Cabinet secretary to hold meeting next week on MTNL revival

New Delhi: Cabinet secretary TV Somanathan will hold a meeting next week with various stakeholders to discuss the future of stressed state-run telecom company Mahanagar Telephone Nigam Ltd (MTNL), including its loan defaults, said people with knowledge of the matter.

MTNL has defaulted on ₹8,346 crore in loan repayments to multiple banks, including Union Bank of India, Indian Overseas Bank, Bank of India, Punjab National Bank and State Bank of India among others-all state-run lenders-as of April 30. This includes ₹7,794 crore in outstanding principal and ₹552 crore in overdue interest and penal charges. The loans are backed by sovereign guarantees.