DoT notifies Vodafone Idea for failing to submit ₹24,700 crore bank guarantees for past spectrum auction dues; potential waiver under consideration.

The Department of Telecommunications (DoT) has notified Vodafone Idea (Vi) for failing to submit bank guarantees exceeding ₹24,700 crore for past spectrum auction dues. Despite an initial rejection, DoT is reconsidering a waiver due to Vi's financial struggles and 2021 reforms that eased guarantee requirements. A potential waiver could also benefit other telecom firms like Reliance Jio and Bharti Airtel. Vi's guarantee submission is essential in the coming months.

October 06, 2024
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