Govt's nod for bank guarantee waiver will reduce telcos' burden: COAI

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Govt's nod for bank guarantee waiver will reduce telcos' burden: COAI - Business Standard

Quick Summary:

Industry body COAI on Tuesday said the Cabinet nod for bank guarantee waiver for past spectrum purchases is a "landmark decision" that would help reduce financial burden on telecom operators in the country.

"COAI welcomes the Union Cabinet's move and thanks the Government on approving the waiving of bank guarantee for telecom operators on spectrum purchased before 2022.

The association - whose members include Vodafone Idea, Bharti Airtel and Reliance Jio - further said the move will enhance cash flow, free up capital and enable capital investments in network expansion and technology upgrades.