India Business News: Reliance Jio Infocomm, the telecom unit of Indian conglomerate Reliance Industries, broke a four-quarter streak of slowing profit growth on Friday, helped by subscriber additions, partly after the recent launch of a 4G budget-friendly phone. Jio, India's biggest telecom operator by number of subscribers, said its net profit rose 12.3% year-over-year to 52.08 billion rupees (about $627 million) in the third quarter ended Dec. 31, according to an exchange filing. Revenue from operations climbed 10.3%, snapping five straight quarters of slowing growth.
DoT has issued an advisory for citizens asking them to not dial 401# followed by unknown mobile number due to potential cyber fraud. Scamsters pretend to be telecom operator representatives and ask users to dial 401# followed by a mobile number. The government has been stepping up its efforts to check online financial fraud.
"We submit the details of notice received by the company from the Department of Telecommunications," Airtel said, informing about the "notice imposing a penalty of Rs 3,57,000 for alleged violation of subscriber verification norms".
Telecom department for an alleged violation of subscriber verification norms has sent a notice to Bharti Airtel. The company said the notice is in regards to an alleged violation of terms and conditions with respect to subscriber verification norms under the Licence Agreement, pursuant to a sample customer application form (CAF) audit conducted by the Department of Telecom for September 2023.