FM’s Statement on ULIPs Issue

              Following is the Finance Minister, Shri Pranab Mukherjee’s statement regarding regulation of Unit Linked Insurance Products (ULIPs):

          “The Chairman, SEBI and Chairman, IRDA held discussions on the jurisdiction over Unit Linked Insurance Products (ULIPs). To resolve any ambiguity and to ensure smooth functioning in the markets, the regulators have agreed to jointly seek a binding legal mandate from an appropriate court. Meanwhile, status-quo ante is being restored.”

DoT Reduces call charges of Satellite phones for Para Military Forces in Border Areas

             The Department of Telecommunications, Ministry of Communications & Information Technology has decided to reduce the call charges from Rs. 5 per minute to Rs. 1 per minute for Satellite Phones for all Para Military Forces serving along the border outposts throughout the country. This decision has been taken in follow up of the visit of Shri Sachin Pilot, Union Minister of State for Communications & Information Technology to the North Eastern border areas where it was brought to his notice that jawans were required to pay Rs. 5 per minute for using the Satellite Phones to make calls to their families.

             In this context, Shri Pilot has said, “To combat terror and to maintain the security and integrity of the nation, our paramilitary forces despite being posted in the harshest of conditions, have provided unmatched services with dedication and valour. They have for the sake of the country not hesitated in even making the ultimate sacrifice of laying down their lives in order to keep our borders secure. Therefore, to make it easier and cheaper for these brave jawans to keep in touch with their loved ones, we have decided to reduce the call rates for satellite phones used in the border areas, from Rs. 5 to Rs 1. We felt this was the least we could do to boost their morale and mark our respect and appreciation towards our brave jawans”.

             The decision came in appreciation of the fact that the Central Paramilitary Forces like ITBP, BSF and SSB are charged with protecting our international borders with their jawans posted at border outposts in most difficult and inhospitable terrain comprising high mountain ranges, dense forests and vast stretches of desert. To ensure that these brave jawans’ enjoy access to telecom services, BSNL has been providing them with Satellite Phones.

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