Search
SBI Cuts Line of Credit to Weak Telecom Companies
June 15, 2017
According to a report, India’s largest lender SBI has canceled the line of credit to some of the poorly performing telecom carriers, especially since the bank is working to reduce the burden of non-performing assets lately.
The statement was given by a senior SBI executive who didn’t name the companies. However, the top telecom players viz. Reliance Jio, Idea Cellular, Vodafone India, and Bharti Airtel said that the lender has not taken any such action on them. Aircel and Tata Teleservices, however, have not responded to the question yet.
