 PSU MTNL has raised Rs.2500 crore from Axis Bank as part of its Rs.6,564 crore payment to be made to the government towards 3G spectrum.
"We have raised Rs 2,500 crore as short-term loan from Axis Bank and the remaining would be paid from the internal accruals," MTNL Director (Finance) Anita Soni told PTI.
Ironically for MTNL which operates only in Delhi and Mumbai, the two circles were the most fiercely fought circles with bids for Delhi at Rs.3316.93 crore and that for Mumbai at Rs.3247.07 crore. |