BENGALURU (Reuters) -India’s Mahanagar Telephone Nigam has defaulted on loans totaling 85.85 billion rupees ($1 billion), the public-sector telecom firm said on Tuesday.
The loans were made by seven public sector, with Union Bank of India and Indian Overseas Bank having the biggest exposure, MTNL said in an exchange filing.
($1 = 85.8860 Indian rupees)
(Reporting by Nishit Navin; Editing by Anil D’Silva)
