Letter to BS: Don't kill the telecom sector, India's global image at stake

The financial system cannot afford another massive hit after the PSB saga, NBFC/HFC problems and urban cooperative bank fiasco

This refers to the editorial “Saving the telecom sector” (November 18). Vodafone and Airtel posting mammoth losses aggregating Rs 74,000 crore in Q2 of this year is a matter of deep concern. These two service providers also have to pay up cumulative licence fees and spectrum user charges around Rs 1 trillion within a short period of time. This will likely result in these two companies folding up and the users will be facing a monopolistic situation. Monopolies resort to all sorts of anti-consumer actions like predatory pricing, restrictive practices, poor service etc with no other options for hapless consumer.