Seven takeways from Reliance AGM

Reliance Industries held its 46th Annual General meeting on Monday.

The following are the key takeways from the meeting:

1. Reliance Industries Limited (RIL) will launch Jio Air Fiber on occasion of Ganesh Chaturthi on September 19, 2023. With Jio Air Fiber, people can use WiFi at home without use of any wires. Routers will not need support of wires to provide WiFi at home. Jio Air Fibre will provide wifi service on 5G connectivity only.

2. 4G prepaid plans on Jio Bharat feature phones are 30 per cent cheaper than other those available with other feature phones. There are two prepaid plans available on Jio Bharat feature phone. One is of Rs 123 and other of Rs 179. The feature phone is priced at Rs 999

3. People can use UPI to scan QR code and make payments up to a limit of Rs 500 at a time via Jio Bharat feature phones without internet connectivity. People can watch more than 450 live TV channels, listen to songs on Jio Saavn all on Jio Bharat feature phone. Currently, there are 25 crore 2G feature phones in the market. Reliance aims to shift all the feature phone users to 4G supporting Jio Bharat phone.

4. Free streaming of IPL on Jio Cinema made it the most watched digital event in the world. Over 45 crore viewers watched IPL 2023 worldwide which is the highest for any digital event.

5. RIL will announce Reliance Retail IPO in due course. Lots of global investors are interested in investing in the retail arm of the Reliance group.

6. With partnership with world’s largest AMC, Blackrock, Jio Financial Services will launch affordable mutual fund plans to retail investors. It will have a digital first approach to financial inclusion.

7. Mukesh Ambani’s wife Nita Ambani has stepped down from RIL’s board. Children, Akash Ambani and Isha Ambani join the conglomerate’s board upon shareholder approval.