Business Wednesday, October 15, 2008

Reliance Communications slashes call rates

From correspondents in Maharashtra, India, 10:30 PM IST

Prepaid subscribers of Reliance Communications (RCom) will now be able to make long distance calls at Re.1 and local calls at 50 paise.

The service comes under a new scheme called 'Life Time Jaadu Pack', launched here Wednesday by RCom, part of the the Reliance Anil Dhirubhai Ambani Group (R-ADAG)

RCom's wireless business president S.P. Shukla said the offer was available at a onetime recharge of Rs.550 for a life time term.

The R-ADAG currently has a net worth in excess of Rs.580 billion, cash flows of Rs.120 billion, net profit of Rs.80 billion and zero net debt.

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