SBI declares MTNL loan as NPA due to payment default

NEW DELHI: The State Bank of India (SBI) has declared loans given to state-owned Mahanagar Telecom Nigam Limited (MTNL) as a sub-standard non-performing asset (NPA) due to default in re-payment.

According to a letter from SBI, MTNL’s total outstanding loan balance was at Rs 325.52 crore as of September 30, with Rs 281.62 crore overdue, requiring immediate payment to regularise the account. SBI emphasised that failure to settle the overdue amount will lead to a penal interest rate on the outstanding balance.