Let telcos undergoing debt restructuring surrender spectrum: IBA to DoT

Excess upfront payment for airwaves should also be refunded

The Indian Banks’ Association (IBA) has asked the government to allow telecom companies undergoing debt restructuring in schemes drawn up by the Reserve Bank of India to surrender liberalised spectrum. Any excess upfront payment associated with such spectrum should be refunded, it has argued.

In a letter dated November 29 to Aruna Sundararajan, secretary, department of telecommunications (DoT), the IBA has also sought speeding up of the process for announcing relief measures for telecom companies. It was becoming difficult for mobile operators to survive and service their debt without immediate support from the government, the IBA added.

Debts of the