Sistema Shyam TeleServices Limited (SSTL) has been granted a Rs 5 billion loan by the Reserve Bank of India to fund its expansion plans. The loan, granted for a term of two years on condition of complete repayment after maturity, will be used to fund The company’s capital and operational expenses. SSTL, which is currently present in 11 of the country’s 22 circles, plans to expand its broadband wireless services to 100 cities by end-2010. It also intends to venture into the capital markets to fund these plans.
