‘Navratna’ MTNL offers to pay 40% dues; PSU banks hang up

Several lenders have classified loans to Mahanagar Telephone Nigam (MTNL) as non-performing assets, leading the state-run telecom utility to propose a debt recast plan. MTNL's offer to pay 40% of dues was rejected by lenders. The company faces significant financial challenges, including missed payments and heavy debt.
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