The date of spectrum auction has been changed. The Department of Telecommunications has extended the date of spectrum auction by 17 days to June 6. Amendments were made in this regard on Wednesday in the notice issued for inviting applications. According to Bhasha news, the department has also reduced the bank guarantee and earnest money deposit guarantee to ease liquidity for bidders. According to Bhasha news, as per the notice amendment, the new date of start of ‘Live Auction’ after the announcement of Lok Sabha results has been changed from May 20 to June 6.
New date for auction as a trial basis
According to the news, as a test 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.
Spectrum auction will be held in so many bands
According to the Department of Telecommunications, all 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 the 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. All the telecom companies of the country will participate in this spectrum auction.
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