Reliance Jio Happy New Year offer: 100% cashback and other detailsDec 29 (AZINS) Reliance Jio has announced a brand new offer for its customers. Under Reliance Jio's Happy new Year offer customers will get 100% cashback among other things. The new Happy New year pack comes with a recharge of Rs 399.

Reliance Jio claims that it is giving the Happy New Year offer on the Rs 399 plan as the plan is its highest-selling plan.

According to Reliance Jio's website, subscribers who during the subsistence of the offer, performs the recharge on or after December 28, 2018, will be entitled to Ajio Coupons.

It should be noted that the coupon can be used on a minimum purchase of Rs 1,000. It can also be redeemed over and above existing Ajio discounts.

The AJio coupon worth Rs 399 will be credited under MyCoupons section of MyJio. The coupons can be redeemed on or before March 15, 2019, Reliance Jio said.

Each AJIO coupon can be availed only once, and is valid for a single transaction only, according to the telecom operator.

Reliance Jio has been coming up with New Year offers since the commencement of its business in 2016. Under the scheme, it has been offering services at effectively free rates.

Meanwhile, according to a report by Bernstein, Reliance Jio, the new telecom player, may capture the top position by 2021 on a revenue basis.

"Given the current rate of ongoing customer acquisition, Jio could reach the leading position on a revenue basis by 2021 and on a subscriber basis by 2022," Bernstein analysts Chris Lane and Samuel Chen said.

No start-up operator has managed such a feat anywhere and certainly not in a market where penetration levels among the 'middle classes' were already high, it said, adding Bharti Airtel had survived extreme Darwinian competition to emerge as a competitive market leader, while Vodafone has the backing of a global giant.