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<keyword id="20509941" type="General" weightage="20" keywordseo="spectrum-auction" source="keywords">Spectrum auction</keyword> for <keyword id="22185968" type="General" weightage="20" keywordseo="mobile-radiowaves-services" source="keywords">mobile radiowaves services</keyword> worth Rs 96,000 crore ended with <keyword id="20055672" type="General" weightage="20" keywordseo="bids" source="keywords">bids</keyword> worth about Rs 11,000 crore, according to sources. The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has put over 10,500 Mhz spectrum in eight <keyword id="21197262" type="General" weightage="20" keywordseo="frequency-bands" source="keywords">frequency bands</keyword> -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction. "There were no fresh bids in the morning session. The auction has ended with bids worth about Rs 11,000 crore," the source said, adding that <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> has emerged as the biggest bidder in the auction. During the last auction in 2022, which turned out to be a seven-day affair, a record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold, with billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio" meta.hostid="261" meta.entityid="Jio">Jio</keyword> emerging as the top bidder, cornering nearly half of all the airwaves (worth Rs 88,078 crore). At that time, telecom tycoon Sunil Mittal's Bharti Airtel made a successful bid of Rs 43,084 crore, while Vodafone Idea bought Spectrum for Rs 18,799 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank">Stanley Lifestyles IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank">OnePlus Nord CE 4 Lite vs Poco X6 – which phone should you buy under ₹25,000?</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank">IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore</a>

Spectrum auction ends with bids worth ₹11,000 crore, Bharti Airtel emerges as the biggest bidder

Led by <keyword id="6354504" type="General" weightage="100" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, the mega <keyword id="764355" type="General" weightage="20" keywordseo="5G" source="Orion">5G</keyword> spectrum auction ended on Monday after receiving record bids worth over Rs 1.5 lakh crore in 40 rounds spanning across seven days. 5G airwaves worth Rs 1,50,173 crore has been sold so far and the final tally is being prepared by the government, according to sources. Day six of the 5G spectrum auction on Sunday saw an incremental increase in the bidding figure after 37 rounds, with bids worth Rs 1,50,130 crore. According to industry analysts, Reliance Jio has placed bids for more than Rs 84,500 crore, while <keyword id="15491" type="General" weightage="50" keywordseo="airtel" source="Orion">Airtel</keyword>'s bids are worth more than Rs 46,500 crore. Vodafone Idea has placed bids of around Rs 18,500 crore, while a unit of <keyword id="118623" type="General" weightage="50" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword> has bids of around Rs 5,000 crore. Jio and Airtel were fiercely engaged in intense bidding in <keyword id="3829976" type="General" weightage="50" keywordseo="uttar-pradesh-east" source="Orion">Uttar Pradesh East</keyword> circle for the 1800MHz band. Devroop Dhar, Co-founder and board member, Primus Partners, said the auction stands testimony to the fact that the industry is willing and ready to expand further than ever before. "That is also the reason behind the key players finally going for the 700MHz bands. The 40 per cent cut down of the bands for Rs 3,927 crore per unit acted as an aid for the bidders," Dhar said. The expansive 700MHz band is built to cover densely populated regions such as India, which will truly benefit from this band and receive expansive 5G coverage. "As the bidding has been much higher than the previous auctions, the amount generated will add positively to the revenue and will help the government in the future while setting up the 5G infrastructure," Dhar added. While Reliance Jio may have an upper hand in terms of bundled handsets and their investments, other industry players also have an opportunity to compete in the industry as according to studies, Indian consumers claim to be willing to pay 50 per cent more for 5G-bundled plans. "Hence, the companies need to find an incentive to get their customers upgrade to 5G devices," Dhar said. IT Minister <keyword id="7796574" type="General" weightage="50" keywordseo="ashwini-vaishnaw" source="Orion">Ashwini Vaishnaw</keyword> expects 5G rollout by October this year.

5G spectrum auctions fetch ₹1.5 lakh crore – more than half of it comes from Reliance Jio

<ul><li>The Indian government approved <keyword id="16054" type="General" weightage="80" keywordseo="dot" source="Orion">DoT</keyword>’s 5G spectrum auction during a cabinet meeting held on June 14.</li><li>Reportedly, an auction of 72097.85 MHz of spectrum with 20 yrs validity by July-end will be put to auction.</li><li>India is going to get 5G connectivity soon.</li></ul>The Union Cabinet has approved the auction of airwaves capable of offering fifth-generation or 5G telecom services including ultra high-speed internet, and gave its nod for setting up of captive 5G networks by the big tech firms. The auction of over 72 GHz of the spectrum will be held by July-end, said an official statement detailing the decision taken by the Union Cabinet headed by Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>, at its meeting held on June 14. The spectrum auction will commence on July 26, 2022. Sources told PTI that the Cabinet has approved 5G auctions at reserve prices recommended by the sector regulator Telecom Regulatory Authority of India (TRAI). TRAI had earlier recommended about a 39 per cent reduction in the reserve or floor price for the sale of 5G spectrum for mobile services. While the 5G spectrum in nine frequency bands will be auctioned to telecom operators like Bharti Airtel and Reliance Jio, the Notice Inviting Applications -- bid-related document issued by DoT -- said big tech firms for the time being will be allowed to take the 5G spectrum for their captive non-public network, on lease from the telecom companies. The Notice Inviting Offer said direct allocation to the big tech companies will follow a demand study and sector regulator TRAI's recommendation on aspects such as pricing and modalities of such allocation. Big tech companies like Google have been seeking direct allocation of spectrum for applications such as machine-to-machine communications, IoT and AI, while telecom companies have been opposing direct allocation of 5G spectrum to them saying it will distort the level playing field and rob the government of revenues. "Enterprises setting up Captive Non-Public Network may obtain the spectrum on lease from TSPs (telecom service providers) having Access Service Authorization and establish their own isolated network. Required Licensing terms and conditions and Spectrum Leasing guidelines shall be issued by DoT," the Notice Inviting Applications said. As per the document, the government from time to time will publish required provisions and guidelines and licensing terms and conditions for enabling the setting up of Captive Non-Public Network (CNPN). According to the document, the auction is slated to start on July 26, 2022. Among other key dates to watch-out for is the pre-bid conference scheduled for June 20, 2022, submission of applications with a deadline of July 8, and pre-qualification of bidders on July 18. Mock auctions will be held on July 22 and 23, 2022. A total of 72097.85 MHz of spectrum with a validity period of 20 years will be put to auction to be held by the end of July, 2022. "The Union Cabinet chaired by Prime Minister Narendra Modi has approved a proposal of the Department of Telecommunications to conduct spectrum auction through which spectrum will be assigned to the successful bidders for providing 5G services to public and enterprises," the official release said. The auction will be held for spectrum in various Low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), Mid (3300 MHz) and High (26 GHz) frequency bands. Overall, the payment terms have been eased for bidders in the upcoming auction. Continuing the pace of telecom sector reforms, the Cabinet announced various progressive options with regard to the spectrum auction, for facilitating ease of doing business. "For the first time ever, there is no mandatory requirement to make upfront payment by the successful bidders. Payments for spectrum can be made in 20 equal annual instalments to be paid in advance at the beginning of each year," it said, adding this is expected to significantly ease cash flow requirements and lower the cost of doing business in this sector. The bidders would be given an option to surrender the spectrum after 10 years with no future liabilities with respect to balance instalments. No SUC (spectrum usage charges) will be charged for spectrum acquired in this auction. "The availability of sufficient backhaul spectrum is also necessary to enable the roll-out of 5G services. To meet the backhaul demand, the Cabinet has decided to provisionally allot 2 carriers of 250 MHz each in E-band to the Telecom Service Providers," the official statement said. The Cabinet also decided to double the number of traditional Microwave backhaul carriers in the existing frequency bands of 13, 15, 18 and 21 GHz bands, the release informed. The India market is gearing up 5G services, that will usher in ultra high speeds and spawn new-age services and business models, and the mega-auctions will pave the way for roll out of next generation services by telcos, in 2022-23. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/asus-story-from-nobody-knows-you-sell-laptops-to-the-third-largest-laptop-maker-in-india/articleshow/92220613.cms">INTERVIEW: From ‘nobody knows you sell laptops’ to the third largest laptop maker in India — the Asus India story</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-infosys-and-hcl-tech-can-do-better-in-a-shallow-recession-than-a-slowdown/articleshow/92214156.cms">TCS, Infosys and HCL Tech can do better in a shallow recession than a slowdown</a>

Indian govt approves 5G spectrum auctions, but telcos might not be happy

Indians have started buying 5G phones in the millions even before the government has auctioned the 5G spectrum. If the mere mention of 5G makes people faster, imagine what they would do with actual 5G networks? <div type="image" title="Indians have started buying 5G phones in the millions" msid="90988461" hostid="261" caption="&amp;lt;p&amp;gt;Indians have started buying 5G phones in the millions&amp;lt;/p&amp;gt;"></div> On a serious note, the talk of 5G spectrum auctions has been going on for a long time in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> now. While many countries all over the world have rolled out their 5G networks, India is yet to even auction the 5G airwaves, let alone the commercial rollout. In comparison, countries like France and Germany, albeit a fraction of India’s population and area, have extremely dense 5G coverage. Apart from European countries, China, Australia, the US, several South American countries and a few African countries also have 5G in some capacity. According to <a href="https://www.speedtest.net/ookla-5g-map">Ookla’s</a> 5G network tracker, India is one of the few major countries without a 5G network. India’s immediate neighbours like Pakistan, Afghanistan, Nepal, and Bangladesh, too, haven’t joined on the 5G bandwagon just yet. Despite its economic struggles, Sri Lanka has a functioning 5G network. Even Russia has 5G coverage in its capital, Moscow, although the rest of the country is not covered yet. <div type="image" title="5G in India" msid="90988516" hostid="261" caption="&amp;lt;p&amp;gt;5G in India&amp;lt;/p&amp;gt;"></div> According to a forecast by <a href="https://www.ericsson.com/en/reports-and-papers/mobility-report/dataforecasts/network-coverage">Ericsson</a>, 5G is estimated to cover over 2 billion people by the end of 2021. By 2027, 75% of the world’s population is expected to have 5G access. <div type="image" title="5G coverage is expected to cover 75% of world population by 2027" msid="90988561" hostid="261" caption="&amp;lt;p&amp;gt;5G coverage is expected to cover 75% of population by 2027&amp;lt;/p&amp;gt;"></div> With several countries beginning to shut down legacy networks like 2G and 3G, the migration to 4G and subsequently 5G should be easier. In fact, 98% of the mobile users in India already have access to 4G, so this should make it easier for telecom companies like <keyword id="15491" type="General" weightage="50" keywordseo="airtel" source="Orion">Airtel</keyword>, <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> and Vodafone Idea to allocate more resources towards the 5G rollout. This brings us to the elephant in the room – what is the status of 5G spectrum auctions in India? The state of <keyword id="4400143" type="General" weightage="20" keywordseo="5G-in-India" source="Orion">5G in India</keyword> 5G has been talked about for quite some time in India now, but delayed spectrum auctions have put a dampener on telco plans. <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, the second richest Indian and chairman of market leader Reliance Jio, has <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/5g-spectrum-auctions-may-be-delayed-to-july-next-year/articleshow/88330077.cms?from=mdr">pegged</a> 5G as a matter of “national priority”. Coming to the point, India’s telecom regulator – the <keyword id="12394776" type="General" weightage="50" keywordseo="telecom-regulatory-authority-of" source="Orion">Telecom Regulatory Authority of</keyword> India (TRAI) – has finally put forward its recommendations for 5G spectrum auctions. Encouragingly, the regulator has recommended a 35-40% cut in the baseline 5G spectrum pricing. Telecom operators have been repeatedly asking for rationalised 5G spectrum prices, and the regulator seems to have heard their demands. However, these prices are for a 20-year licence, as opposed to the 30-year term that telecom players have been asking for. Essentially, the price cut comes in at just 5-10%. <div type="image" title="Which telecom giant will win the 5G battle in India?" msid="90988620" hostid="261"></div> Unsurprisingly, telecom players are not happy with the regulator. The regulator, though, says that these <a href="https://www.businessinsider.in/business/telecom/news/recommended-spectrum-prices-are-backed-by-scientific-calculations-says-trai-chief-vaghela/articleshow/90812587.cms">calculations are scientific</a>. It remains to be seen how much enthusiasm Airtel, Jio and Vodafone Idea show during the 5G spectrum auctions, expected to take place in the first half of 2022. We should see some action on this front in the coming weeks. Do we actually need 5G? You must be wondering – do I really need 5G? What am I actually missing out on with just 4G? Honestly, 4G speeds in India are relatively on the lower side. According to an OpenSignal report, the average download speeds on 4G in the US range between 35-40 Mbps. In India, Reliance Jio tops with an average download speed of 29 Mbps. Airtel, which is usually rated for its quality of services, comes in at the third place, beyond even Vodafone Idea which has seen a degradation in its quality of services over the past several months. <div type="image" title="Jio has better download speed than its peers" msid="90988673" hostid="261" caption="&amp;lt;p&amp;gt;Jio has better download speed than its peers&amp;lt;/p&amp;gt;"></div> In contrast, 5G promises to deliver extremely fast speeds – as fast as a whopping 600 Mbps, according to real-world statistics from <a href="https://www.speedtest.net/awards/fastest-5g/">Ookla</a>. The slowest was 156 Mbps in Singapore, which is still over five times faster than Reliance Jio’s 4G speeds. 5G also comes with many other benefits like lower latency, much higher capacity of connected devices, less interference and improved efficiency. Lower latency would benefit those who livestream, do a lot of video calls or play games on their smartphones. Latency here refers to the delays in communication over a network. Lower the latency, the lower the lags and better the experience. Another important area where 5G is a clear winner is the network capacity. If you have been to concerts, sports matches or anywhere where there is a huge crowd, you would have noticed that your 4G internet is barely usable, and calling is a huge problem. 5G solves this with much higher network capacity, so you will not only be able to experience a fast internet connection, but calling should also be relatively better. All-in-all, 5G offers plenty of real world performance improvements over 4G. Does my phone support 5G? Coming to the all-important question – does my phone support 5G? According to a <a href="https://www.businessinsider.in/business/telecom/news/indians-are-now-consuming-over-12000-petabytes-of-4g-data-every-month/slidelist/90221728.cms">report</a> by telecom gear provider Nokia, there are over 10 million 5G devices in India currently. The answer to this is the easier part – most phones with 5G support come with the 5G tag, so if you are confused, or don’t remember, all you have to do is check the phone box. The more important part here is to understand if your 5G phone will actually support India’s 5G bands. Since the auctions haven’t taken place and there is no clarity either from the telecom companies about which 5G bands will be supported by them, this is the piece of the puzzle that can be solved only with time. In the meantime, if you are looking to buy a new smartphone, the best thing that you can do right now is carefully consider how many 5G bands are supported by your new phone. Not every 5G phone is made equal, though, so make sure your new phone supports these bands.

SIMPLY PUT: 5G in India – who, what, when, why and how much?

NEW DELHI: Amid the industry's concerns over less-than-expected price cuts, Trai chairman PD Vaghela on Tuesday asserted that the regulator's recommendations of a 39 per cent drop in <keyword id="804714" type="General" weightage="20" keywordseo="spectrum-prices" source="Orion">spectrum prices</keyword> are rational, attractive and backed by "scientific calculations". Vaghela told PTI that in view of the huge market potential of 5G, he is confident that the telecom industry will actively take part in the auction. The chairman expressed hope that the recommended reserve prices will attract bidders in the forthcoming auction. He also said that the ease of doing business, extensive stakeholder inputs, and facilitating the proliferation of 5G in the country have been the most important drivers for Trai's latest stance. Setting the stage for the rollout of 5G services, telecom regulator Trai on Monday recommended a mega auction plan valued at over Rs 7.5 lakh crore at the base price across multiple bands for radiowaves allocated over 30 years. Overall, the <keyword id="12394776" type="General" weightage="80" keywordseo="telecom-regulatory-authority-of" source="Orion">Telecom Regulatory Authority of</keyword> <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> (Trai) recommended about a 39 per cent reduction in the reserve or floor price for the sale of spectrum for mobile services, including the latest 5G offering, as it looked to match revenue expectations with the industry's paying capacity. Industry body COAI, however, has expressed deep disappointment over Trai's 5G recommendations, and termed the spectrum pricing suggested by the regulator as "too high". Given the recent reforms for the telecom sector announced by the government, these recommendations are "one step backwards than forward" towards building a digitally connected India, COAI claimed. COAI argued that the industry had recommended 90 per cent lower prices, and to see only about 35-40 per cent reduction recommended in prices "is deeply disappointing". Asked about the industry's views on less than expected price cuts, Vaghela in an interview said the regulator's recommendations of a 39 per cent drop in spectrum prices are backed by "scientific calculations". "Trai takes the business of calculation of valuation seriously, and on that basis, we have arrived at rational reserve prices. The prices we have given have been set at 70 per cent of valuation," he said. Taking off from the telecom department's reference seeking auction-related recommendations, Trai considered various aspects like ease of doing business, stakeholder inputs and most importantly, the proliferation of 5G and use cases in the country to ensure that economic benefits of technology are derived by all sections of society, he said. "If you see our recommendations on surrender fee, easy and flexible payment options, and leasing of spectrum for private networks, these are all aimed at ease of doing business and attracting investment into the telecom sector," Vaghela said. While auctions and network rollout are important considerations, "as a country, we need to facilitate penetration of 5G based technologies and use cases", Vaghela said. "A complete ecosystem needs to be created towards this objective," he said. "So, we have recommended action plans for vertical sectors, i.e., industry sectors and social sectors ...that they should be actively preparing plans for adopting 5G applications. Stakeholders like farmers, fishermen, students, MSMEs etc need to be further empowered to be part of the digital economy," Vaghela added. 5G technology once implemented should create demand for telecom products, thereby improving revenue streams for telecom service providers, and should also help consumers and the public at large to become a part of the mainstream digital economy, he noted. "India should reap the benefits of technologies and applications, which are based on 5G," the Trai chief said. On whether the industry has the paying capacity, given that over one lakh <keyword id="13265908" type="General" weightage="80" keywordseo="megahertz" source="Orion">megahertz</keyword> of spectrum worth over Rs 5 lakh crore at reserve price will be on the block (for 20-year allocation), Vaghela said, "With the attractive reserve prices recommended, flexible payment options offered, easy spectrum surrender conditions, recommendations on leasing etc., the forthcoming auction will surely be attractive for the investors". The Indian economy is growing, technology adoption is being ramped up by different vertical sectors and the market for telecom products is expanding at a rapid pace, he noted. "In view of the huge market potential of 5G, I am sure that the telecom industry will actively take part in the auction," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">Xiaomi’s Manu Kumar Jain has been reportedly summoned by the Enforcement Directorate</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/travel-tourism-and-hospitality-sector-is-witnessing-a-surge-in-manpower-demand-by-20-percent/slidelist/90799907.cms">Travel, tourism and hospitality sector is witnessing a surge in manpower demand by 20 percent</a>

Recommended spectrum prices are backed by scientific calculations, says Trai chief Vaghela

<keyword id="6355478" type="General" weightage="50" keywordseo="australia" source="Orion">Australia</keyword> World Cup-winning captain <keyword id="783062" type="General" weightage="80" keywordseo="pat-cummins" source="Orion">Pat Cummins</keyword> became the most expensive player in Indian Premier League (<keyword id="6354312" type="General" weightage="20" keywordseo="ipl" source="Orion">IPL</keyword>) history after <keyword id="1494441" type="General" weightage="50" keywordseo="sunrisers-hyderabad" source="Orion">Sunrisers Hyderabad</keyword> (SRH) secured his services for whooping Rs 20.5 crore during the second round of the IPL 2024 mini-auction, here on Tuesday. Following an intense bidding battle involving Chennai Super Kings and <keyword id="6354506" type="General" weightage="50" keywordseo="royal-challengers-bangalore" source="Orion">Royal Challengers Bangalore</keyword>, Sunrisers Hyderabad eventually secured the Australian captain for a record-breaking amount. Starting with a base price of Rs. 2.00 crore, <keyword id="113731" type="General" weightage="100" keywordseo="cummins" source="Orion">Cummins</keyword> became the center of a bidding war between IPL heavyweights CSK and Mumbai Indians. The fierce battle escalated the bid to 4.8 crore, led by CSK. Soon after, Royal Challengers Bangalore entered the fray with a bid of Rs. 5.00 Cr, joining Chennai and Mumbai in the pursuit. Sunrisers also stepped up, placing a bid at Rs. 8.00 Cr, marking Cummins as the day's first millionaire. The bidding war intensified between SRH and RCB, with both pushing the bids to Rs. 12.00 Cr. As the bids surpassed the 15-crore mark, the competition heated up, prompting SRH to elevate their offer to 17 crore. Crossing the Rs 18.5 crore mark, Cummins claimed the title of the IPL's priciest player in history, surpassing Sam Curran's record sale of Rs 18.50 crore in the 2023 auction. Yet, the competition remained tight with RCB pushing the bid to Rs. 19.25 Cr. Eventually, SRH surged ahead, reaching Rs. 20 Cr. The bidding war escalated further to Rs. 20.50 Cr, securing Pat Cummins for the team. This marked the inaugural breach of the 20-crore barrier in an <keyword id="90837" type="General" weightage="20" keywordseo="ipl-auction" source="Orion">IPL auction</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/business/news/air-indias-new-global-brand-identity-rollout-to-begin-from-delhi-and-mumbai-airports/articleshow/106119401.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/air-indias-new-global-brand-identity-rollout-to-begin-from-delhi-and-mumbai-airports/articleshow/106119401.cms" target="_blank">Air India’s new global brand identity rollout to begin from Delhi and Mumbai airports</a><a href="https://www.businessinsider.in/stock-market/news/inox-india-ipo-how-to-check-allotment-and-gmp-value/articleshow/106109279.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/inox-india-ipo-how-to-check-allotment-and-gmp-value/articleshow/106109279.cms" target="_blank">Inox India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/best-deals-on-5g-new-mobile-phones-on-amazon/articleshow/106116521.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/best-deals-on-5g-new-mobile-phones-on-amazon/articleshow/106116521.cms" target="_blank">iPhone 13 to Redmi Note 12 – Best deals on 5G smartphones</a>

IPL Auction 2024: Australia captain Pat Cummins becomes most expensive player in IPL history

The Reserve Bank on Friday announced the launch of a mobile app to enable <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword> to participate in government securities (<keyword id="21202837" type="General" weightage="20" keywordseo="G-Secs" source="keywords">G-Secs</keyword>) or <keyword id="20283766" type="General" weightage="20" keywordseo="government-bonds" source="keywords">government bonds</keyword> market. <keyword id="21202838" type="General" weightage="20" keywordseo="rbi-retail-direct-scheme" source="keywords">RBI Retail Direct Scheme</keyword>, launched in November 2021, gives access to individual investors to maintain gilt accounts with the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> and invest in government securities. The Scheme enables investors to buy securities in primary auctions as well as buy/sell securities through the <keyword id="382785" type="General" weightage="20" keywordseo="Negotiated-Dealing-System" source="Orion">Negotiated Dealing System</keyword> - <keyword id="21202839" type="General" weightage="20" keywordseo="Order-Matching-system" source="Orion">Order Matching system</keyword> (NDS-OM) platform. "To further improve ease of access, a mobile application of the Retail Direct portal is being developed. The app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use shortly," RBI Governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> said, while announcing the first bi-monthly monetary policy for the current fiscal. The government is planning for gross market borrowing of Rs 14.13 lakh crore for 2024-25. Out of this Rs 7.5 lakh crore, or 53 per cent, is scheduled to be borrowed in the first half (H1). In a separate announcement, RBI permitted non-bank payment system operators to offer Central Bank Digital Currency (CBDC) wallets to encourage its wider use. Currently, CBDC pilots in the retail and wholesale segments are underway with more use-cases and more participating banks. "Continuing with this approach, it is proposed to make CBDC-Retail accessible to a broader segment of users in a sustained manner, by enabling non-bank payment system operators to offer CBDC wallets," he said. This is expected to enhance access and expand choices available to users apart from testing the resiliency of the CBDC platform to handle multi-channel transactions, he said, adding, necessary changes will be made to the system to facilitate this. In November 2022, the pilot of the wholesale CBDC, known as the Digital Rupee-Wholesale (e-W), was launched with the use case being limited to the settlement of secondary market transactions in government securities. In the following month, RBI rolled out a pilot in the retail version of the CBDC (e-R).

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IPL Auction 2024: Australia captain Pat Cummins becomes most expensive player in IPL history

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