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NHAI to be flag-bearer of Centre’s asset monetisation plan

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The National Highways Authority of India (NHAI) will be the flag-bearer of the government’s asset monetisation programme with a plan to raise about Rs 30-40,000 crore through monetisation of its operational stretches over the next two years.

The company officials indicated that the disruptions in wake of pandemic delayed some of its asset monetisation plan, but with traffic fast returning to near normal levels now, about Rs 10,000 crore of road assets would be monetised by NHAI in the current year (FY 22) and the exercise would kick up pace next year with doubling or tripling of the numbers in the next few years.

With the country in firm grip of the second wave of Covid pandemic in the months of April and May, and subsequent restrictions on mobility and partial lockdown, tolling at national highways nose-dived. In a report released earlier, rating agency ICRA had estimated that sequentially tolling had fallen by about 10 per cent in April and close to 30 per cent in May. Thereafter, there has been marked improvement in traffic on highways reaching 90 per cent of pre-Covid levels and has crossed that level too now.

An NHAI official said that the entity is in touch with a clutch of investors and soon bids would be invited for taking the operational NHAI project under the toll-operate-transfer (TOT) model.

Under the TOT model, highway projects which have been operational for at least two years, and which have been generating a steady stream of revenue, are to be leased out to large-cap investors for carrying out O&M (operation and maintenance) operations in consideration of the highest bid upfront concession fee. The investor recovers investment through tolls collected for a stretch over a period of concession spreading over 20-30 years. Once the cost with agreed return is achieved, the road returns back to NHAI.

“The national monetisation pipeline announced by the government has identified the road sector having the maximum potential for such exercise at Rs 1,60,000 crore over the next four financial years. This would be achievable given the tested model already available in the sector. Besides, InvIT model would also be used to pool resources and monetise projects,” said a road sector expert asking not to be named.

NHAI has planned an InvIT, the second one promoted by a public sector entity after power transmission utility PGCIL, but it has seen multiple deferments over the Covid disruptions. But a Rs 5,100 crore InvIT is now likely next month.

The InvIT trust will acquire 100 per cent of the equity shares of the project SPV from the sponsor NHAI. It is expected that NHAI may raise further funds, around Rs 5,000 crore, by transferring more assets to the InvIT later in the year.

But TOT may remain the most active model for monetisation. So far NHAI has raised around Rs 17,000 crore through the TOT model by granting on long-term lease three road bundles out of the five attempted so far. The sixth bundle will be out soon.

Another exercise for asset monetisation by NHAI will be through toll securitisation where the authority gets paid for investment in road construction and private investor gets to collect toll.

Proceeds from the asset monetisation programme are used to repay debt and develop highways. As on March, 2021, NHAI had around Rs 3 lakh crore debt. It is permitted to borrow Rs 65,000 crore in 2021-22, same as in 2020-21.

The expectation of asset monetisation (by NHAI and other developers including EPC developers) is also supported by the past performance of road EPC companies. Between fiscals 2016 and 2021, sale of assets to InvITs or to private equity funds helped unlock Rs 80,000 crore of enterprise value for the sector (Rs 50,000 crore for the road EPC companies analysed), according to a Crisil report. Around 60% of this was through four InvITs. The funds released strengthened their balance sheets.

The leverage (calculated as total outside liabilities to tangible net worth) of these companies is estimated to have improved to 1.25 times as on March 31, 2021, from 1.87 times as on March 31, 2016, largely supported by asset monetisation.

The Union Budget 2021-22, laid a lot of emphasis on asset monetisation as a means to raise innovative and alternative financing for infrastructure. In her Budget speech, Finance Minister Nirmala Sitharaman had said that monetising operating public infrastructure assets was a very important financing option for new infrastructure construction. Now a Rs 6 lakh crore monetisation pipeline has been announced for bringing in private investment in brownfield Central government projects in various sectors where assets are idling.

Business

Govt disconnects over 82 lakh fraudulent mobile connections via ASTR

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New Delhi, Oct 9: India has disconnected over 82 lakh fraudulent mobile connections through the Artificial Intelligence and Facial Recognition powered Telecom SIM Subscriber Verification (ASTR) tool, Union Minister of State for Communications and Rural Development Dr Chandra Sekhar Pemmasani said on Friday.

Addressing the International Telecommunication Union (ITU) Roundtable on “Implementing ITU Standards to Combat Fraudulent Communications” on the sidelines of the India Mobile Congress (IMC) 2026 here, the minister said the country has built a robust and layered defence mechanism against telecom-related fraud and cybercrime.

He noted that organised fraud networks are becoming increasingly sophisticated, with scams involving impersonation, so-called digital arrests, AI-generated voice cloning and deepfakes posing significant challenges. According to the minister, Indians lost more than Rs 22,800 crore to such fraud in 2024.

Dr Pemmasani said India has adopted a five-layered approach to tackle fraudulent communications. This includes real-time blocking of spoofed international calls, identification and disconnection of suspicious mobile connections through the ASTR platform, citizen participation via the Sanchar Saathi initiative, intelligence sharing through the Digital Intelligence Platform (DIP), and targeted action against emerging fraud channels.

Highlighting the impact of these initiatives, he said the Sanchar Saathi app has been downloaded around 25 million times, enabling citizens to actively participate in reporting suspected fraud and misuse of telecom resources.

The minister added that the Digital Intelligence Platform currently connects more than 1,600 organisations, including telecom service providers, banks and law-enforcement agencies, facilitating real-time information sharing to detect and prevent fraudulent activities.

He further said that the Financial Fraud Risk Indicator has helped avert suspected financial losses exceeding Rs 5,000 crore over the past 15 months by enabling timely intervention against fraudulent transactions.

Emphasising the need for international collaboration, Dr Pemmasani said fraud has become a global problem that requires coordinated global solutions.

He underscored the importance of adopting international standards for digital verification of caller identities across networks to curb cross-border fraud.

Welcoming the ITU’s proposal for joint trials among governments, regulators, telecom operators and technology companies, he said India is ready to participate and contribute to the development of global frameworks for trusted communications.

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Skill training institutes no less than IITs, IIMs: PM Modi urges youth to champion skill development

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New Delhi, Oct 9: Prime Minister Narendra Modi on Friday met members of India’s contingent that delivered an impressive performance at the WorldSkills Competition Shanghai 2026, congratulating the young participants for showcasing their talent and skills on the global stage.

The interaction took place at the Prime Minister’s residence at 7, Lok Kalyan Marg, where PM Modi lauded the competitors for their achievements and encouraged them to continue excelling in their respective fields.

Sharing details of the meeting on social media, the Prime Minister praised the participants for their outstanding performance at the international skills competition and said it was a pleasure to interact with and motivate the young achievers.

The Prime Minister underlined the objective behind establishing a separate Ministry for Skill Development and said that the importance of skill training institutions is no less than that of IITs and IIMs. He encouraged the participants to share their experiences and suggestions with the government to help improve India’s skill training system.

India recorded its best-ever performance at the 48th WorldSkills Competition, held from September 22 to 27 at the National Exhibition and Convention Center (NECC) in Shanghai. The country secured six silver medals and 20 Medallions for Excellence, finishing 10th in the overall rankings.

The latest result marks a significant improvement from the previous edition of the competition held in France’s Lyon in 2024, where India finished 13th with four bronze medals and 12 Medallions for Excellence.

The improved ranking reflects the growing capabilities of India’s skilled workforce and its rising presence in global skills competitions.

According to the Ministry of Skill Development and Entrepreneurship, the six-day event brought together more than 1,400 young competitors from nearly 70 countries and regions.

India fielded its largest-ever contingent, comprising 70 competitors, who participated in 63 skill categories spanning emerging technologies, advanced manufacturing, engineering, creative industries and specialised services.

After four days of intense competition, winners were honoured during the closing ceremony held in Shanghai on September 27. The event celebrated excellence in technical expertise, innovation, precision and craftsmanship, drawing participants, industry leaders, experts and international delegations from across the world.

India’s participation in WorldSkills Shanghai 2026 was coordinated by the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship, with support from Sector Skill Councils, industry partners, training institutions and technical experts.

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PhonePe and DPCGC forge partnership to drive regulatory compliance in the OTT ecosystem

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New Delhi, Oct 9: PhonePe and the Digital Publisher Content Grievances Council (DPCGC), a self-regulatory body under the aegis of the Internet and Mobile Association of India (IAMAI), have announced the signing of a Memorandum of Understanding (MoU).

The partnership aims to facilitate seamless SRO certification for all merchants, champion regulatory compliance, and drive merchant education for all merchant partners onboarding on PhonePe’s Payment Gateway.

Under applicable Indian regulations, over-the-top (OTT) or Publishers of Online Curated Content (OCCPs) are legally required to be members of a recognised self-regulatory organisation (SRO) for grievance redressal.

Pioneering a compliance-first approach, PhonePe enforces this regulatory requirement as a mandatory prerequisite during its merchant onboarding process.

DPCGC is a Level II SRO formed under the IT Rules, 2021, which is registered with the Ministry of Information and Broadcasting.

Through the MoU, PhonePe and DPCGC aim to drive merchant education and awareness.

Recognising the limited awareness among OTT/OCCPs regarding SRO compliance, the joint initiative will educate both existing and prospective merchants on regulatory requirements and seamlessly facilitate their SRO certification through DPCGC.

The partnership further strengthens PhonePe’s position as a trusted, robust, and compliant payment partner tailored for the rapidly growing OTT ecosystem.

Dr. Subho Ray, President of IAMAI, said, “DPCGC, established under the IT Rules, is committed to efficiently addressing concerns and grievances related to OTT platforms through self-regulation.

This collaboration between DPCGC and PhonePe will foster greater alignment and adherence to the Code of Ethics, expanding the reach of self-regulation and strengthening its benefits for both the industry and its users.”

Deep Agrawal, Head of Payments at PhonePe, added, “At PhonePe, compliance and trust are at the core of everything we build. The OTT segment has exploded in terms of coverage and penetration over the last couple of years.

Agrawal further stated that our MoU with DPCGC will allow us to educate the OTT platforms to seamlessly drive higher awareness about customer grievance redressal, reinforcing PhonePe as the most trusted & compliant growth partner for India’s booming OTT ecosystem.”

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