Govt’s nod for bank guarantee waiver will reduce telcos’ burden: COAI

Industry body COAI on Tuesday said the Cabinet nod for bank guarantee waiver for past spectrum purchases is a “landmark decision” that would help reduce financial burden on telecom operators in the country.

The association – whose members include Vodafone Idea, Bharti Airtel and Reliance Jio – further said the move will enhance cash flow, free up capital and enable capital investments in network expansion and technology upgrades. This, COAI said, will ensure a stronger and robust rollout of telecom networks in the future.