IDFC First, IndusInd Bank: AGR verdict will not dent earnings, say experts

The verdict soured sentiment at banking counters which were factoring-in at least 15 years timeline for the payment of AGR dues

The Supreme Court on Tuesday allowed Vodafone Idea and Bharti Airtel 10 years time to pay their outstanding adjusted gross revenue (AGR) dues, starting April 2021. The apex court asked telcos to pay 10 per cent of their dues as "upfront payment" by March 31, 2021. Remaining instalments will need to be paid on February 7 every year.

The verdict temporarily soured sentiment at banking counters which were factoring-in at least 15 years timeline for the payment of AGR dues. IDFC First Bank tanked 7 per cent to hit an intra-day low of Rs 29.7 apiece on the