Telecom merger and acquisition policy likely by 15 October: Sibal
21 Sep 2013 10:25 PM GMT
The long-awaited merger and acquisition policy for telecom companies is expected to be in place by 15 October, Telecom Minister Kapil Sibal said on Friday.
'M&A guidelines... in fact I wanted them to be in place by 15th of September but could not be done. I want to commit that these must be done by 15 October,' Sibal said during his interaction at Indian Women's Press Corps. Telecom operators have been waiting for long to see the final guidelines of merger and acquisition (M&A).
The Department of Telecom has plans to meet industry before releasing the final guidelines.
The department had also scheduled a meeting early this week but for some unknown reasons it was deferred. Talking about his immediate priorities at Ministry of Communications and Information Technology, Sibal said that his top priority is getting Post Banks started in rural area.
'Something that is very close to my heart is to get post bank in place for rural India. All my post offices should also function as banks. I think we will be able to serve the rural economy and rural folk much better,' Sibal said.
The Department of Posts has applied for banking licence.
The approval of banking licence for DoP by Reserve bank of India is expected to about triple bank branches in the country. The minister said that his second priority is to ensure that 'next auction is not just successful but phenomenally successful'.
'M&A guidelines... in fact I wanted them to be in place by 15th of September but could not be done. I want to commit that these must be done by 15 October,' Sibal said during his interaction at Indian Women's Press Corps. Telecom operators have been waiting for long to see the final guidelines of merger and acquisition (M&A).
The Department of Telecom has plans to meet industry before releasing the final guidelines.
The department had also scheduled a meeting early this week but for some unknown reasons it was deferred. Talking about his immediate priorities at Ministry of Communications and Information Technology, Sibal said that his top priority is getting Post Banks started in rural area.
'Something that is very close to my heart is to get post bank in place for rural India. All my post offices should also function as banks. I think we will be able to serve the rural economy and rural folk much better,' Sibal said.
The Department of Posts has applied for banking licence.
The approval of banking licence for DoP by Reserve bank of India is expected to about triple bank branches in the country. The minister said that his second priority is to ensure that 'next auction is not just successful but phenomenally successful'.
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