NEW DELHI (Reuters) - The Union Cabinet allowed state-run telecommunications carriers Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd to return their 4G radio spectrum and get refunds of a total 112.6 billion rupees, in a move to help the money-losing companies.
The government will refund 67.24 billion rupees to BSNL and 45.34 billion rupees to MTNL in a staggered manner, Information and Broadcasting Minister Manish Tewari told reporters on Thursday after a meeting of the cabinet.
BSNL and MTNL had received the spectrum in 2010 but have not yet launched the services.
(Reporting by C.K. Nayak; editing by Malini Menon)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app