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TRAI should reconsider Spectrum Trading, says DoT
NEW DELHI: A Department of Telecommunications (DoT) committee has for the present turned down any proposal to permit spectrum trading.
In a report to the Telecom Commission, this Committee has however admitted that this finds place in the National Telecom Policy (2012). It has said there is need for a more holistic view on the matter to prevent ‘some unintended consequences’.
It feels that the Telecom Regulatory Authority of India (TRAI) should be asked to give a detailed recommendation in this regard. At present, only right-to-usage of spectrum is auctioned and the legal framework under which it can be treated as transferable and tradable in whole or part needs to be prepared, the Committee added.
According to the report, any Presidential Reference on this issue should be in conformity with the Supreme Court order in the 2G spectrum allocation case.
The Committee says there is need for assessment of market sale of spectrum. This would assume more importance in merger and acquisition (M&A) cases, for assessment of the fair value of spectrum, where the entire business might be taken over as a going concern along with the spectrum, without separate determination of the price. It should also have provisions to curb fly-by-night operators entering for only trading benefits.
Earlier, the DoT had sought TRAI’s views on the conditions and timing for allowing trading of what got through auction, the quantity for trading by an operator, revenue payable and the legal, regulatory and technical framework. This followed a recommendation by Planning Commission Deputy Chairman Montek Singh Ahluwalia to Communications and Information Technology minister Kapil Sibal to allow trading of spectrum. The matter was also discussed in a meeting of the Empowered Group of Ministers (EGoM) on telecom headed by Finance Minister P Chidambaram.
The DoT committee has said TRAI should reconsider sharing of spectrum. Guidelines are to be finalised for the sharing of spectrum in accordance with the TRAI suggestion on a spectrum management and licencing framework. However, the present recommendation for a flat spectrum usage charge would impact the previous recommendation, it felt.
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JioFinance rolls out multi-bank fixed deposit platform
Users can compare, invest and track fixed deposits across issuers in one place
MUMBAI: The JioFinance app has launched a unified platform allowing users to compare, invest in and track fixed deposits offered by multiple banks and non-banking financial companies, sharpening its push to become a one-stop destination for digital financial services.
The new feature aggregates fixed deposits from a range of issuers, including small finance banks and NBFCs, enabling customers to filter options by interest rate and tenure and complete the entire investment journey digitally.
Interest rates on the platform go up to 8.15 per cent per annum, with users able to view tenure, tax treatment, lock-in conditions and premature withdrawal terms before investing. Once booked, deposits can be monitored through a consolidated dashboard that tracks returns, maturity dates and renewal reminders.
Jio Finance Platform and Service Limited chief executive officer Surbhe S Sharma, said the offering addresses a long-standing pain point for savers, who often struggle to compare issuers and manage deposits spread across institutions.
Fixed deposits remain one of India’s most popular savings products, and the company is betting that transparency and ease of use will draw users seeking stable, low-risk returns.
The FD marketplace on the JioFinance app is powered by Blostem Fintech Private Limited, which operates as a business correspondent and technical service provider to partner banks and NBFCs.
