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Prepaid users go slow, telco revenues hit

Analysts indicated the telecom sector is likely to see greater pain in the coming weeks, as a fallout of demonetisation

The Jio effect

Lakshmi Gupta, a 35-year-old shopkeeper in the New Delhi’s Connaught Place, is not so busy these days. A fortnight after Prime Minister Narendra Modi banned big currency notes, Gupta, like many others who sell prepaid mobile phone recharge cards, continues to see the business slide. Estimates suggest pre-paid users make up for around 90 to 95 per cent of the one-billion-plus mobile base in the country, and the sale of recharge cards is down by at least half in two weeks as consumers check their discretionary spend after demonetisation.       Largest ...