Auction not included spectrum will be used in 5G services
The spectrum of 3300-3600 MHz frequency not included in the auction is to be used for 5G services. The auction for this will be done separately later. Successful bidders will have the option to pay the entire bid amount in one go or pay 25 percent initially for the spectrum won in a fixed amount i.e. 700 MHz, 800 MHz, 900 MHz. Apart from this, bidders will have to pay 50 per cent for the spectrum acquired in 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz.
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The remaining amount can be paid to successful bidders in a maximum of 16 monthly installments (EMIs) after two years of withholding. The validity of the spectrum acquired in this auction will be 20 years. Private sector telecom companies Reliance Jio, Bharti Airtel and Vodafone Idea have deposited Earnest Money Deposit, EMD for spectrum auction. Jio has submitted the highest EMD of Rs 10,000 crore for the auction.
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‘No bidder found for airwaves in premium bands’
Telecom Minister Ravi Shankar Prasad (Ravi Shankar Prasad) said that on the first day, spectrum worth Rs 77,146 crore was bid. However, no bidders were found for the airwaves in the Premium 700 and 2500 MHz bands. He said that the auction will continue tomorrow i.e. on Tuesday. The bids were found in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz. About a third of the spectrum being auctioned is in the 700 MHz band, which was unsold during the 2016 auction.