NEWS EXPLANATION For the Sake Of truth.......
DCP LIC. NO. F-2 (N-22) PRESS/2014
01. Head Lines
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JULY-2014,VOL-I, ISSUE-II
01. delhi police info.
India to raise Rs 454.71 billion in telecoms sector fees
02. articles
03. others
Reserve Bank allows overseas FIIs to buy Kotak Bank shares
Rs.10/-
Pages : 04
04. EDUCATIONS Life : Regardless of whether we live in the US, India or anywhere else, family is the building block of any society, and our greatest fulfillment lies there. Of course, one needs to give due importance to work. But if any society works diligently in every other area but neglects the family, it ...
The government expects to raise Rs 454.71 billion (USD 7.59 billion) from the telecoms sector in fees, including proceeds
The Reserve Bank of India (RBI) allowed overseas investors
from airwave auctions, during the current fiscal year, the
today, to buy shares of private sector lender Kotak Mahindra
government said in its Budget presentation on Thursday.
Bank . The RBI said that shareholding by foreign institutional
The previous government had said in its interim Budget in
investors (FIIs) under the portfolio investment scheme in
February that it aims to raise Rs 389.54 billion from the sector. the bank has gone below the prescribed threshold limit Also Read: Telecom space may report 3-4% QoQ growth,
stipulated under FDI rules. “Hence, restrictions placed on
says Religare Receipts under ‘other communication services’
purchase of shares of Kotak Mahindra Bank are withdrawn
mainly relate to onetime spectrum charges levied as per
with immediate effect,” the RBI said in a statement issued
the recommendations of the Telecom Regulatory Authority
here today. The central bank has also notified that all
of India, auction of 1800 MHz and 900 MHz spectrum, and
approvals received against the bank’s shares are duly
receipts from 800 MHz spectrum, the government said. The
cancelled. “Equity shares of Kotak Mahindra Bank can now
Department of Telecom collects recurring licence fees from
be purchased through primary market and stock exchanges,”
various telecom operators licensed by it, apart from onetime
RBI said. After foreign shareholding in the bank had hit the
entry fees from new operators.
trigger limit for FIIs,
JULY-2014,VOL-I,ISSUE-II
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