Telecom Department extends spectrum auction by 17 days to June 6
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New Delhi. The Department of Telecommunications has advanced the spectrum auction by 17 days to June 6. Amendments in this regard were made in the notice issued for inviting applications on Wednesday. The department has also reduced bank guarantee and earnest money deposit guarantee to ease liquidity for bidders. As per the amendment notice, the new date of start of ‘live auction’ after the declaration of Lok Sabha results has been changed from May 20 to June 6. As a trial, the auction will now be held on June 3 instead of May 13 and 14.
The government will auction eight spectrum bands for mobile phone services at a base price of about Rs 96,317 crore. The Department of Telecommunications has also reduced the number of blocks for auction in the 900 MHz band in West Bengal circle to 44. Earlier this number was said to be 48. The validity of Bank Guarantee for Earnest Money Deposit (EMD) in the form of Bank Guarantee will now be till September 30, 2024, whereas earlier it was till December 31, 2024.
According to the department, all the available spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz bands are part of the auction. The spectrum will be assigned for a period of 20 years and successful bidders will be allowed to make payment in 20 equal annual installments. The Department has provided the option to return the spectrum acquired through auction after a minimum period of 10 years.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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