BSNL’s 4G service, RBI filled the government’s treasury, N Vaghul passed away, know what happened in the business world in the month of May

The Government of India has directed telecom companies to ban all international fake calls coming from Indian mobile numbers. The Department of Telecommunications said that some people are making international fake calls to Indian citizens by showing Indian mobile numbers, which leads to cyber crime and financial fraud. The Department of Telecommunications and Telecom Service Providers have developed a system to identify international fake calls and prevent them from reaching Indian telecom customers. Now instructions have been issued to telecom service providers to block such international fake calls. As per the instructions of the Department of Telecommunications, international fake calls coming with Indian landline numbers are already being blocked by telecom service providers.

The Reserve Bank of India has announced a payment of Rs 2.11 lakh crore to the Government of India for 2023-24. This will be the highest dividend payment the central bank has ever made. It is more than double the amount from a year ago. For 2022-23, the RBI had paid a dividend of Rs 87,416 crore to the government. The previous highest level was in 2018-19, when the Reserve Bank paid a dividend of Rs 1.76 lakh crore to the government. The decision to pay dividend was taken in the 608th meeting of the RBI held under the chairmanship of Governor Shaktikanta Das.

Veteran banker N Vaghul passed away on May 18 due to health issues. He was 88. Vaghul held several top positions in the banking industry. He is credited with transforming ICICI from a public finance institution to a private sector bank. He held the post of chairman and managing director of ICICI for 11 years from 1985.

BSNL has announced to launch 4G services based entirely on Indian technology from August this year. The maximum speed of the network has been kept at 40-45 megabits per second (Mbps). During this experimental phase, the 2,100 MHz band will also be used along with the premium spectrum band of 700 MHz.

Last month was very special for the Indian stock market. On 27 May, the Indian stock market index Sensex crossed the 76000 mark for the first time. At the same time, the NSE Nifty also reached its all-time peak for the first time. The 30-share BSE Sensex rose 599.29 points to reach an all-time peak of 76,009.68 points.

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