VSNL has reduced bandwidth tariffs by over 45 per cent. The price cut has come after VSNL launched its own submarine cable system, Tata Indicom Singapore Chennai Cable (TIC), in November 2004. The reduction is expected to benefit over 3,000 international private leased circuit (IPLC) customers of VSNL. Following the cut, the charges for a half-circuit IPLC will be Rs 4 million to Rs 1.1 million for E-1 (2 Mbps connectivity), from Rs 72.5 million to Rs 11.4 million for DS3 (45 Mbps) and from Rs 210 million to Rs 33 million for STM-1s (155 Mbps). These prices are for restorable capacities between India and the US. This is VSNL's sixth tariff cut in the last four years.