Department of Telecom slashes bank guarantee requirement for telcos by 80%
The Hindu
Under the amended norms, telecom operators will be required to provide a performance bank guarantee of up to ₹44 crore for each service for the telecom licence compared to ₹220 crore mandated under the old rule.
The Department of Telecom has slashed performance and financial bank guarantee requirement of telecom operators by 80%, according to a licence amendment note issued on Wednesday.
Under the amended norms, telecom operators will be required to provide a performance bank guarantee of up to ₹44 crore for each service for the telecom licence compared to ₹220 crore mandated under the old rule.
Similarly, telecom operators will need to provide a financial bank guarantee of maximum ₹8.8 crore per circle now, against the previous requirement of ₹44 crore.
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