The Department of Telecom (DoT) has reduced the financial bank guarantee requirements of the country’s leading telecom companies by 80 percent. A license amendment note has been issued in this context.
The Department of Telecom (DoT) has reduced the financial bank guarantee requirements of the country’s leading telecom companies by 80 percent. A license amendment note has been issued in this context. It said that telcos will have to give a guarantee of up to Rs 44 crore for each service area for telecom license regarding performance in the area under the obligation. Earlier this guarantee was Rs 220 crore.
Similarly, as against the previous requirement of Rs 44 crore, each telecom circle will now need to provide a maximum financial bank guarantee (FBG) of Rs 8.8 crore.
Bank Guarentee for Telecom Sector
The rule will not be applicable in cases where bank guarantees have been furnished due to any court order or are subject to any litigation, the license amendment note said. The rules will not apply to telecom operators, who are currently going through the liquidation process.
However, the amended rationalisation of bank guarantees is subject to revisions. For instance, the existing bank guarantees furnished or required due to any court order or litigation will continue.
For your information, let us tell you that the rules of the License Amendment Note will not apply in those circumstances, where the bank guarantee has been given by the court or is subject to any legal dispute. Apart from this, the rules will also be applicable to those telecom operators who are going through their amortization process.
Having said this, recently some experts shared their views in an event organized by the Department of Telecommunications. During this, he also informed the participants about the PM Vani scheme launched by Prime Minister Narendra Modi and the prevention of cybercrimes.
Apart from this, experts said that there is no danger of spreading radiation from the mobile tower. There will be no harm to the people due to the waves emanating from the mobile tower. To improve the communication system, there is a great need to install towers.
Talking about the PM Vani scheme, under this, high-speed internet will be provided to the people in any area through the fiber cable. At the same time, the main goal of this scheme is to spread the internet network in urban areas as well as rural and remote areas, so that all can use high-speed internet.
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