In India, for every 10 per cent of the population using basic services such as voice and SMS, the national GDP increases by 0.5 per cent; a similar expansion of Internet and other non-voice communication or data adds 1 per cent to GDP, according to government figures available with the country´s Department of Telecommunications (DoT).
Tag: Term
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Banking licence likely to provide IDFC access to low-cost bank deposits
IDFC Ltd has won a banking licence as per a recent RBI announcement. A banking licence would provide a window to IDFC to access low-cost bank deposits and reduce reliance on high-cost term loans and, thus, help expand margins. The company was set up in 1997 as a specialised lender for big-ticket infrastructure project with long gestation period.