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Goldman Sachs report suggests that longer-term repo operations beyond 14-days, especially when government cash balances are high, could help call money rates converge closer to the benchmark policy rate as and when the Reserve Bank starts easing its policy rates to address the recent tightness in India's inter-bank liquidity.

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The government has announced a reduction in charges of mobile call rates beginning March next year.

A source said there are ongoing conversations for the acquisition of 9mobile’s operating spectrum in a deal that will ensure MTN own a stake in its competitor