Diplomacy
Chinese Premier Li Keqiang seeks trust in India as border issue continues to irk
Chinese Premier Li Keqiang is seeking to build trust with India on his first foreign trip since taking office, which comes just a few weeks after a military standoff between the Asian giants on their ill-defined border in the Himalayan mountains. Full Article | Slideshow
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
India allows telcos to refinance airwave auction debt with offshore loans
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
A vendor speaks on his mobile phone as he waits for customers at his roadside shop selling clothes in Mumbai February 2, 2012.
Credit: Reuters/Danish Siddiqui/Files
NEW DELHI |
NEW DELHI (Reuters) - The government on Friday allowed telecommunications companies to raise loans from offshore markets to refinance local debt for funding an airwave auction that starts on Monday.
The Reserve Bank of India will issue a formal notification on this within a week, a government statement said.
India is selling second-generation mobile phone airwaves for the first time through an auction after a court order. The base price for the auction has been set at more than seven times what carriers paid in earlier state grant process. (Reporting by Manoj Kumar; Writing by Rajesh Kumar Singh; Editing by Devidutta Tripathy)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters