Telecos looking for relief, Maruti’s EV Plans, and ban on Mastercard: Three things Teji Mandi investors should know on July 22, 2021

Telecos Seeking Relief

The Supreme Court of India is set to pronounce its judgement on the plea of telecom companies today, July 22. These companies are claiming faulty calculations of adjusted gross revenue (AGR) dues and seeking recomputation.

Vodafone Idea in its plea has cited arithmetic errors that require correction. Bharti Airtel has also claimed duplication, unaccounted payments, and disallowed deductions in current figures. It is important to note that the top court had earlier rejected the plea of these companies, upholding current calculations.

Warming Up to the Idea of EV

Maruti Suzuki has so far avoided making tall claims about going big on electric vehicles. But, if emerging reports are of any indication, the Japanese partner Suzuki is looking to foray into EV space in the Indian market by 2025. This EV is expected to be priced below Rs 10 lakh, which will help it in reaching out to a wider range of audiences.

With this, it can be said that India's passenger vehicle industry is finally warming to the idea of electric vehicles. Tata Motors has also announced plans to launch 10 new EVs by the end of 2025. And M&M is also slated to launch its EV in 2022.

Mastercard Ban Comes Into Effect

RBI's ban on Mastercard from issuing new cards in India has become effective from today, July 22. RBI had imposed restrictions on Mastercard after it was found violating data storing norms. Mastercard was allegedly storing customers’ data on servers located outside the country. It was also not complying with the mandate of erasing data from overseas servers within 24 hours.

Data privacy is increasingly becoming vital, and every country is taking it seriously. Data theft is increasingly emerging as a major threat, exposing customers to hacking their accounts and compromising their privacy.

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