After Jio, Bharti Airtel announces 10-21 pc hike in mobile tariffs
Vodafone Idea to raise mobile tariff by 11-24 pc from Jul 4
New Delhi, Jun 28: Bharti Airtel on Friday announced between 10-21 per cent hike in mobile tariffs, a day after larger rival Reliance Jio announced an increase in rates.
Airtel, in a release, said that the revision in mobile tariffs will be effective from July 3.
"We have ensured that there is a very modest price increase (less than 70 paise per day) on entry-level plans, in order to eliminate any burden on budget challenged consumers," the Sunil Mittal-led telecom firm said announcing the revision in mobile tariffs.
Bharti Airtel said it has maintained that the mobile Average Revenue Per User (ARPU) needs to be upwards of Rs 300, to enable a financially healthy business model for telcos in India.
ALSO READ: Jio to raise mobile services rates by 12-27 pc from July 3, limits free 5G access
"We believe that this level of ARPU will enable the substantial investments required in network technology and spectrum and offer a modest return on capital," the telco said.
Among the unlimited voice plans, Airtel has raised tariffs in the ballpark range of about 11 per cent, and accordingly rates are revised from Rs 179 to Rs 199; from Rs 455 to Rs 509; and from Rs 1,799 to Rs 1,999. In the daily data plan category, the Rs 479 plan has been increased to Rs 579 (20.8 per cent increase).
The mobile tariff hike from mobile operators comes immediately after the 10th spectrum auction, which ended in just two days with muted response from the industry.
Loss-making telecom operator Vodafone Idea will raise mobile tariffs across the board by 11-24 per cent from July 4, according to a company statement.
Reliance Jio and Bharti Airtel will roll out increased mobile service rates from July 3 onward.
"In line with its commitment to provide its consumers with simple and comprehensive plans, Vi has curated an optimum range of feature-rich plans to meet the diverse needs of its consumers. Staying true to its philosophy of supporting entry-level users and progressively linking higher prices to increased usage, changes in entry-level plans are nominal," Vi said.
The company has raised the entry-level plan, minimum recharge value for 28 days of mobile service, by about 11 per cent to Rs 199 from Rs 179.
Vi has raised the price of a popular 84-day validity plan with 1.5 GB data per day to Rs 859 from Rs 719 earlier.
The company has increased the price of its annual unlimited plan by about 21 per cent to Rs 3,499 from 2,899 at present.
It has made no change in its 365 validity plan with a 24 GB data limit, which costs users Rs 1,799.
"Vi is planning significant investments over the next few quarters to further enhance the 4G experience as well as launch 5G services," the statement said.
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Binny Bansal steps down from board of PhonePe
New Delhi, Nov 22: Flipkart's co-founder Binny Bansal has stepped down from the board of PhonePe, the fintech company said on Friday.
PhonePe also announced the appointment of Manish Sabharwal as an Independent Director and Chair of its Audit Committee.
In this role, Sabharwal will be instrumental in upholding the integrity and effectiveness of PhonePe's financial reporting, internal controls, and risk management practices, he company said in a release.
"PhonePe also announced that Flipkart's co-founder, Binny Bansal has stepped down from its Board of Directors. Binny acquired PhonePe in 2016 and has been on its Board since then," the release said.
Commenting on the board rejig, Sameer Nigam, CEO and Founder of PhonePe said, "I would like to express my heartfelt gratitude to Binny Bansal for being one of PhonePe's earliest and staunchest supporters. His active engagement, strategic guidance, and personal mentorship have profoundly enriched our discussions. Binny will be missed!"
Nigam further said that Sabharwal's depth of understanding of India's macro economy, coupled with his leadership in shaping India's policies for education, employment, and employability will be invaluable as PhonePe continues to work ahead towards shared vision of a Viksit Bharat by 2047.
Sabharwal is Vice-Chairman of Teamlease Services, India's largest staffing and human capital firm.
Bansal played an instrumental role in Flipkart's acquisition of PhonePe way back in 2016 and had been on its board since then (the payments firm separated from Flipkart in 2022).
