Cabinet allows, BSNL, MTNL to return 4G spectrum
NEW DELHI (Reuters) - The Union Cabinet allowed state-run telecommunications carriers Bharat Sanchar Nigam Ltd BSNL.UL and Mahanagar Telephone Nigam Ltd (MTNL.NS) to return their 4G radio spectrum and get refunds of a total 112.6 billion rupees, in a move to help the money-losing companies.
The government will refund 67.24 billion rupees to BSNL and 45.34 billion rupees to MTNL in a staggered manner, Information and Broadcasting Minister Manish Tewari told reporters on Thursday after a meeting of the cabinet.
BSNL and MTNL had received the spectrum in 2010 but have not yet launched the services.
(Reporting by C.K. Nayak; editing by Malini Menon)
- Tweet this
- Share this
- Digg this
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis
- Comedian Joan Rivers remains in serious condition at N.Y. hospital
- UPDATE 4-Iceland says eruption over, lifts all airspace restrictions
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- REVIEW-Bogdanovich's "She's Funny That Way" milks laughs in Venice
India's economy grew by a faster-than-expected 5.7 percent in the three months through June, its fastest pace in two-and-a- half years, helped by a rebound in manufacturing and mining sectors, government data showed on Friday. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article