Spectrum Auction 2016: India gets bids worth Rs 65,789 crore on Day 5

NEW DELHI: As expected, the government of India has received bids worth about 65,789 crore on the fifth day of the auction of telecom spectrum after 31 rounds, according to the Department of Telecommunications, (DoT)

The government which was 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.

Around 60 per cent of mobile airwaves in value terms remained unsold in what was billed as the country's largest spectrum auction where Rs 5.63 lakh crore worth of spectrum was put up for sale from October 1.

The seven telecom operators, including Bharti Airtel, Vodafone, Idea Cellular, Reliance Jio, Aircel, Reliance Communications RCO) and Tata Teleservices , are participating in the auctions for acquiring 3G and 4G spectrum.They had submitted total earnest money deposit (EMD) of around Rs15,000 crore.

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