NEW DELHI: Four major lenders, including SBI and HDFC Bank, on Wednesday
voiced concerns over "stress" in the telecom sector and flagged
possibility of defaults by debt-laden operators at a meeting with an inter-ministerial group.
The group, constituted to suggest policy reforms in the telecom sector, asked the banks to come back with more information like level of exposure to telecom sector and extent of 'stress' in the next meeting, an official who was present in the meeting said.
The panel has already met senior executives from Reliance Jio, Reliance Communications, Tata Teleservices and Aircel. It has held discussions with telecom PSUs Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd too this week.
Meanwhile, the telecom regulator will meet all the operators on Thursday to understand the financial difficulties being faced by the industry and measures that can be taken to ease the situation.
The incumbent operators have been vocal about the onslaught of free voice and data offers by the aggressive newcomer Reliance Jio (RJio), and its impact on the industry's revenue in FY2016-17.
Source:-TOI
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The group, constituted to suggest policy reforms in the telecom sector, asked the banks to come back with more information like level of exposure to telecom sector and extent of 'stress' in the next meeting, an official who was present in the meeting said.
The panel has already met senior executives from Reliance Jio, Reliance Communications, Tata Teleservices and Aircel. It has held discussions with telecom PSUs Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd too this week.
Meanwhile, the telecom regulator will meet all the operators on Thursday to understand the financial difficulties being faced by the industry and measures that can be taken to ease the situation.
The incumbent operators have been vocal about the onslaught of free voice and data offers by the aggressive newcomer Reliance Jio (RJio), and its impact on the industry's revenue in FY2016-17.
Source:-TOI
Viewmore:- Germany Cloud Server and Germany VPS Server and Germany Dediacted Server
