The Union Government proposes to allow one private operator in each telecom circle in addition to the Department of Telecommunications (DoT) to run the basic telephone services. According to the entry guidelines to be announced in a fortnight from now, the Ministry of Communications will float tenders inviting the registered Indian companies to run the basic services. Besides, it also proposes to set up an independent regulatory authority in the telecom sector, which will be outside the purview of the DoT.

In an exclusive interview to Business Line , the Minister of State for Communications, Mr. Sukh Ram, said that the Telecom Commission would float fresh tenders inviting bids from the companies registered in India who may also have a foreign collaboration. Once the guidelines were issued the new telecom policy announced on May 13 will become effective.

Ahluwalia meets RBI Governor on fraud issue

The Union Finance Secretary, Dr. Montek Singh Ahluwalia, on Friday met the RBI governor, Dr. C. Rangarajan, in the wake of the reported embezzlement of an estimated Rs. 200 crores by three RBI employees. Bank officials said Mr. Ahluwalia and Dr. Rangarajan discussed issues related to banking operations and the capital markets, with particular reference to the recent guidelines on preferential shares and the close supervision of banks to avoid malpractices. Meanwhile, with the arrest of two RBI employees, the CBI has busted a racket of fraudulent tampering of cheques presented for clearance and siphoning off huge amounts by operators employed at the National Clearing Cell of the RBI.

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