The government’s revenue from the sale of spectrum for 3G and broadband wireless access (BWA) is set to cross Rs 1 lakh crore with a pan-India bid for BWA touching Rs 10,652 crore on the 12th day of the auction.
At this bid amount, the government will earn Rs 31,956 crore from the sale of BWA spectrum alone.
The government had projected just Rs 35,000 crore from the sale of spectrum for both 3G and BWA put together. Having already garnered Rs 67,719 crore from 3G spectrum sale alone, the total revenue stood at a whopping Rs 99,675 crore.
Among the individual circles, Mumbai received the highest bid at Rs 1,804.30 crore.
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New role for IDBI’s Bharat Pal
Age Correspondent
Hyderabad
IDBI Bank on Monday said its deputy managing director, Mr Bharat Pal Singh, will look after the day-to-day affairs of the lender after its chairman and managing director, Mr Yogesh Agarwal, demitted office.
Mr Singh will coordinate the day-to-day affairs of the bank following Mr Agarwal’s exit, as CMD on June 5, a press release said.
Mr Singh, who has spent nearly 3 decades with the bank will be associated with corporate finance, merchant banking and HR, the release added.