As MTNL turns NPA for several banks, govt asks lenders to hold off on insolvency

Mumbai: The government has asked lenders to hold off exploring insolvency options for Mahanagar Telephone Nigam Ltd (MTNL), according to two persons aware of the development, after the state-owned telecom operator turned a non-performing asset (NPA) for several banks in Q2FY25 due to non-repayment of loans.

Instead, the government has assured banks that it is working on a restructuring plan, the first person told Mint.