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The debt-ridden telecom operator, Reliance Communications, has plans to shut down its 2G mobile business by the end of November, but will continue to offer 3G and 4G services, industry sources told PTI.
The company has also asked a number of employees to quit as part of its winding up of the operations.
An e-mail query sent to RCom elicited no immediate reply.
The move comes after the company failed to close the merger deal with telecom operator Aircel early this month.
Kotak Bank in focus: Private sector lender Kotak Mahindra Bank's July-September quarter grew by 22.2 percent year-on-year to Rs 994.31 crore, backed by operating income, other income and NII.
Profit for the quarter ended September 2016 stood at Rs 813.29 crore.
Net interest income, the difference between interest earned and interest expended, increased 15.9 percent to Rs 2,312.66 crore compared with year-ago quarter.
Asset quality improved nicely in the quarter ended September 2017 as gross non-performing assets (NPA) fell 11 basis points sequentially to 2.47 percent and net NPA slipped 42 basis points to 1.26 percent.
Provisions for bad loans for the quarter stood at Rs 216.5 crore, higher by 6.3 percent quarter-on-quarter and 9.5 percent year-on-year.
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