Vodafone Idea Accepts 4-Year Spectrum Payment Moratorium

Vodafone Idea's board has accepted the federal government's supply of four-year moratorium

Weeks after the federal government had introduced providing telecom firms a four-year spectrum dues fee moratorium, money strapped Vodafone Idea stated on Wednesday that its board has okayed the proposal.

The firm stated in a regulatory submitting that its "board of directors has approved the exercise of the option of deferment of the company's spectrum auction instalments for a period of four years (October 2021 to September 2025) in accordance with the notification issued by the Department of Telecommunication to the company".

The authorities final week had requested telecom firms like Bharti Airtel, Reliance Jio in addition to Vodafone Idea, to tell it by October 29, whether or not they're eager to go for the four-year dues moratorium interval.

The possibility is a part of the federal government's reforms for the telecom sector which it had introduced just lately to bail out firms which have been financially careworn.

The Telecom Ministry has additionally given 90 days time to the operators to point in the event that they wish to go for changing the curiosity quantity pertaining to the moratorium interval into fairness.