Spectrum Auction 2016: Bids worth Rs 60,969 crore but 60% remains unsold on Day 3

NEW DELHI: The government of India has received bids worth about Rs 60, 696 crore on the third day of the auction of telecom spectrum, according to a Department of Telecommunications, (DoT).

On the other hand, over 60% of the airwaves remained unsold thus,telecom operators showed no interest in the coveted 700 MHz and 900 MHz bands on third day of bidding.

The government which will be auctioning the largest ever spectrum 2,354 MHz across seven bands - 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz, 2100 Mhz and 2300 Mhz. The radio waves can be used for 2G, 3G and high-speed 4G mobile services.

Lastly, The government has put up airwaves worth Rs 5.66 lakh crore for sale. The seven telecom operators, including Airtel, Aircel, Idea, Reliance Communications (RCom), Reliance Jio and Vodafone, are participating in the auctions.