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The Union Cabinet has exempted the requirement of submitting bank guarantee for spectrum purchased through auctions conducted before 2022. This has come as a big relief to Vodafone-Idea as it has already passed the deadline for submitting bank guarantees for spectrum payments due between October 2025 and September 2026.
New Delhi. The Union Cabinet has exempted the requirement of submitting bank guarantee for spectrum purchased through auctions conducted before 2022. The move is a big relief to debt-laden Vodafone-Idea as it has already passed the deadline to submit bank guarantee of Rs 24,746.9 crore for spectrum payments due between October 2025 and September 2026. This decision will also provide relief to Bharti Airtel and Reliance Jio.
Who have purchased radio waves through various auctions held before 2022. “The Cabinet has done away with the requirement of bank guarantee after considering the relief sought by telecom companies,” a source said. As part of the telecom reforms announced in September 2021, the government has done away with the requirement of bank guarantee. The requirement of submitting bank guarantee for spectrum has already been removed.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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