Spectrum Auction Day 1 : Govt Mops Rs 60,000 Cr
In what is turning out to the biggest spectrum auction in the country, the government is assured of mopping up more than Rs 60,000 crore from the bids in the first day itself. The auction for airwaves in four bands -900 Mhz, 1800 Mhz, 2100 Mhz and 800 Mhz- started on Wednesday, 4th of March, with... read more »
Services growth soars to 8-month high: HSBC
Services sector expanded rapidly in February at the fastest growth rate in eight months, driven by significant rise in new business orders even as jobs fell marginally in the sector, an HSBC survey said on Wednesday. The HSBC India Services Business Activity Index, which tracks changes in activity... read more »
RBI cuts interest rate by 25 basis points
In a surprise move, the Reserve Bank of India has cut the key policy rate by 25 basis points, setting the tone for a reduction in lending rates by banks. This will prod banks to drop interest rates on home and car loans. The policy repo rate under the liquidity adjustment facility (LAF) is cut by... read more »
Government Eyes Rs. 1 Lakh Crore From Spectrum Auction: 10 Facts
The biggest-ever auction of 2G and 3G spectrum started on Wednesday and is likely to fetch the government over Rs.82,000 crore based on the reserve price. But analysts have said that the government will get around Rs. 1 lakh crore from the sale of radiowaves used for mobile telephony. Here is a... read more »
