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Old 29th May 2017, 12:02 PM
Alchemist Alchemist is offline
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Rcom has defaulted on its debt repayments.

Quote:
The Anil Ambani-owned mobile phone operator has defaulted on its loan servicing obligations with more than 10 local banks, some of whom have categorised the exposure as "special mention account" in their asset books.
Reliance Communications: Over 10 banks red flag Anil Ambani's Reliance Communications over missed loan payments - The Economic Times

A whole new worry is emerging for Indian banking sector.

Quote:
The telecom sector is under a debt of Rs 8 lakh crore, which is more than double of the direct exposure that banks have made into telecom sector, as disclosed by data from the Reserve Bank of India (RBI).
Bankers warn government about possible defaults in telecom industry | Business Insider India

What else can be expected when one company is offering telecom services for free.
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