A potential bank guarantee waiver will not only be for financially beleaguered Vodafone Idea (Vi) but for the entire sector, Telecom Minister Jyotiraditya Scindia said on Tuesday.
"Bank guarantee waivers have already been given post-2022, as part of the spectrum auctions. Any step the government takes will not be company specific, but sectoral," Scindia told reporters at a media briefing.
Vi has been actively seeking the removal of bank guarantee requirements for spectrum acquired before 2022.
The telco needs to secure bank guarantees worth ₹24,700 crore in the coming months. As a result, a change in the current norms will largely benefit Vi, even though it is an industry demand.
This story is from the November 13, 2024 edition of Business Standard.
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This story is from the November 13, 2024 edition of Business Standard.
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