ALSO READRBI group to study MCLR regime so that your bank reduces loan rate IMG discusses various options for stressed telecom sector Department of Telecom to circulate IMG draft report among stakeholders Report on telecom stress likely in 20 days Govt panel for sops to ease financial stress in telecom sector
The inter-ministerial group (IMG), formed to address the financial stress in the telecom sector, will set to meet again to further discuss issues.
The IMG will try to finish its report before Sunday and place it before the Telecom Commission for approval.
The panel had reached consensus on increasing the tenure of spectrum payment, cutting interest rate and shifting of PLR (prime lending rate) into the MCLR (marginal cost of funds-based lending rate). It is yet to take a call on any reduction in Universal Service Obligation Fund (USOF) levy, which currently stands at 5 per cent of adjusted gross revenue.
The Telecom Commission, which is the highest decision making body of Department of Telecommunications (DoT) is likely to meet on September 1 to discuss the issues plaguing the sector.
“Extending the deferred payment schedule to 16 years, and converting the PLR (prime lending rate) into the MCLR (marginal cost of funds-based lending rate) are mostly finalised,” a source said.