It added that for the first time in its history, the mobile industry is trending towards an annual revenue decline of about 2% on year in FY17.
The complaint by Jio alleged that the incumbents had formed a cartel against it and not provided adequate PoIs required for calls to go through to other networks.
Airtel said the percentage of users leaving the network narrowed to 3.6 per cent from 4.1 per cent in the October-December period due to competitive pressures.
The state-owned miner’s fund currently manages about Rs 13,000 crore and provides pensions to some 3 lakh retired Coal India employees.
The court dismissed RBI’s intervention after the central bank failed to back its opposition to the transaction on grounds that it would amount to a transfer of shares in violation of the law.
Rajan, 54, will replace Animesh Kumar, the former head of the bank’s human resource division. He will also be the chief executive of the IDFC Foundation.
The industry, grappling with a debt of Rs 4.9 lakh crore, may offer increments that are even below the average hike of 9.5% that India Inc is expected to give.
The tactic would lead to pressure on the average revenue per user (ARPU) of incumbent operators, US bank Morgan Stanley said in a report.
Until a few years ago, international roaming was based on pay-as-you-go rates and as overseas travel increased, operators stared introducing cheaper packages.
India’s largest telcos allege that Trai violated its own rules by allowing Jio to offer successive promotional offers after starting services in September.
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