The UIDAI had barred Bharti Airtel and Airtel Payments Bank from conducting Aadhaar-based verification of customers using the e-KYC process.
More than 23 lakh customers have reportedly received as much as Rs 47 crore in their Airtel bank accounts, which they did not even know had been opened.
India’s taxpayer has won in a war on corruption, but may well be losing an equivalent money again as a consumer, or likely, as a taxpayer.
The transaction will be done on a “debt-free cash-free” basis, the companies said in their joint statement. It will give Bharti an additional 40 million subscribers.
Jio’s Prime plan is a critical component of the company’s push to start charging its customers after starting operations in September with free data and calls.
India’s MNCs must learn to take it slowly in small bites and avoid being swept along by a desire for size rather than precise business logic.
How the CAG quantified its estimate of the “undue benefits” Airtel received by misreporting revenues.
A draft CAG report alleges the government helped India’s largest telecom company obtain “undue benefits”, which we estimate to be around Rs 14,500 crore, by miscalculating revenues and nepotism in spectrum allocation. Airtel also gained Rs 44,000 crore through questionable corporate restructuring