Reliance Jio || Reliance Jio Infocomm Limited has given Rs 30,691 crore in advance to the telecom department.

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#NewDelhi: Reliance Jio Infocomm Limited (RJIL) has announced that it has paid Rs 30,691 crore to the telecom department. The telecom department of India received the money from Reliance Jio Infocomm Limited for spectrum auctions in 2014, 2015, 2016 and 2021. Reliance Jio Infocomm Limited has announced that it has paid a hefty sum of money to the telecom department in the amount of Rs 30,691 crore. In that spectrum auction of 2014, 2015, 2016 and 2021, Reliance Jio Infocomm Limited acquired about 565.3 MHz spectrum.

In October 2021, Reliance Jio Infocomm Limited made a pre-payment to the Telecom Department. At that time, Reliance Geo Infocomm Limited made a pre-payment for the spectrum acquired in the 2016 spectrum auction. The Indian Telecom Department then decided that they would come up with a mechanism through which telecom companies could easily deposit their money. As a result, in January 2022, Reliance Jio Infocomm Limited paid a total of Rs. This includes the value of spectrum acquired in the 2014 and 2015 spectrum auctions.

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The remaining installments are from FY 2022-23 to FY 2034-35, with interest rates ranging from 9.30 per cent to 10 per cent. Reliance Jio Infocomm Limited will have to deposit this amount for all the spectra acquired at the spectrum auction. But Reliance Jio Infocomm Limited has said that if they continue to pre-pay the telecom department every year, it is possible to save about Rs 1,200 crore in interest every year.

Reliance Jio Infocomm Limited –

Reliance Geo Infocomm Limited is a subsidiary of Geo Platform Limited. Those who have brought high quality 4G network services at low prices in India. Geo Network has brought about a digital revolution in India. They were the first to introduce low cost advanced internet services in India. Geo Network has already started work to provide 5G and 6G services in India in the future. The goal of the Geo Network is to bring improved internet services to the homes of about 1.3 billion Indians.

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