Why has Reliance Jio paid Rs.30,800 crore for spectrum charges?
Answer
Answer
Reliance Jio prepaid Rs.30,791 crore to clear all deferred liabilities for spectrum that it had acquired in auctions before March 2021. Reliance Jio had acquired 585.3 MHz spectrum via auctions and trading, payable annually between FY23 and FY35. However, these carried interest cost of 9.30% to 10% and now annual interest savings will be of Rs.1,200 crore.