NEW DELHI: The Union Cabinet on Thursday approved auctions in eight spectrum bands for mobile phone services at a base price of Rs 96,317.65 crore.

Spectrum, held by certain companies undergoing insolvency process, that are expiring this year, will also be put on auction.

"All the available spectrum in 800, 900, 1800, 2100, 2300, 2500, 3300 MHz and 26 GHz bands will be put on auction.

"As recommended by TRAI, the reserve prices for various bands have been revised using suitable indexation," an official statement said.

The reserve price will be Rs 96,317.65 crore.