New Delhi: State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,585 crore from seven public sector banks, the company said in a regulatory filing on Tuesday.
The loss-making public sector telecom firm's total debt obligations reached Rs 34,484 crore as on June 30, 2025 comprising bank loan of Rs 8,585 crore, sovereign guarantee bond Rs 24,071 crore and loan for DoT for paying Sovereign Guarantee Bond interest Rs 1,828 crore, according to the filing.
The total loan default includes Rs 3,733.22 crore of debt raised from Union Bank of India, Rs 2,434.13 crore of Indian Overseas Bank, Rs 1,121.09 crore of Bank of India, Rs 474.66 crore Punjab National Bank, Rs 363.43 crore from State Bank of India, Rs 273.58 crore from UCO Bank and Rs 184.82 crore from Punjab & Sind Bank along with principal and interest payment.
The defaults in loan payment have occurred between August 2024 to February 2025.
The state-run firm had reported a default of Rs 8,346.24 crore at the end of March 31, 2025 that occurred during the same period of August 2024 to February 2025.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)