Reliance Jio today unveiled a 'Diwali Dhan Dhana Dhan' offer, promising 100 per cent cashback and locking-in of existing tariff benefits for consumers recharging with Rs 399 between October 12 and 18.

This pre-paid offer will work like an advance recharge, meaning subscribers opting for it can use the same after their ongoing validity expires. The offer which comes right ahead of Diwali and a day after Bharti Airtel's announcement of low-cost 4G smartphone with a bundled plan is set to generate more competitive heat in the telecom sector that has of late become a tariff battleground, especially after the entry of the new-comer Reliance Jio. HDFC Bank Ranked No 1, Jio At 11 In Top 50 Most Valuable Brands List

According to Jio sources, the recharge will lock in all the existing tariff benefits currently being offered under the Rs 399 plan, including 1GB of 4G data a day for 84 days, and free unlimited outgoing voice calls and SMSes as well as domestic roaming. The offer said the source, is for recharges between October 12 and 18, and a tariff plan revision is being planned from October 19. When contacted, the Jio spokesperson refused to comment.

Explaining the full cashback offer, the official who did not wish to be named, said Rs 400 cashback will come in the form of eight vouchers of Rs 50 denomination. Those can be used one at a time, after November 15, against future recharges of Rs 309 and above plans and data add-ons of Rs 91 and above. Bharti Airtel, India's biggest telecom firm with over 281 million subscribers, yesterday announced a tie-up with handset maker Karbonn Mobiles to bring a 4G smartphone at the price of the feature phone, a move aimed at taking on Reliance's 'free' JioPhone offer reports PTI. Reliance Jio To Offer Phone For Free; Announces New Cable TV Device

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