Cabinet allows state-run telecoms to return 4G spectrum

NEW DELHI (Reuters) - Cabinet allowed state-run telecommunications carriers Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd to return their 4G radio spectrum and get refunds of a total 112.6 billion rupees, in a move to help the money-losing companies.

The government will refund 67.24 billion rupees to BSNL and 45.34 billion rupees to MTNL in a staggered manner, Information and Broadcasting Minister Manish Tewari told reporters on Thursday after a meeting of the cabinet.

BSNL and MTNL had received the spectrum in 2010 but have not yet launched the services.

(Reporting by C.K. Nayak; editing by Malini Menon)