State-owned MTNL defaults on Rs 1,000 crore loan to Bank of India

Quick Summary:

MTNL has defaulted on a Rs 1,000 crore loan from Bank of India, leading the bank to set aside Rs 200 crore to cover potential losses.

This comes after SBI categorized its loans to MTNL as sub-standard.

Despite the default, lenders are optimistic about recovery as MTNL is government-owned and some loans are backed by government guarantees.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: India

Topics: Provision for loan default MTNL loan default Telecom industry decline MTNL financial loss Public sector telecom firm Bank of India financial results SBI sub-standard loans Government-owned telecom company

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 03:25:23 (2 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 304 words

Reading Time: 2 minutes read

Sentences: 21 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23530079

View Article Analysis

About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 23 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #28

Publisher Details

Frequently Asked Questions