{
Neeraj Mittal

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cabinet waives bank guarantee for telecom operators easing financial burden

The Cabinet has approved waiving bank guarantee requirements for telecom operators on spectrum purchases made before 2022, providing significant relief to Vodafone Idea, which owes over Rs 24,700 crore to the government. This decision aims to alleviate financial stress in the telecom sector and enhance cash flow for operators, facilitating greater investment in network expansion. The move follows earlier reforms that removed BG requirements for future spectrum acquisitions, addressing concerns raised by the Cellular Operators Association of India.
Moneycontrol
Indian Rupee Vodafone Idea Limited Airtel IND Neeraj Mittal
Finance & Economy, News Article
18:48 25.11.2024
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