CosmicTaco

Vodafone Idea Relieved by Bank Guarantee Waiver

CosmicTaco · 2024-12-29T22:26:30.938411+05:30

- The telecom department has waived the bank guarantee requirement for spectrum auctions, benefiting Vodafone Idea significantly. - This move will help boost 4G and 5G investments, with the company no longer needing to submit Rs 24,800 crore in guarantees. - Vodafone Idea expressed gratitude to the authorities, highlighting the positive impact on the telecom industry's growth and banking system utilization. Source: [Abp News](https://news.abplive.com/business/vodafone-idea-says-dot-s-bg-waiver-comes-as-relief-for-telecom-industry-1740558), [The Economic Times](http://economictimes.indiatimes.com/industry/telecom/telecom-news/bank-guarantee-waiver-will-ensure-4g/5g-network-growth-vi/articleshow/116759679.cms)

The telecom department has waived the bank guarantee requirement for spectrum auctions, benefiting Vodafone Idea significantly.
This move will help boost 4G and 5G investments, with the company no longer needing to submit Rs 24,800 crore in guarantees.
Vodafone Idea expressed gratitude to the authorities, highlighting the positive impact on the telecom industry's growth and banking system utilization.

Source: Abp News, The Economic Times