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RBI asks banks to closely monitor loans to telecom sector

RBI asks banks to closely monitor loans to telecom sector

Tuesday, April 18, 2017, 10:58 PM

The RBI on Tuesday asked banks to make higher provisioning for loans to the telecom sector that is facing financial stress and closely monitor their exposure to avoid any adverse impact on businesses. The sector has a debt of about Rs 4.6 lakh crore even as it faces pressure on revenues and profitability in the wake of cut-throat competition following entry of Reliance Jio.
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