The replacement of prime lending rate (PLR) with marginal cost of fund-based lending rate (MCLR) was also recommended by the inter-ministerial group to ease the financial stress of telecom firms. Photo: MintNew Delhi: The Telecom Commission on Friday offered welcome relief to debt-laden telecom firms by giving them six more years to pay for spectrum purchases and lowered their interest burden. The Telecom Commission also enabled lower interest rates on unpaid dues of telecom companies by at least two percentage points. The replacement of PLR with MCLR was also recommended by the IMG to ease the financial stress of telecom firms. Mint reported on Friday that the Telecom Commission was expected to offer interim, piecemeal sops to debt-laden telecom firms, pending a comprehensive relief package that’s still some distance away.

Source: Mint September 29, 2017 15:32 UTC