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Science & Technology Current Affairs October 1st Week 2016
Category : Science & Technology Current
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1) India`s `biggest` spectrum auction begins.

  • India`s biggest auction of telecom spectrum kicked off with seven operators in fray for a total of around 2,354 MHz across seven bands. The bands are 700, 800, 900, 1800, 2100, 2300 and 2500 MHz. 
  • The companies that have qualified for the auction are Bharti Airtel, Vodafone India, Reliance Jio Infocomm, Reliance Communications, Idea Cellular, Aircel and Tata Tele, who have furnished total earnest money of Rs. 14,653 crore.
  • This is the first time radiowaves in 700 Mhz band has been put up for auction and it is priced at 4 lakh crore rupees at the reserve price. 
  • Top investment banker Goldman Sachs has predicted that total proceeds from the auction will be around $7 billion - less than half of $16 billion that was fetched in the 2015 auction and sharply below $85 billion if all spectrums were sold at the reserve price.