Vi remains engaged with DoT on Rs 25K crore bank guarantee waiver

Vodafone Idea on Tuesday said the company continues to be engaged with the department of telecommunications (DoT) for removal of the bank guarantee requirements for spectrum purchased before 2022 auctions.

This comes after the DoT has recently issued a notice to the company asking it to submit the bank guarantees, which it is supposed to do as per the rules, a year before the moratorium on spectrum payments expires in 2025. Accordingly, Vodafone Idea needs to submit bank guarantees to the tune of Rs 24,700 crore in tranches, starting September 20.