Airtel Payments Bank on Monday announced that customers with savings account deposits of over Rs 1 lakh will get an increased interest rate of 6 per cent per annum.
The move follows Airtel Payments Bank becoming the first payments bank to implement an enhanced day-end savings limit of Rs 2 lakh, as per the Reserve Bank of India guidelines.
The agency pointed out that there is a close contest between the top two telcos, when one goes by active subscriber base with Jio’s share at 33.7 per cent and Airtel’s at 33.6 per cent.
DoT explained that the harmonisation exercise facilitates more efficient utilisation of spectrum held by operators, leading to improved quality of service for consumers.
Mittal said that India will be a force in the next 5-10 years as a major economy, building its success on industrial upliftment, digital upliftment and self-reliance.
According to the firm, the plan involves Airtel Digital Limited being folded into the listed Bharti Airtel Ltd so far, the vehicle for the group’s communications business.
According to a statement from the companies, the agreement will see Jio acquire a portion of spectrum in the 800 MHz band in these circles at an aggregate value of Rs 1,497 crore.
This marks the first such deal between the two telecom giants.
Under the collaboration, Airtel Platinum and Gold customers will get complimentary membership to Apollo Circle.
Mastercard would hold a minority stake in AMC BV on completion of the deal, with Airtel Africa continuing to hold the majority stake, an Airtel statement said.
According to a stock exchange filing made by Airtel on Wednesday, it has been empanelled by the Computer Emergency Response Team (CERT-IN).
Among those who are active in the space, the Tata group and Airtel both have a greater focus toward larger enterprises, with the former not present in the MSME space at all.
DoT sources told PTI that the demand notes will be sent out to the three companies this week, and entails largely the upfront payment for spectrum that is ready to be allocated.
Telecom spectrum was auctioned after a gap of five years, but it didn’t fetch a fortune.
Jio walked away with the lion’s share of winning bids worth Rs 57,122 crore. The expensive 700 MHz and 2,500 MHz band did not attract any buyers.