Announced in December, just months before a general election due by May this year, the rules were seen as an attempt by Modi government to appease millions of small traders and shopkeepers.
Unlike earlier investments in the news business, this latest round is distinguished by how it is not tied to Facebook-related products.
The 'M' series, which will be launched on January 28, will be priced aggressively starting just under Rs 10,000 and going up to Rs 20,000.
According to media reports, Narayanan is in discussions with Star TV-owned video streaming app Hotstar for the CEO's position.
Earlier this week, the bank announced recruitment of Specialist Cadre Officers (SO), on regular and contractual basis, for over 11 vacant posts.
"The brand is now very strong, and it will now leverage the strength of the overall group. I feel good about it," Ananth Narayana told Business Today.
The plants are to be set up at four locations in Telangana - Ramagundam (50 MW), Yellandu (39 MW), Manuguru (30 MW) and Pegadapally (10 MW), on EPC basis.
The openings in India are also three times as much in China that has 467 vacancies, followed by Japan with 381, Australia with 250 and Singapore with 174 openings.
The company is expanding its presence in the e-commerce space and plans to take its fashion discount retail chain Brand Factory online by March this year.
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