The bidding war for spectrum may turn into a damp squib: Yesterday saw six rounds of bidding from telcos including Bharti Airtel, Vodafone, Idea Cellular and Reliance Jio bidding for Rs. 3,261 crore worth of spectrum, a steep fall from Saturday's bds worth over Rs. 53,000 crore. The high reserve price for the airwaves, especially in 700MHz has resulted in telcos not bidding for that particular band, despite it being rated as the most efficient. 

The sales and price discounts available on Amazon, Flipkart and Snapdeal have again drawn the ire of offline retailers, who see the steep price cuts as hurting their own sales. They allege that the marketplaces are still violating new rules by requesting vendors to provide discounts; offline retailers are also miffed by the price structure and inventory advantages online retailers evidently have, enabling them to offer goods at lower margins. 

The Supreme Court has put Karnataka in the dock over the Cauvery issue, with the SC saying it will only hear its review plea once Karnataka complies with the Court's earlier order to release water to TN. Karnataka says its down to just drinking water supply, and the state legislature passed a resolution against further release of water, defying the orders of the Court. 

Analytics and data mining is what helped the Government identify black money holders, with just 15% coming forward voluntarily to disclose their wealth. Most of the rest came after the Income Tax department used data surveys and analytics to identify likely black money holders and approach them with the threat of prosecution. This suggests that attitudes towards tax compliance have not significantly changed, with people still attempting to evade the taxman as much as possible. 

Photo of the day: India clinch the series against NZ with win, and reclaim the Number 1 Test ranking. Firstpost