Blow to Mukesh Ambani as Reliance Jio loses 10.9 million subscribers due to...
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Reliance Jio had recently increased the prices of recharge plans. Its impact is now also evident in the company's user base. As a result, over 10.9 million customers have left Jio in the second quarter. The main reason behind this is that the price of recharge plans was increased. The decline does not appear to be a major concern for the company.
Jio's Average Revenue Per User (ARPU) rose from Rs 181.7 to Rs 195.1, while its 5G subscribers jumped from 130 million to 147 million. In addition, Jio's net profit increased to Rs 6,536 crore in spite of the decline in the overall number of users.
A recent report by OpenSignal highlighted Jio's dominance in three key areas: network speed, coverage, and consistency. The India Mobile Network Experience Report (October 2024) revealed that Jio's download speed reached an impressive 89.5 Mbps, far surpassing its competitors. Airtel followed with 44.2 Mbps, while Vi lagged at 16.9 Mbps. Jio's speed is more than double that of Airtel, making it the top choice for users seeking fast mobile internet for streaming, gaming, and others.
The reach of Jio's network goes well beyond speed. It still has extensive coverage in India, and even in the most distant areas, its services are available. Millions of Indians have been connected because of the telco's vast infrastructure, particularly in rural areas where dependable mobile connections are frequently limited.
With a network consistency score of 66.5%, Jio outperformed its competitors and provided a steady and uninterrupted experience for voice calls as well as data services. Whether conducting business meetings or streaming videos while on the go, this dependability is crucial to preserving a top-notch user experience.
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The Indian rupee fell past 85 to the US dollar for the first time on Thursday after the US Federal Reserve indicated a more measured pace of rate cuts, triggering uncertainty across financial markets.
The US cut interest rates by 25 basis points to bring down the Fed Funds rate to 4.25-4.50 per cent. The rupee was trading at 85.06 per dollar a little after 11am. The yield on the 10-year benchmark government bond rose by 4 basis points and was trading at 6.79 per cent.
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Amid the controversy surrounding Union Home Minister Amit Shah’s comments on BR Ambedkar, Rashtriya Janata Dal (RJD) leader Lalu Prasad Yadav criticised Shah, calling him “mad” and urging him to step down from politics.
Yadav’s remarks came in response to Shah’s comments during the Constitution debate in the Rajya Sabha on Tuesday, where the Home Minister claimed that it had become a ‘fashion’ for the Congress to invoke Ambedkar’s name.
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Retaliating against Finance Minister Nirmala Sitharaman's claim of having recovered assets worth Rs 14,131.6 crore, fugitive liquor baron and former member of parliament (MP), Vijay Mallya said on Wednesday that he is entitled to relief and that the agencies should legally justify how they have taken more than two times the debt he owed.
“The Debt Recovery Tribunal adjudged the Kingfisher Airlines (KFA) debt at Rs 6,203 crores including Rs 1,200 crores of interest.
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The Federal Reserve adjusted a key part of its rate control toolkit on Wednesday, lowering the rate it offers on its reverse repo facility by more than it cut the federal funds rate.
The Fed said that the reverse repo rate will now stand at 4.25% from its prior level of 4.55%, marking a 30 basis point easing, while it lowered the federal funds target rate range by a quarter percentage point to between 4.25% and 4.5%.
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Prime Minister Narendra Modi favoured detailed discussion at every level on the 'one nation, one election' bill and wanted it to be referred to a Joint Committee of Parliament, Home Minister Amit Shah said on Tuesday.
Shah made the remarks in Lok Sabha when the House was hearing objections to the introduction of the Constitution (129th Amendment) Bill that seeks to usher in simultaneous polls to the Lower House and state assemblies.
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