 "Reserve Bank of India")
In an unusual directive, the Reserve Bank of India (RBI) on Tuesday asked banks to set aside higher provisioning for the telecom sector, starting from the current quarter.
The telecom industry had outstanding debts of nearly Rs 4 lakh crore, incurred mainly on account of payments for spectrum, spectrum usage charges and other levies. The beleaguered industry had written to the department of telecom, apprising it about the financial situation. As of September 2016, the total debt of listed telecom companies was at Rs 2,14,477.17 crore.
Udit Kariwala, senior analyst, financial institutions, India Ratings, said the stressed assets in the
