RBI flags impact of telecom troubles on banks, inflation: Report

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RBI flags impact of telecom troubles on banks, inflation: Report

The central bank has conveyed its concern to the government and sought relief for telcos

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The Reserve Bank of India (RBI) has raised concerns over the large exposure of banks to various telecom companies and of a possible inflation hike due to the sectors’ recent adjusted gross revenue (AGR) based troubles, Mint reported.

The central bank has conveyed its concern to the government and sought relief for telcos. It is “concerned about the Supreme Court order on telecom dues and is watching the industry closely,” a source told the paper, adding that the government is likely to consider RBI’s requests and is working on a potential rescue plan for telcos.

Source- Moneycontrol.