New Delhi: Telecom Major Reliance Jio on Wednesday said he had paid Rs 30,791 Crore, including flowers that still had to be paid, to the Telecom Department (DOT) to delete the payment obligation for the spectrum obtained before the auction in March 2021.
Payment included liabilities related to the spectrum obtained at the 2014, 2015 and 2016 auctions and the spectrum obtained in 2021, through trade rights to use with Bharti Airtel, said the company.
It has acquired a 585.3MHz spectrum through this auction and trade.
“The company estimates that payments in advance will produce interest cost savings around Rs 1,200 Crore every year, at the current interest rate,” the next statement was added.
With this payment, Reliance Jio has chosen out of the option provided by the government to telecommunications operators to take advantage of the four-year moratorium.