The Department of Telecommunications (DoT) has reportedly demanded a bank guarantee of Rs 60.90 billion from Vodafone Idea Limited (Vi). The telco has been given a deadline of March 10, 2025 to submit the guarantee.
DoT has also mentioned that bank guarantee, which is required for the spectrum acquired after 2015, must be provided for a period of one year. The development comes as part of the government’s move to ensure that Vi continues to meet its financial obligations related to spectrum payments.
In a move to ease the financial burden, the government has also offered Vi the option to make a cash payment of Rs 54.93 billion, instead of providing the full bank guarantee. However, the telco will have to choose one of these options and comply with the requirements set by the telecom department.
