DoT to seek Trai view on allocating spectrum to Railways without auction
.jpg)
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.
Other Latest News
.webp)
Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer.
Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post.
.webp)
Two individuals have been arrested by the Mumbai Crime Branch late on Monday night for allegedly firing shots outside the residence of Bollywood actor Salman Khan in Bandra West on April 14, several media outlets reported.
"Both individuals, who fled Mumbai following the shooting, were apprehended in Bhuj, Gujarat," stated officials, as per news agency ANI. The Mumbai police confirmed that the detained individuals, identified as Vicky Gupta and Sagar Pal from Champaran, Bihar, will be transported to Mumbai for further interrogation.
.webp)
Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively.
Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector.
.webp)
Shares of Vodafone Idea dropped as much as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
.webp)
Srinivas Pallia, who has been a part of Wipro for over three decades, divested all his shares valued at Rs 5 crore in the company approximately a month and a half prior to his appointment as the new chief executive, according to a report by The Economic Times (ET).
Pallia sold his 100,000 Wipro shares through a 'market sale' on February 14 this year, with the transaction being reported to the exchange on February 15. The total transaction amounted to Rs 5.05 crore, the report added. Following the transaction, Pallia's holdings of securities on the BSE were reduced to zero.
.webp)
.webp)
.webp)
.webp)
.webp)
