BG Waiver will ensure 4G/5G network growth: Vi
Vodafone Idea (Vi) has said.
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On December 27, the Centre had sent letters to all three private operators — Reliance Jio, Bharti-Airtel, and Vodafone-Idea (Vi) waiving the need for BGs worth Rs 33,000 crore. The bulk of the relief, amounting to Rs 24,800 crore, applies to Vi.
“This step of BG waiver is a clear indication of the Government’s continued support to the telecom industry,” Vi said in an exchange filing late Saturday. “It will ensure that the exposure of the banking system is utilized by telecom operators towards further proliferation of 4G and 5G networks in India.”
The BG waiver will apply to spectrum auctions conducted in 2012, 2014, 2015, 2016, and 2021. Spectrum auctions conducted in 2022 and 2024 have already done away with the requirement for BGs based on the 2021 telecom reforms package.
“Prior to this reform, BGs aggregating to Rs. 24,800 Crore were required to be provided by VIL against each spectrum instalment…out of all the 5 auctions mentioned above, no BGs will be required to be provided by VIL for the 2012, 2014, 2016 and 2021 auctions,” Vi said.
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