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India’s Banks are facing threats from $13 Billion telecom dues: UBS

Nabanita Dutta

News Editor
Image Credit: shortpedia

According to UBS group AG, the top court of India has rejected of an appeal by wireless carriers to review $13 billion they owe to the Indian government. It has raised the risks for the lenders to the company. IndusInd Bank, Yes Bank and Punjab National Bank are among the least preferred stocks in the banking sector. However, Axis Bank, ICICI Bank Ltd and HDFC Bank Ltd have received positive reviews from the UBS group.