‘Navratna’ MTNL is now an NPA in SBI’s books

Mahanagar Telephone Nigam (MTNL), a Navratna company, has been declared a non-performing asset (NPA) by State Bank of India (SBI), the state-run telco informed the exchanges on Friday. This comes a month after Punjab National Bank (PNB) downgraded the loan accounts of the company, which provides services in Delhi and Mumbai, to the NPA status on September 9. A few other public sector banks had earlier downgraded the firm.