Reliance Jio clears spectrum dues with £3m payment
Reliance Jio (RJIL) has paid Rs 30,791 (£3.03 million) towards clearing prepayment of deferred spectrum acquired before March 2021.
The payment was made to the Department of Telecom (DoT) in auctions for 2014, 205, 2016 and the spectrum acquired in 2021 through trading with Bharti Airtel.
The company said it has acquired 585.3MHz spectrum in the auctions and it would now save Rs 1,200 annually.
In a statement, the telco said: “RJIL has now prepaid in the month of January 2022, the entire deferred liabilities acquired in auctions in the year 2014 and 2015 as well as spectrum acquired through trading.”
After its latest payments, RJIL still has to pay Rs 37,184 crore for the spectrum it had purchased in March 2021.
RJIL had previously paid Rs 10,792 crore made last October, and Bharti Airtel paid Rs 15,519 crore in December meaning the government has now received over Rs 57.1 crore from the telecoms sector over the past year.
Bharti and debt-ridden Vodafone Idea have each accepted government offers to defer spectrum payments for four years.
Bharti owes Rs 74,000 crore to the DoT while Vodafone Idea owes Rs 1.09 lakh crore.