DoT to seek Trai view on allocating spectrum to Railways without auction Posted on 6th February 2019 |
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| The Digital Communications Commission on Tuesday directed the Department of Telecommunications (DoT) to seek views from the Telecom Regulatory Authority of India (Trai) on the allocation of 700 MHz premium spectrum worth Rs 65,000 crore to the Railways for signalling purposes without auction. "Indian Railways has asked for 10 MHz of spectrum in 700 MHz band for setting up public safety and security service. The Digital Communications Commission has decided that the DoT should take views of Trai in the matter," Telecom Secretary Aruna Sundararajan told reporters after the first meeting of the Digital Communications Commission (DCC) this year. The radio waves in 700 MHz band are considered a premium for long-distance mobile communications as they require less number of mobile towers to provide services compared to 3G and 4G services. Trai has recommended base price of Rs 6,568 crore per megahertz of radiowaves in 700 MHz band, implying the total value of airwaves at Rs 65,680 crore at the reserve price. The frequency band is earmarked for mobile services and allocating it to Indian Railways for non-commercial use may adversely impact levies like adjusted gross revenue, spectrum usage charges and licence fee. Besides, the DCC, formerly Telecom Commission, in its meeting also decided to allow Telecommunications Consultants India Limited (TCIL), the government's engineering and consultancy firm, to raise funds by diluting 25 per cent stake. “The DCC decision is in line with that of the Cabinet Committee on Economic Affairs to disinvest 25 per cent in the company. TCIL had requested to carry on piggyback transactions of 10 per cent, which the DCC approved. TCIL has been allowed to retain funds raised from 10 per cent stake sale for working capital and the money raised from the sale of the rest 15 per cent will go to the government," Sundararajan said. In a move to boost the setting up of VSAT-based network, the DCC reduced entry fee on VSAT to Rs 15 lakh from Rs 30 lakh, and waived a fee of Rs 16 lakh that organisations required to pay for each VSAT hub thereafter. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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