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Expansion
The auction process for 5G spectrum will begin from Tuesday. Four companies including Reliance Jio and Bharti Airtel will bid. During this, bids will be held for 72 GHz spectrum worth Rs 4.3 lakh crore.
The bidding process will start from 10 am on Tuesday and will go on till 6 pm. DoT sources said, the number of days the auction process goes on will depend on the bids and the strategy of the bidders.
International Bullion Exchange to be launched on PM 29
Prime Minister Narendra Modi will launch the country’s first international bullion exchange on July 29 at GIFT City in Gujarat. He will also lay the foundation stone for the headquarters building of the International Financial Services Center Authority.
The exchange will do other things besides speeding up the financialization of gold. Will fulfill the government’s commitment to enable India as a major customer to influence global bullion prices.
14.93 lakh members associated with ESIC
14.93 lakh new members have joined ESIC’s social security scheme in May. In 2021-22, the total number of members increased to 1.49 crores. In the previous year it was 1.15 crores. 1.51 crore in 2019-20 and 1.49 crore in 2018-19.
Axis Bank net profit up 86 per cent
Axis Bank’s net profit jumped 86 per cent to Rs 4,380.59 crore. Net profit has increased due to reduction in bad loans. On the other hand, Canara Bank’s profit increased by 72% to Rs 2,022 crore. The profit of the central bank rose 14.2 per cent to Rs 234 crore.
Tata Steel’s profit down 21 per cent to Rs 7,714 crore
Tata Steel’s profit declined 21 per cent to Rs 7,714 crore in the first quarter of the current financial year, ie April-June. There was a profit of 9,768 crore in the same quarter of 2021-21.