RBI on call

In its latest recommendations on spectrum auctions, the Telecom Regulatory Authority of India wants the Department of Telecom (DoT) to consult the ministries of finance and law on various points of law and rules. This is standard, but the new point is that this time, DoT has also been told to seek the advice of the Reserve Bank of India (RBI), a reflection that the regulator is leaving nothing to chance. In the 170-page report, the Authority has highlighted the need for dialogue with RBI and the finance and law ministries on issues like safeguarding deferred payments by bidders, additional spectrum allocation, clearing funding roadblocks for telcos and revising the tax structure for the industry.