After Government validated Rs 500 notes for pre-paid mobile recharges last week, COAI (The Cellular Operators Association of India) has today released a statement thanking Hon’ble Prime Minister Narendra Modi. COAI mentions that the decision has helped people enjoy mobile services without any disruption or hindrance.
Complementing this move by Government, COAI Director General Rajan Mathews said – “We are delighted that the Government acceded to our request prioritizing consumer interest, so that citizens can continue to top-up and use mobile phones, which are an essential service. COAI thanks the Prime Minister Shri Narendra Modi for leading an extremely responsive and sensitive government and congratulates the Prime Minister on this historic move.”
COAI claims that demonetization brought down the industry estimates by 30%-50% as customers were struggling to spend cash which they had before demonetization. Keeping this in mind, COAI on behalf of the telecom service providers had submitted to the government that dealers and distributors should be permitted to accept the old Rs500 and Rs1,000 notes till adequate replacement currency is available for the daily needs of ordinary citizens. To which Government reacted positively and extended the deadline for the acceptance of 500 rupee notes (and not Rs 1000 notes) as legal tender for recharging prepaid phones.
Closing the press release, COAI appreciated Prime Miniter’s move to fight black money and efforts to make India a cash-less digital country.