He said that rather than being fierce competitors, time has come for all the telcos -- Jio and VIL included -- to close ranks and work together as "team India" but vehemently ruled out the possibility of any tariff cartelisation among the players.

The festive season is around the corner and we aim to look at what this means in terms of demand for electrical appliances. It is suggested that demand is better than expected and that dealers are optimistic about the Dussehra to Diwali period. To get a ground check, CNBC-TV18 spoke to Nilesh Gupta, managing partner at Vijay Sales, and Kamal Nandi, executive VP, sales and marketing, Godrej Appliances.

In a statement on Friday, Moody's said the change in the AGR definition to exclude non-telecom revenue will ultimately boost sector-wide EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) as it will reduce licence fees paid by telcos.

The lender said home loan will become more affordable to customers in view of full waiver of service charges and a low interest rate starting from 6.60 percent.