CURRENT AFFAIRS

Detailed explanation-1: -Reliance Communications on Monday said it has completed sale of its fibre assets and related infrastructure assets, worth Rs 30 billion, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

Detailed explanation-2: -Reliance spent almost $50 billion to build Reliance Jio, which became India’s No.

Detailed explanation-3: -Jio deposited Rs 3, 500 crore in an SBI escrow account to complete the acquisition of RCOM’s tower and fibre assets. The acquisition was completed after a delay of two years, after creditors for RITL stalled the process by engaging in a legal battle over the distribution of resolution funds.

Detailed explanation-4: -The spectrum was acquired across 13 circles and is currently being used by Jio to provide 4G services. In addition, Jio is sharing spectrum with RCom in 15 circles. As such, a total of 58.75 Mhz spectrum from RCom in the 800 Mhz band is currently being used by Jio.

Detailed explanation-5: -Jio, with 36 per cent market share, is the number one player in the segment. The growth has been led by Jio’s disruptive pricing, innovation and investments. After it began operations, it offered free data and voice calls for the first six months.