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MTNL defaults on Rs 1,000 crore loan, Bank of India makes provision

By Economic Times - 2 days ago
Bank of India has set aside Rs 200 crore after MTNL, a government-owned telecom company, defaulted on a Rs 1,000 crore loan. MTNL's financial struggles led the bank to classify the loan as high-risk, requiring the provision. Despite this, Bank of India reported a significant increase in net profit for Q2FY25.

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