DoT renews its request for seeking partial waiver for MTNL with the finance ministry

The Department of Telecommunications (DoT) has reportedly renewed its request with the Ministry of Finance, seeking a partial waiver of Mahanagar Telephone Nigam Limited’s (MTNL) outstanding debt. This follows the finance ministry’s earlier rejection of MTNL’s appeal for public sector banks (PSBs) to forgo a portion of the outstanding loans.

MTNL currently owes Rs 841 billion to public sector banks including Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.