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ONGC union protests Centre's proposal to give away Mumbai High fields

The petroleum ministry's proposal to give away ONGC's biggest oil and gas fields to foreign companies has met with strong resistance from the officers union of the company, which has said that the government should empower and give the company a level-playing field rather than giving away its prime assets to the private sector on a platter. The Association of Scientific & Technical Offices of ONGC petitioned Oil Minister Hardeep Singh Puri against a proposal put by Amar Nath, additional secretary (exploration) in the Ministry of Petroleum and Natural Gas, for giving away 60 per cent stake and operatorship of Mumbai High and Bassein & Satellite (B&S) offshore assets to international partners for raising output.

Non-core asset monetisation: Govt invites bids to sell 6 BSNL, MTNL assets

Kicking off the non-core asset sale exercise, the Department of Investment and Public Asset Management (DIPAM) has invited bids to sell six assets of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) through its new asset monetisation portal. The government is planning to sell land parcels worth over Rs 600 crore in the first phase through the new online bidding platform, Business Standard had reported earlier. This will be the first sale of assets through the new ebidding platform developed by state-run MSTC.

Airtel hikes tariffs by 20%,says decision is for 'financial health'

Bharti Airtel on Monday increased its tariffs for telecom subscribers for a range of services effective November 26, saying the decision was for a "financially healthy business model". The company hiked prepaid tariff by 20-25 per cent and data top-up plans by 20-21 per cent.

Bounce Infinity to be launched on December 2: Check details here

Electric scooter rental startup Bounce has said that its maiden consumer escooter, Infinity, is set to be rolled out early next month and the deliveries are expected to commence from early 2022. The Bangalore-based firm had acquired 22Motors, including its manufacturing unit at Bhiwadi, Rajasthan, in a deal valued at USD 7 million. The company also said that it is looking to set up another plant, in South India, considering the potential of the domestic market.

Paytm's GMV up 131% to $11.2 billion in Oct as festive-time spends rise

One97 Communications, the parent company of fintech firm Paytm, reported that its gross merchandise value (GMV) for the month of October touched Rs 832 billion (around $11.2 billion), a growth of 131 per cent on a year-on-year (y-o-y) basis. The company was listed on the Indian bourses last week. The company, in a disclosure to the exchanges, said that the growth was driven by the festive season and an increase in number of merchants and consumers, adoption of new products, transactions for both online and instore merchants, and in deployed devices.

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