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Banks will have to pay in case any telco firm goes bankrupt: SBI chairman

Shortpedia

Content Team

Supreme Court passed an issue that telecom firms have to pay Rs. 1.47 lakh crore to clear the past dues. SBI chairman Rajnish Kumar responded that banks will have to pay in case any telecom firm goes bankrupt. SBI came to this decision because a big firm going bankrupt means that the entire economy of India will be tarred. Vodafone has dues of Rs. 53000 crores, Bharti Airtel Rs. 35,500 crores and Rs. 14000 crore by Tata.