Business
India's 'biggest' spectrum auction begins on Saturday morning
New Delhi, Oct 1: India's biggest auction of telecom spectrum kicked off on Saturday morning with seven operators in fray for a total of 2,354.55 MHz across seven bands, towards which a reserve price of Rs 5.66 lakh crore ($85 billion) has been fixed by the government.
The companies that are participating in the auction are Bharti Airtel, Vodafone India, Reliance Jio Infocomm, Reliance Communications, Idea Cellular, Aircel and Tata Tele -- who have together furnished a total earnest money of Rs 14,653 crore.
The auction is central to the government realising the revenue target of Rs 98,994.93 crore that has been provided for in the budget against 'other communications services' -- the bulk of which is scheduled from the fee paid for spectrum.
The auction timings are from 9 a.m. to 7.30 p.m., Monday to Saturday.
The 2,300-plus MHz of airwaves on the block for telecom operators are in seven bands -- 700 MHz, 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz and 2,500 MHz. In the previous auction 470.75 MHz was on offer, which is set to fetch the exchequer $17 billion during the tenure of licence.
2 hours ago
UN chief condemns terrorist attack in Mali
2 hours ago
Israel-Hezbollah conflict escalates, stoking fears of regional war
2 hours ago
Preparations underway to welcome PM Modi to diaspora event in New York
2 hours ago
US pro-Palestinian group refuses to endorse Harris over Israel-Hamas war concerns
2 hours ago
Israel asks residents to stay near shelters to avoid possible Hezbollah 'retaliation'
2 hours ago
S. Korea, US to hold talks to discuss deterrence against N. Korea threats
2 hours ago
Quad still focussed on maritime security, says US
2 hours ago
133 hospitalised after food poisoning in Myanmar
2 hours ago
PM Modi to participate in 'National PM Vishwakarma Programme' in Wardha today
2 hours ago
SC to hear today SpiceJet's plea against grounding of engines
2 hours ago
Tension prevails in K'taka’s Davanagere after stones pelted during Ganpati procession
2 hours ago
India needs to create content tracking system for GenAI: Report
2 hours ago
Scientists develop 5D ‘everlasting’ memory crystal, Musk urges to write human knowledge