5G Spectrum: Payment date extended for telecom companies, now August 17 is the last date

The Department of Telecom has extended the payment date till August 17 for the successful bidders in the 5G spectrum auction. Due to August 16 being a bank holiday in Mumbai and Maharashtra circles, the due date has been extended by one day.

The Department of Telecom has extended the payment date till August 17 for the successful bidders in the 5G spectrum auction.

The Department of Telecommunications has extended the payment date till August 17 for the successful bidders in the recently completed 5G spectrum auction. According to an official order, due to August 16 being a bank holiday in Mumbai and Maharashtra circles, the due date has been extended by one day. The 5G spectrum auction was completed on August 1 in which Reliance Jio, Adani Data Networks, Bharti Airtel and Vodafone Idea had bagged the spectrum.

Why was the date extended?

The Department of Telecommunications, in an order dated August 10, said that in respect of demand notes, being a bank holiday on August 16, 2022 in Mumbai and Maharashtra, the competent authority has extended the due date of payment from August 16, 2022 to August 17, 2022. has decided.

Bids worth Rs 1.5 lakh crore have come in the biggest ever auction of telecom spectrum in the country. Reliance Jio has bagged nearly half of the total spectrum sold in the 5G spectrum auction with a bid of Rs 88,078 crore. Adani Enterprises, a part of the Adani Group, has bought 400 MHz spectrum for Rs 212 crore. This is less than one per cent of the total spectrum sold. The group has bought spectrum in that band which is not used for public telephone service.

Option to pay in 20 equal annual installments

Telecom giant Sunil Bharti Mittal’s Bharti Airtel has bought spectrum worth Rs 43,084 crore, while Vodafone Idea has bought spectrum for Rs 18,799 crore. Spectrum acquirers have the option of paying the entire amount in advance, besides paying in 20 equal annual installments.

If all the successful bidders opt to pay in installments, the government will get Rs 13,412.58 crore on the due date. In this, Reliance Jio will have to pay Rs 7,864.78 crore. Adani Data Networks will have to pay Rs 18.94 crore, Bharti Airtel Rs 3,848.88 crore and Vodafone Idea Rs 1,679.98 crore.

Minister of State for Telecom Devusinh Chouhan had said on Monday that 5G services can start in the country in about a month. Chouhan had expressed this hope while addressing the inaugural ceremony of the International Telecommunication Union’s Regional Standardization Forum (RSF) for the Asia and Oceania region.

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