In order to deter non-serious applicants from "crowding the electronic media landscape", the government today decided to increase the net worth criteria for those seeking permission to run TV channels in the country.
The Union Cabinet cleared an I&B Ministry proposal as per which the net worth criteria for uplinking of 'Non-News and current affairs' channels and downlinking of foreign channels has been revised from Rs 1.5 crore to Rs 5 crore for the first channel.
Companies will have to show an additional net worth of Rs 2.5 crore for each additional channel, an official release said.
For uplinking of 'News and Current Affairs' channels the net worth has been increased from Rs 3 crore to Rs 20 crore for the first channel and Rs 5 crore for each additional channel.
Companies would henceforth be required to operationalize new TV channels within a time frame of one year from the date of permission, the release said.
In the event of non-operationalisation of the permitted channel within a year, the Performance Bank Guarantee (PBG) will be forfeited and permission cancelled.
For non-news and current affairs channels, companies will have to sign a PBG of Rs 1 crore whereas news and current affairs channels will have to pledge a PBG for Rs 2 crore.
Aspiring companies should also have at least one person occupying a top management position like Chairperson, CEO or COO with a minimum 3 years media experience to seek permission for a new channel.
