COAI asks govt to address issue of companies' fiscal health

Jio's aggressive pricing, govt's revenue losses, banks' over-exposure to sector are key concerns

The Cellular Operators’ Association of India (COAI) has sought steps to address the aggressive pricing strategy of Reliance Jio and the prospect of the government losing out on revenue.
 
The association wanted remedial action before banks stopped lending to the sector.
 
In an interaction with Business Standard, Rajan S Mathews, director-general of the COAI, said domestic banks had 80 per cent of the Rs 4.6 lakh crore exposure to the telecom industry and they were becoming nervous in the current situation.
 
He said the issue raised by Telecom Secretary JS Deepak should be viewed from the perspective