Yellow metal price struggles today by 0.23%, check here

Gold prices in India on Tuesday, November 24 have gone down following the global rates. On MCX, the gold rates have decreased to ₹49,504. Today, silver price in India has gone up to ₹60,549 rupees per kilogram.

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Gold Wealth Price

Gold Rates and Silver rates, November 24: Gold prices in India on Tuesday, November 24 have gone down following the global rates. On MCX, the gold rates have decreased to ₹49,504. Today, silver price in India has gone up to ₹60,549 rupees per kilogram. When it comes to the gold metal, the prices vary based on the city or state due to excise duty, state taxes, and making charges.

  • CITY 24 KARAT 22 KARAT
  • CHENNAI ₹52,034 ₹47,674
  • MUMBAI ₹50,950 ₹49,950
  • BANGALORE ₹51,441 ₹47,161
  • DELHI ₹53,637 ₹49,197
  • KERALA ₹51,468 ₹47,148
  • HYDERABAD ₹51,454 ₹47,144
  • KOLKATA ₹52,537 ₹50,127
  • PUNE ₹50,805 ₹48,355

GOLD PRICE IN INDIA (*MCX) ₹49,504 ₹45,379

Know why Gold and Silver rate rise and decline

Gold tends to increase when people prefer investing in gold due to inflation and concerned about the risks in the financial system. On the other hand, at times gold rates also decrease due to the fact that the fall in international markets, an increase in dollar value, and other tensions between the countries. Off late the gold prices have come down due to the US-China dispute.

How Gold rate is calculated?

As there is no specific measure for the gold and the prices differ from jeweller to jeweller. Final price of the jewellery = Price of gold X (Weight in grams) + Making charges + GST at 3% on (Price of jewellery + making charges)

How many times gold rates change in a day?

As the yellow metal gold is traded at Multi Commodity Exchange whGGolere the gold rates change at every moment in the business times. The price alter is mainly due to various factors such as political and economical issues happening in the world.

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