News Roundup: IRCTC Blocks 4.6 Lakh User IDs [e-ticket fraud], Facebook To Expand in India

eYantra picks up stake in IGC

Corporate gifting solutions company eYantra has picked up a stake in Rotterdam-based IGC Global Promotions NV, a global purchasing organization.

eYantra has 14 physical stores and services over 1000 corpororate clients in India. eYantra raised $8.75 million in 2010 and achieved turnover of USD 11.5 million for FY 2009-10.

IGC has been active since 1956 as a buying association and is the central contact for MNCs to buy promotional products and services, promotional items and business gifts from one global contract partner.

BSNL seeks Rs 4,000 cr subsidy to meet operational costs

Out of the 100 per cent revenues of the BSNL, more than 60 per cent goes in paying salaries, and the rest 40 per cent the company has to meet statutory expenditures like spectrum fee, licence fee, services taxes also have to pay day-to-day operation expenditure or OPEX expenditure.

“We have asked Rs 4,000 crore subsidy for FY’11-12 from the DoT to run our commercially unviable services. BSNL is providing large chunk of rural services under social obligation which are not commercially viable for us. We are asking subsidies for supporting our non-commercially viable services,”[source]

IRCTC Blocks 4.6 lakh user IDs for e-ticket fraud

In a bid to prevent touts from cornering reserved tickets, IRCTC has enhanced its cyber surveillance and has been disabling IDs, which are found to be violating laws.

Authorized agents have been provided separate user IDs by the IRCTC for online booking on a commission basis. In March, the IRCTC barred its authorized agents from booking tatkal tickets online between 8 am and 9 am after many citizens complained that they were finding it difficult to book tickets on the railway website. The agents, however, found their way around the system by creating multiple user IDs so that they could book tickets during the restricted slot.[source]

Facebook to expand India facility

The company, which started its development work at 22,000 sq ft and 100 employees, has recently leased one lakh sq ft of additional space in the adjoining building at Raheja Mindspace at Madhapur (AP). [source]

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