Briefly Business: EGoM to meet on June 5 for spectrum base pricehttps://indianexpress.com/article/news-archive/web/briefly-business-egom-to-meet-on-june-5-for-spectrum-base-price/

Briefly Business: EGoM to meet on June 5 for spectrum base price

EGoM to meet on June 5 for spectrum base price

EGoM to meet on June 5 for spectrum base price

New Delhi: An Empowered Group of Ministers will meet on June 5 to decide on the base price for the much-awaited auction of telecom spectrum,” Department of Telecom Secretary R Chandrashekhar told reporters here.

Cyrus Mistry meets Sibal on Trai’s auction

New Delhi:Amidst industry chorus against TRAI’s recommendations on auction of scarce spectrum,Tata Group chairman-designate Cyrus Mistry and Tata Teleservices MD Srinath Narasimhan called on Telecom Minister Kapil Sibal to discuss issues facing the sector.

SR Rao appointed new Commerce Secretary

NEW DELHi: Senior IAS officer SR Rao has been appointed as the new commerce secretary. Rao,a 1975-batch officer of the Gujarat cadre,is currently special secretary in the Department of Telecommunications.

RBI eases banks’ term deposit restrictions

mumbai: The RBI has removed restrictions on banks which prevented them from levying penalty on foreclosure of some term deposits. In a notification,RBI said banks can formulate their own interest rate policies on foreclosure of term deposits for better asset-liability management.

RBI and bank branches to collect advance IT

mumbai: The RBI and 926 branches of public and private banks will accept advance tax in Mumbai and Navi Mumbai to avoid inconveniencing tax assesses,RBI said on Monday.

Greek banks given 18 bn euros in fresh funds

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Athens: The four biggest Greek banks received 18 billion euros in rescue funds today to help reinforce their capital bases. “The order to pay the banks has been made,this completes the process,” Hellenic financial stability fund source told AFP on condition of anonymity.