Indian government wants to strengthen digital governance – News

The transition to high-speed 5G telephony is about to begin with the spectrum auction that the government has authorized up to 72,000 MHz of mobile waves.

Reuters file photo

By HP Ranina

Published: Sun, Jul 3, 2022, 3:37 PM

Last update: Sun, Jul 3, 2022, 3:40 PM

Is there a prospect of 5G telephony coming to India in the near future? Some questions were raised in this regard earlier.

The transition to high-speed 5G telephony is about to begin with the spectrum auction that the government has authorized up to 72,000 MHz of mobile waves. This is the largest quantity sold, which will add new frequencies and bands in line with international trends.

The auction is scheduled for July 26, and the set reserve price is around ₹4.3 trillion. This will introduce a new generation of mobile telephony that will be needed for machine-to-machine (M2M) communications, smart factories, autonomous driving, remote surgeries, as well as the Internet of Things (IoT). It will also bring huge benefits to the agriculture and education sectors. The Indian government is keen to strengthen digital governance. Rules and guidelines are being developed that would apply to those who succeed in the auction. Successful bidders will have the option to return the spectrum after ten years without any future liability. No spectrum usage fee is offered on the airwaves acquired through this auction.

Some of my friends had recently booked plane tickets and made hotel reservations on some websites. After paying the money, they found that their tickets had been canceled and hotel reservations had not been made. Are these frauds happening more and more in India?

Unfortunately, with the growth of the travel and hospitality industry due to pent-up demand, “holiday scams” ​​are increasing not just in India, but across the globe. According to a US rating agency, the percentage of suspected digital fraud in the travel and leisure industry has increased by 68% worldwide. Fraudsters register on certain websites and contact potential customers, offering huge discounts on airfares and hotel costs. After receiving the money from the customers, the scammers disappear and disconnect their cell phones. These people operate fake travel websites and clone popular apps. Many of these criminals use stolen or hacked credit card details to purchase airline tickets which are first sent to unsuspecting customers and then cancelled. It is therefore advisable to buy airline tickets directly from the airline itself and on websites with secure payment systems. The cybercrime branch of the police is constantly tracking these fraudsters, but customers themselves should take precautions by booking preferably on the official websites of airlines and hotels.

Can Indian mutual fund companies invest in international markets? I feel like they are not allowed to do that.

Your impression is correct. In January this year, after the $7 billion limit was breached, the regulator, Securities & Exchange Board of India, ordered Indian fund companies to stop investing in stocks and bonds listed on stock exchanges. international scholarships. However, the recent sell-off in global equity markets has caused the value of international stocks and bonds to plummet. This in turn has reduced the overall value of investments made overseas by all Indian fund houses. In light of this development, SEBI has recently allowed mutual fund companies to once again invest in international markets. This is subject to the $7 billion aggregate industry-wide limit. In short, with the decline in value, SEBI allowed Indian mutual fund companies to invest up to the unused limit. Exchange-traded funds have an additional limit of $1 billion. It should be noted that these limits set by SEBI are in line with the investment limits set for mutual funds by the Reserve Bank of India under the provisions of the Foreign Exchange Management Act.

HP Ranina is a practicing lawyer, specializing in tax management and foreign exchange laws of India.

About Tammy N. McFarlane

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