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This is against the earlier two paise per second tariff and would be implemented with immediate effect, SSTL said in a statement.
With new operators joining the race, telecom operators are looking at wooing customers with lower tariffs and calling rates.
Older players like Airtel, Reliance and Vodafone have already introduced lower STD rates recently to keep up with the competition.
"STD will now be one paisa per second or 60 paise per minute (for lifetime) with the added benefit of per second billing," MTS said in a statement.
While STD calls from MTS will be charged at one paisa per second, MTS to MTS local calls will be charged at one paise per two seconds, it added.
Calls from MTS to other local networks will be charged at one paisa per one second. The offer is applicable for lifetime for all existing and new subscribers, it said.
Reliance has recently launched a plan for its GSM and CDMA customers (both pre-paid and post-paid) with calls at 50p/min.
Airtel offers local as well as STD calls at 50 paise to other Airtel numbers upon an additional monthly payment (Rs 85 for post-paid and Rs 50 for pre-paid).