There will be no default on MTNL bond dues: Telecom Minister Scindia

The Indian government has assured there will be no default on MTNL's bond dues as its operations transfer to BSNL. Telecom Minister Jyotiraditya Scindia emphasized the government's support behind the sovereign guarantee bonds and ongoing asset monetization to settle liabilities. The government has paid Rs 92 crore towards immediate bond dues and plans to pay another Rs 64 crore for upcoming interest obligations. This intervention prevents a potential financial crisis for MTNL, which has struggled with debt and declining revenue. The move aims to stabilize the state-owned telco's financial situation.