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Banks seek more collateral for Vi LCs, putting its upgrade plans in jeopardy

By Economic Times - 3 days ago
Vodafone Idea's network upgrade plans face potential delays as banks demand additional collateral for issuing letters of credit to equipment suppliers. Despite claims of sufficient funds for the fiscal year, banks remain cautious due to Vi's substantial debt, including AGR dues. This situation could hinder Vi's ability to compete effectively with rivals like Jio and Airtel.

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