Business News Update; share market, gold silver, petrol diesel, 5g spectrum auction, telecom act 2023 | Now users will not be able to take more than 9 SIM cards: Auction for 5G spectrum ends, stock market made all-time high for the second consecutive day

Yesterday’s big news was related to Telecommunication Act. The new ‘Telecommunications Act 2023’ has come into force in the country from June 26. Now no citizen of India will be able to get more than 9 SIM cards in his lifetime. The auction of 5G spectrum for mobile services, which started on June 25, has ended today. The government has earned an income of about Rs 11,340 crore from this auction, which lasted for 2 days and 7 rounds.

Before tomorrow’s big news, today’s major events to keep an eye on…

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1. 50 lakh fine if SIM is purchased wrongly: 3 years imprisonment can be imposed; What changed with the new telecom law, know everything

The new ‘Telecommunications Act 2023’ has come into force in the country from June 26. Now no citizen of India will be able to get more than 9 SIM cards in his lifetime. If you buy more SIM than this then you will be fined. Getting a SIM by wrong means will attract 3 years of jail and a fine of up to Rs 50 lakh.

The new law allows the government to take over or suspend any telecom service or network and management for national security reasons. If needed in a war-like situation, the government will be able to intercept messages on the telecom network.

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2. Auction for 5G spectrum ends: Airtel made the highest bid of ₹ 6,857 crore, government will get ₹ 11,340 crore from companies in 10 days

The auction of 5G spectrum for mobile services, which started on June 25, has ended today. The government has earned an income of about Rs 11,340 crore from this auction, which lasted for 2 days and 7 rounds. Now telecom companies will have to deposit this amount to the government within 10 days.

In the auction, the government had put a total spectrum of 10,522 MHz for auction at a base price of Rs 96,317.65 crore. Out of this, the government has received bids for a total of 131 MHz spectrum. Its validity will be 20 years.

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3. Sensex closed at record level of 78,674 and Nifty 23,868: DEE Development Engineers shares rose 65%, energy and banking shares rose.

The stock market has made an all-time high for the second consecutive day on June 26. The Sensex closed at a record level of 78,674 with a gain of 620 points. At the same time, Nifty also rose by 147 points. It closed at a record level of 23,868.

Earlier today during trading, Sensex touched the level of 78,759 and Nifty touched the level of 23,889. Yesterday i.e. on 25th June also Sensex and Nifty had made all time high. Today there has been a rise in energy and banking shares.

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4. SBI raised ₹10,000 crore fund from 15-year infrastructure bond: The bank will raise ₹25,073 crore in FY 2025, SBI had raised ₹5,000 crore in January

State Bank of India i.e. SBI has raised funds of Rs 10,000 crore through 15-year infrastructure bonds. With this, SBI will provide funds to projects in sectors like power and roads. The coupon rate for the bond has been fixed at 7.36%.

The issue has received subscription almost four times the base issue size of Rs 5,000 crore. Earlier, SBI had placed a 15-year infrastructure bond in September 2023 at a coupon of 7.49% and raised Rs 10,000 crore.

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5. Hyundai-India is giving ₹334 crore to banks for advising-IPO: Becomes the second big company paying the highest fees to banks, Paytm is at number one.

Hyundai Motor India, the Indian unit of South Korean company Hyundai, is preparing to launch the biggest ever initial public offering i.e. IPO in the Indian market. According to reports, the company is paying a fee of 40 million dollars i.e. Rs 334 crore to the banks giving advice for this IPO.

According to reports, this will be the second highest ever fee for advising banks working on an IPO in India. Sources said that 1.3% of the size of the IPO will be paid to the banks providing advice to Hyundai India, including JP Morgan, Citigroup and HSBC.

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6. Reliance Retail will now deliver goods within 1 hour: Pilot project started in some areas of Mumbai, currently it takes 12 hours

Reliance Retail has started a pilot project for instant delivery of groceries and fast moving consumer goods (FMCG) in certain areas of Mumbai and Navi Mumbai. The company has started delivering orders within an hour. Economics Time has given this information in one of its reports.

‘Hyperlocal Delivery’ option has been provided in the JioMart mobile application for fast-delivery service. Reliance wants to reduce order delivery time to 30 to 45 minutes. However, no information about any such pilot project has been given officially by the company.

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Now read the news you need

Loan facility is available on Post Office RD: Loan will be available at low interest, know what are the rules regarding this

You can easily create a big fund by investing in Post Office Recurring Deposit (RD). You keep putting a fixed amount in it every month and when it matures after 5 years, you will have a huge amount in your hand.

Not only this, if you need money in between, you can also take a loan against RD without breaking it. In this, loan is available at lower interest compared to personal loan. Here we are telling you about the terms and conditions of taking loan against post office RD.

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