Business News

Mukesh Ambani says Jio reached 100 million subscribers in 170 days, announces Prime membership offer

Domestic voice calls to any network will continue to remain free.

Reliance Industries Chairperson Mukesh Ambani on Tuesday said Jio had reached 100 million subscribers in 170 days. “This is an unprecedented level of acceptance for any technology company anywhere,” he said. As its New Year offer comes to an end in March, Ambani announced several benefits for the existing customers.

Ambani announced that a new Jio Prime offer will kick-in soon after the New Year offer ends. Existing Jio members and those who will subscribe before March 31 will be eligible for Jio prime membership at a cost of Rs 99. Prime members will be able to continue using Jio New Year offer at Rs 303 per month for until March 2018. Users can subscribe to prime membership from March 1.

Domestic voice calls to any network will continue to remain free. “There will be no roaming charges, no hidden charges and no blackout days,” he said.

Jio has added an average of nearly seven customers on its network every second of every day, said Ambani. “Jio users consumed more than a 100 crore GB of data per month on the Jio network. That’s more than 3.3 crore GB a day,” Ambani claimed, adding that it “conceived to be a steadfast partner in our digital transformation”. Ambani also said lakhs of customers have done mobile number portability and had moved to Jio. “I hope more customers will choose Jio and make it their permanent home,” he said.

Ambani said India has now become the No. 1 country in the world for mobile data usage and added that in the coming months, the company will double its data capacity. By the end of 2017, Jio will be present in every village of the country, Ambani added.

We welcome your comments at letters@scroll.in.
Sponsored Content BY 

Thought leaders and finance industry experts come together to create leaders of tomorrow

An exclusive course gives a select group of eight enterprising individuals a unique opportunity.

Moving from a mid-level to a leadership role is more than just a designation change. It is a transition that requires the development of key leadership skills including a larger overview of the industry one is a part of. According to an HBR study, as top executives make the transition to occupy leadership roles, having a strategic perspective of an industry is critical to becoming a good leader.

Especially when it comes to the world of finance, this strategic perspective is all the more important given the increasing volatility in the global economy due to political and economic developments. This is evidenced in the fact that in 2016, the global economy expanded only by 2.3%, down from 2.7% in 2015. Shifts in global economic power, technological breakthroughs and demographic and social change are major factors that influence financial policies and regulations.

To help keep the finance industry professionals ahead of the curve in the face of such challenges, Standard Chartered has partnered with Chevening, a UK based organisation, to create the Chevening - Standard Chartered Financial Services Fellowship. This programme focuses on industry insights, knowledge sharing and provides exposure to the workings of the international financial markets. Eight professionals from across various disciplines and industries with potential to become leaders in the financial industry have been selected to be a part of the exclusive course. The tailor-made programme, which will be conducted at King’s College, London, will focus on specialist skills such as risk-management, actuarial sciences, financial regulation and aims to deliver these through a holistic approach.

International Exposure

Immediately after British voters decided to leave the EU, the British pound suffered a 7.6% drop against the dollar. This seismic pound-dollar move caused by geo-political uncertainty is one of the many examples that highlights the importance of having a thorough understanding of how global developments can impact economies. The programme is designed to familiarise participants with the impact of such large-scale movements. While the focus is on examining regulatory and organisational implications of Brexit for the finance industry, the course also includes a study of EU’s financial architecture in the post-Brexit world. Course participants will visit the trading floors of major banks in Canary Wharf, the London Stock Exchange, and travel to The European Commission in Brussels and the European Securities and Markets Authority (ESMA) in Paris. With several companies operating across international boundaries, the experiences provided in this course will enrich them with an in-depth understanding of finance from an international perspective.

Networking with experts

The participants will have numerous opportunities to interact with experts from the Brexit Department; lawmakers, and regulators from the EU and experts from leading financial institutions. These networking opportunities are built in throughout the duration of the course, to enable the sharing of knowledge and industry insights.

Innovation and disruption

Almost all aspects of finance – from retail banking to investments – are being reimagined by digital breakthroughs.
For instance, a recent report by Santander, Oliver Wyman and Anthemis estimated that blockchain technology could cut banks’ infrastructure costs for cross-border payments, securities trading and regulatory compliance by $15bn-$20bn a year from 2022. The course includes such modules that focuses on emerging financial innovations such as crowd-funding and blockchain and examines the ways in which they are disrupting the financial world. It aims to equip the participants with the ability to navigate the fast-evolving digital ecosystem.

The fellowship includes lectures by some illustrious faculty members of King’s College such as Dr. Leone Leonida, Co- Director MSc in Banking and Finance, who has published studies on Early Warning Systems and Banking crisis in low-income countries; Professor George Kapetanios, a published authority in econometrics and finance; Professor Jan Dalhuisen, whose research interest lies in International finance; and Professor Takis Tridimas, an authority on economic and monetary union and banking law. Bringing insights from a wide spectrum of financial and economic applications, the faculty will guide the course participants through the eight-week course and impart knowledge to develop the financial leaders of tomorrow.

Standard Chartered’s partnership with the UK government to deliver a holistic financial services leadership programme is part of their commitment to strengthen the global finance community by identifying and training future leaders of the industry. With a 150-year history in some of the world’s most dynamic markets, Standard Chartered, through its partnership with Chevening, aims to facilitate skill development and provide a platform to encourage cross-border engagement and learning. On completion of the fellowship, the participants will return to their respective professions with knowledge and skills that will enable them to further advance their organisation as well as the industry at large.

For more information on the Chevening-Standard Chartered Financial Services fellowship, see here.

This article was produced by the Scroll marketing team on behalf of Standard Chartered and Chevening and not by the Scroll editorial team.