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The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for the 3rd batch of ascending <keyword id="22338892" type="General" weightage="20" keywordseo="e-auctions" source="keywords">e-auctions</keyword> for 730 <keyword id="22951451" type="General" weightage="100" keywordseo="FM-radio-channels" source="keywords">FM radio channels</keyword> in 234 new cities, with an estimated reserve price of Rs. 784.87 crore under the <keyword id="22950610" type="General" weightage="20" keywordseo="Private-FM-Radio" source="keywords">Private FM Radio</keyword> <keyword id="22657617" type="General" weightage="20" keywordseo="Phase-III-Policy" source="keywords">Phase III Policy</keyword>. According to the official statement, the Cabinet also approved a proposal to set the <keyword id="22951452" type="General" weightage="20" keywordseo="Annual-License-Fee" source="keywords">Annual License Fee</keyword> (ALF) for FM channels at 4 per cent of <keyword id="20406587" type="General" weightage="20" keywordseo="Gross-Revenue" source="keywords">Gross Revenue</keyword>, excluding Goods and Services Tax (GST). This will apply to the 234 new cities and towns. The expansion of Private FM Radio to these 234 new locations will address the existing demand for FM radio services in areas still uncovered by private broadcasters, providing access to new and local content in <keyword id="20520759" type="General" weightage="20" keywordseo="regional-languages" source="keywords">regional languages</keyword>. This initiative will create new <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword>, promote local dialects and culture, and support the 'vocal for local' initiative. Many of the approved cities and towns are located in Aspirational districts and areas affected by Left-Wing Extremism (LWE). The introduction of Private FM Radio in these regions will further strengthen the Government's outreach efforts. The evolution of India's Private FM Radio Policy marked a shift from <keyword id="22951453" type="General" weightage="20" keywordseo="medium-wave" source="keywords">Medium Wave</keyword> (MW) broadcasting to Frequency Modulated (FM) waves, driven by a need to enhance the quality and variety of radio programming, improve broadcast standards, and modernize outdated equipment. The journey began with the approval of the FM Phase-I Policy in July 1999, which aimed to revitalize the radio industry by introducing open auctions for selecting successful bidders. However, the initial phase met with limited success, with only 21 channels becoming operational across 12 cities. Recognizing the need for a more robust framework, the government introduced the improved FM Phase-II Policy in July 2005, following recommendations from the Dr Amit Mitra Committee and the Telecom Regulatory Authority of India (TRAI). This policy was well-received by stakeholders and resulted in significant growth in the FM radio industry, creating new employment opportunities and expanding the reach of private FM radio. Despite this success, many cities, particularly those with populations below three lakh and border areas, remained outside the private FM radio network. The necessity for further expansion led to the introduction of the FM Phase-III Policy, which sought to address the unmet demand for FM radio in uncovered cities. This policy recognized the strategic importance of extending FM radio services to border areas, such as Jammu &amp; Kashmir, the North Eastern states, and island territories, where private broadcasters had been reluctant to enter due to concerns about viability. The policy also aimed to incentivise the development of FM radio in these regions to counter cross-border propaganda and ensure that Indian radio channels had a wider reach. Additionally, the Phase-III Policy acknowledged the presence of 97 vacant channels from Phase-II that could not be auctioned for various reasons and emphasized the need for better utilisation of the frequency spectrum allocated for FM broadcasting.

Cabinet approves Rs 784.87 cr e-auctions for 730 FM radio channels across 234 new cities

<ul class="summary-list"><li>A historic gold coin will kick off the sale of one of the most valuable privately owned collections.</li><li>The 1496 King Hans Gold Noble coin is part of the prized L.E. Bruun collection, which is valued at $72 million.</li></ul>A rare Danish gold coin could fetch more than $1 million when it goes to auction next month, kicking off the sale of one of the most mysterious coin collections ever.The 1496 King Hans Gold Noble coin is part of the <a target="_blank" class="" href="https://www.businessinsider.com/coin-collection-danish-worth-72-million-auction-after-100-years-2024-5">collection</a> that once belonged to Danish businessman and butter tycoon Lars Emil Bruun.Brunn spent decades compiling the 20,000 or so coins, bank notes, medals, and tokens that make up the set. The collection has been kept out of the public eye for over a century due to a stipulation in Bruun's will that forbade the sale of the coins until at least a century after his death in 1923.Following the devastation of <a target="_blank" class="" href="https://www.businessinsider.com/animated-map-how-wwi-changed-europe-borders-2017-4">World War I</a>, Brunn decided his collection should be saved as backup reserves for Denmark should a second war hurt Europe. Since 2011, the coins have been kept in a secret location.The collection is estimated to be worth about $72 million, making it the most valuable privately-owned coin collection to ever go to auction, according to <a target="_blank" class="" href="https://stacksbowers.com/the-l-e-bruun-collection/">Stack's Bowers</a>, the coin dealer and auction house overseeing the sale.The crown jewel of the collection is the gold noble, which has a pre-sale estimate of $327,000 to $655,000 but which could sell for more than $1 million at auction, according to the auction house.Dating back to the late 15th century, the large coin is one of the oldest Scandinavian gold coins of all time, Stack's Bowers said in a Tuesday press release. Among the noble's key characteristics are its clearly visible and intricate details, an even flan, traces of the original luster, and no traces of mounting, according to the auction house."In short, it is an almost unbelievable survivor from the late Middle ages, and just as worthy in a collection of medieval art as in a coin collection," the sellers said in a statement.Several Danish gold nobles were struck between 1496 and 1532 for Danish Kings Hans, Christian II, and Frederik I, according to Stack's Bowers. Only 20 coins of its type remain, and most of them are housed in the National Museum of Denmark — making this privately sold noble quite the catch, according to the auction house.The specific reason for this noble's minting remains unknown, but Stack's Bowers said the <a target="_blank" class="" href="https://www.businessinsider.com/england-gold-coins-found-under-kitchen-floor-sell-for-845000-2022-10">coin</a> was likely struck for the king's personal use as a gift for foreign dignitaries at a prominent courtly event in Denmark or abroad.The coin was owned by the then director of the National Museum of Denmark, Christian Jurgensen Thomsen, in the mid 19th century. A count later bought the coin at auction in 1876 before the noble made its way to Bruun's collection.Bruun's collection will be sold in a series of auctions over the course of several years starting next month.The proceeds from the sales are set to go to the butter magnate's heirs.

A single gold coin could fetch more than $1 million as ancient coin collection goes to auction after 100 years of secrecy

<keyword id="2735606" type="General" weightage="80" keywordseo="vedanta-ltd" source="Orion">Vedanta Ltd</keyword> has won the bid for two coal mines in <keyword id="6357961" type="General" weightage="50" keywordseo="odisha" source="Orion">Odisha</keyword>, which were put up for e-auction by the government for commercial mining purpose on Wednesday. The Anil Agarwal-led conglomerate won the bid for <keyword id="14967983" type="General" weightage="80" keywordseo="ghogharpalli" source="Orion">Ghogharpalli</keyword> and its <keyword id="14988853" type="General" weightage="80" keywordseo="dip-extension" source="Orion">Dip Extension</keyword> mines. Both the coal mines are fully explored and the total geological reserves are 1,288.28 million tonnes. Peak rate capacity (PRC) for both the mines is 20 million tonnes per annum, official sources said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/weight-gain-during-the-pandemic-is-increasing-the-incidence-of-pcos-in-women/articleshow/94202794.cms">Weight gain during the pandemic is increasing the incidence of PCOS in women</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ed-asks-paytm-to-freeze-certain-amounts-from-few-merchant-ids-after-raids-ld/articleshow/94212409.cms">ED asks Paytm to freeze certain amounts from few merchant IDs after raids (Ld)</a>

Vedanta bags 2 Odisha coal mines in e-auction

<ul class="summary-list"><li>A forgotten sketch from "Winnie-the-Pooh" illustrator E. H. Shepard was found in a cellar.</li><li>The drawing was drawn on a small card with ink and pencil, and dated 1958. </li></ul>A lost drawing from famed "Winnie-The-Pooh" illustrator E. H. Shepard was recently found in a strange location — in the back of a cabinet, wrapped in a dish towel.The sketch is an original, according to <a target="_blank" href="https://www.cnn.com/style/article/winnie-the-pooh-sketch-gbr-scli-intl/index.html">CNN</a>, and was signed and dated by Shepard in 1958. The drawing appears on the final pages of A. A. Milne's "Winnie-The-Pooh."It was found in the cellar of Christopher Foyle, the former owner of the English bookshop chain Foyles, <a target="_blank" href="https://www.telegraph.co.uk/news/2023/08/24/winnie-the-pooh-drawing-shepard-found-wrapped-tea-towel/">The Telegraph</a> reported. Foyle died in 2022, and <a target="_blank" href="https://www.insider.com/christies-auctioneer-auction-house-what-it-takes-art-bidding-career-2019-5">auctioneers</a> had been valuing his effects and antiques when the drawing was found, per CNN.The auctioneers said the drawing could have been <a target="_blank" href="https://www.businessinsider.com/van-gogh-painting-detroit-institute-of-art-2023-1?_gl=1*1apn5lq*_ga*MzIwMjM2OTE4LjE2ODY1OTY2MTY.*_ga_E21CV80ZCZ*MTY5MzAyNjU1Ny4xNzUuMS4xNjkzMDI3NDk0LjEyLjAuMA..">misplaced or forgotten</a> for decades.Chris Albury, a senior auctioneer as Dominic Winter Auctioneers, which will handle the sale, told CNN the sketch was incredibly valuable."It's worth some tens of thousands of pounds," he said.In a <a target="_blank" href="https://www.dominicwinter.co.uk/news-item/pooh-and-piglet-original-drawing-discovered-in-cellar-drawer/?pc=70">press release</a> from the auctioning house, the sketch was estimated to auction for between £20-30,000, or about $25-38,000.The sketch is a re-drawing of Shepard's — the first 1925 copy, according to the release, was sold in 2022 in New York for over $200,000."It's not in the same league as the original drawing made for the book in the 1920s, but it is the next best thing," Albury told CNN. "It's a fantastically poignant image that means so much to so many adults and children nearly a century after first publication."The sketch will be sold at an auction with other contents of Foyle's library on September 27, according to the Dominic Winter website.Famous illustrations from older books or <a target="_blank" href="https://www.businessinsider.com/paris-auction-most-valuable-comic-strips-2016-4?_gl=1*qjgkce*_ga*MzIwMjM2OTE4LjE2ODY1OTY2MTY.*_ga_E21CV80ZCZ*MTY5MzAyNjU1Ny4xNzUuMS4xNjkzMDI3NDM2LjEwLjAuMA..&amp;_ga=2.210883413.111398744.1693006890-320236918.1686596616">comics</a> have been auctioned off for thousands in past years, but the Shepard drawing is valued higher than many.Drawings by Quentin Blake, who illustrated much of author Roald Dahl's work, are <a target="_blank" href="https://www.invaluable.com/artist/blake-quentin-kfpuc3i5xz/sold-at-auction-prices/?page=13">valued at between</a> $2,500 and about $4,000. A hand-painted collage of the titular character from "The Very Hungry Caterpillar" by Eric Carle is <a target="_blank" href="https://www.artsy.net/auction-result/6709915">valued at about</a> $10,000.The Dominic Winter Auctioneers did not immediately respond to Insider's request for comment, sent outside regular business hours.

An original Winnie-the-Pooh sketch lost for years could sell at auction for up to $38,000

<ul class="summary-list"><li>E-commerce giant <keyword id="302749" type="COMPANY" weightage="60" keywordseo="Alibaba">Alibaba</keyword> has launched an <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> marketplace on its auction platform, SCMP reported Tuesday. </li><li>Several NFTs already have listings on the Chinese service, but bidding will not start until September.</li><li>NFTs have slowly been gaining traction in <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>, even as Beijing's cracks down on cryptocurrencies. </li></ul>Chinese e-commerce heavyweight Alibaba Group has opened a marketplace for trading non-fungible tokens on its auction platform, the South China Morning Post reported Tuesday.The company expects artists, musicians, writers and game developers to sell NFTs of their work on the "Blockchain Digital Copyright and Asset-Trade" marketplace, according to the <a href="https://www.scmp.com/tech/big-tech/article/3145232/alibabas-new-blockchain-auction-platform-selling-star-wars-art-ledger">report</a> from SCMP, which is owned by Alibaba.Several NFTs have already been listed on the service by creators. They will go to auction next month with a minimum bid of 100 yuan, approximately $15. To participate, bidders must pay a deposit of 500 yuan, or around $77. NFTs are unique digital tokens such as images, videos, sound clips or certificates that are built on a blockchain. Ownership is inscribed on the ledgers the tokens are built on - this is crucial, as often anyone can view an NFT, but only one person can actually own it. They are therefore often popular among collectors. The digital tokens have staged a comeback after demand cooled off in the early summer. Trading volumes on NFT platform OpenSea <a href="https://markets.businessinsider.com/news/currencies/opensea-trade-volumes-nft-ether-solana-alcoin-a16z-funding-strong-2021-8">have soared</a> in recent weeks, as more tokens are sold and their worth accelerates.Items listed on Alibaba Auction include a painting of a local Sichuan landmark, as well as art based on major franchises such as "Star Wars", the video game "Wasteland 2", and "Grand Theft Auto", according to SCMP journalist Josh Ye. He <a href="https://twitter.com/TheRealJoshYe/status/1427445874595045385">tweeted</a> screenshots of the NFTs on the marketplace. "We are not sure if these are properly licensed in the first place," Ye said. The NFTs will be will be minted on the New Copyright Blockchain, which is run by the Sichuan Blockchain Association Copyright Committee. They can be stored and viewed through Bit Universe, an application that is part of the Chinese messaging and social media app WeChat. NFTs have slowly been gaining traction in China, even as Beijing cracks down on cryptocurrency products and mining. The government appears to be more receptive to blockchain products, and in June, the SCMP <a href="https://www.scmp.com/tech/tech-trends/article/3136515/china-plans-accelerate-blockchain-development-and-adoption-push">reported</a> that China is aiming to incorporate blockchain technologies into its development and economic plans. Alibaba-affiliated financial service firm Ant Group and SCMP itself have launched NFT projects this summer. In addition, Chinese entertainment giant Tencent joined the NFT world earlier in August with its own token-trading platform, where it sold audio clips from a popular talkshow.

Chinese e-commerce giant Alibaba opens NFT auction site for artists and game developers

Markets regulator Sebi on Monday said it will auction 66 properties of <keyword id="1641057" type="General" weightage="100" keywordseo="saradha-group" source="Orion">Saradha Group</keyword> on April 11 at a reserve price totalling Rs 32 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (Sebi) said in a notice. The regulator said that the e-auction will be conducted between 11 am and 1 pm on April 11, 2023. The total reserve price of these properties is pegged at about Rs 32 crore. Sebi has engaged <keyword id="6085536" type="General" weightage="50" keywordseo="quikr-realty" source="Orion">Quikr Realty</keyword> to assist it in the sale of the properties and appointed C1 India as the e-auction provider. The development came after the Calcutta High Court passed an order in June 2022, whereby it directed Sebi to proceed with the auction of properties of the <keyword id="1648299" type="General" weightage="50" keywordseo="saradha-group-of-companies" source="Orion">Saradha Group of Companies</keyword>. The entire exercise was directed to be completed within three months. Saradha Group, a consortium of over 239 private companies, allegedly ran chit-fund operations in West Bengal, Assam and Odisha and raised around Rs 4,000 crore from 1.7 million depositors before it collapsed in April 2013. As per the notice, the regulator said bidders should make their own independent enquiries regarding the encumbrances, litigations, attachments and acquisition of liabilities of the property put on auction, prior to submitting their bid. "The purchaser shall participate in the e-auction on his own behalf and no third party intervention, like authorized agent/representative, would be permitted. The successful bidder shall bear the charges/ fee payable for the transfer of the property in his/her name. All taxes shall be borne by the purchaser," the notice said. In September 2022, the regulator said that it will auction 69 properties of the Saradha Group of Companies on November 1 at a reserve price of Rs 30 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbi-may-hike-benchmark-lending-rates-by-25-bps-in-april-dbs/articleshow/98607945.cms">RBI may hike benchmark lending rates by 25 bps in April: DBS</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rcap-debt-resolution-torrent-investments-moves-sc-against-nclt-decision/articleshow/98607932.cms">RCap debt resolution: Torrent Investments moves SC against NCLT decision</a>

SEBI to auction 66 properties of Saradha Group to recover investors' money

Japanese two-wheeler major <keyword id="48197" type="General" weightage="100" keywordseo="yamaha" source="Orion">Yamaha</keyword> on Monday said its entire motorcycle range in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> would be compliant with E20 fuel by the end of this year. The company also announced that its 149cc-155 cc bike range in the country would now come with <keyword id="8136580" type="General" weightage="80" keywordseo="traction-control-system" source="Orion">Traction Control System</keyword> (TCS) as a standard feature. Yamaha used to offer only R15M and R15V4 with the TCS and now FZS-Fi V4 Deluxe, FZ-X and MT-15 V2 Deluxe would also come with the technology. The traction control system controls the ignition timing and fuel injection volume to instantly adjust engine power output to avoid excessive slippage. This ensures efficient delivery of power to the wheel and minimising wheelspin. The company stated that the 2023 motorcycle line-up now comes equipped with onboard diagnostics (OBD-II) system, a requirement for the upcoming stricter emission norms which will kick in from April 1 this year. "While our present strategy is filled with action to keep customers engaged and excited, we also never forget our responsibility to provide a carbon-neutral future for mobility. As the first step in that direction, today we have launched the FZS-Fi V4 Deluxe and the FZ-X models compliant with E20 fuel and by end of this year, we plan to make all our motorcycle models compatible with E20 fuel," <keyword id="12798300" type="General" weightage="50" keywordseo="yamaha-motor-india-group-of-companies" source="Orion">Yamaha Motor India Group of Companies</keyword> Chairman <keyword id="12798301" type="General" weightage="50" keywordseo="eishin-chihana" source="Orion">Eishin Chihana</keyword> noted. The E20 fuel comprises 20 per cent ethanol blended with gasoline. The FZS-Fi V4 Deluxe is now priced at Rs 1.27 lakh; FZ-X at Rs 1.37 lakh; R15M at Rs 1.94 lakh; R15V4 at Rs 1.82 lakh; MT15 V2 Deluxe at Rs 1.68 lakh (ex-showroom). "Globally, Yamaha motorcycles are immensely appreciated for their impeccable handling and performance. And we are confident that the more evolved 2023 versions of our motorcycles with a list of highly desired features will surely entice our young consumers in India," Chihana said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/modern-love-in-india-for-young-indians-it-is-mind-over-matter/articleshow/97864352.cms">Modern love in India: For young Indians it is mind over matter</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/fugitive-diamantaire-nirav-modis-pune-flats-remain-unsold-to-go-for-re-auction-at-slashed-rates/articleshow/97862420.cms">Fugitive diamantaire Nirav Modi's Pune flats remain unsold, to go for re-auction at slashed rates</a>

Entire motorcycle range to be E-20 compliant by end of the year: Yamaha

Kolkata, Mar 26 () To protect interests of itsconsumers, Coal India Ltd on Thursday said it has relaxedpayment terms and directed the railways to defer loading ofrakes for non-power buyers due to last-mile connectivitydisruption following the nationwide lockdown.The world's largest miner has also directed itssubsidiary companies to extend the date for payment bysuccessful bidders in e-auctions, in case it falls within thelockdown period."CIL is helping its non-power customers overcomelast-mile connectivity issues they are facing due to thenationwide lockout declared to contain the Covid-19 outbreak,"a top Coal India official told .CIL has requested Indian Railways to defer coalloading of rakes for non-power consumers who do not have theirown unloading system inside their plants or have to unloadrakes at other sidings."In the prevailing situation, many non-power consumershave approached CIL requesting deferring of loading of theirallotted rakes," the official said.The situation will be reviewed after the lockdown iswithdrawn, he said.The official said CIL is also changing the time ofvarious e-auction schemes which were scheduled during thelockdown period.The Centre has recently exempted coal and mineralproduction, transportation &amp; activities incidental to miningoperations under the Disaster Management Act and lockdown. BSMNN NN

Lockdown: CIL relaxes payment terms, reschedule e-auctions

Kolkata, Apr 21 () The West Bengal government onTuesday allowed the tea industry to conduct e-auction amid thelockdown, but in strict adherence to social distancing normsand other guidelines in the wake of the COVID-19pandemic.State Chief Secretary Rajiva Sinha issued an orderallowing the e-auction.The order said that e-auction should be held afterobserving social distancing norms and other guidelines in thewake of the coronavirus spread.The Secretary of Calcutta Tea Traders Association(CTTA), J Kalyansundaram, said, "We welcome the decision.""We had requested the government to allow the conductof e-auction in tea after the lockdown came into effect," hesaid.The last e-auction was held on March 17, he said.The CTTA conducts e-auction in Kolkata.Kalyansundaram said the government's letter has beenforwarded to the sale sub-committee for preparing the futuresales programmes.The government had earlier allowed plucking of tea inthe gardens with 25 per cent of the workforce. dcSBN SBN

West Bengal govt allows e-auction of tea amid lockdown

<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

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. 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