Yes Bank And Idfc Bank May Be In Risk Due To Vodafone Idea
Vodafone Idea IDFC and Yes Bank are at the forefront in lending to (VI) which has given more than 5.3% of the total loan to VI though the outstanding of Rs 11,000 crore is due to SBI.
New Delhi. Vodafone (Vodafone) Idea (idea) lenders will soon approach the finance ministry with banks urging the government to save their money from sinking amid reports of Vodafone Idea (VI) sinking. Actually Vodafone Idea has a debt of billions and it seems unable to repay this loan. It is worth noting that Vodafone is not ready to give any other loan to Idea, nor is it getting funding from anywhere.
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vodafone idea (VI) owes 25000 crores to banks
The lenders of Vodafone Idea are very concerned where they fear losing their money, while they are in constant talks with the government and VI. Vodafone and Idea had joined hands after continuing losses and the new company was launched in the market with VI. Even after this, both the companies did not make profit and became India’s biggest loss-making telecom company.
VI’s concern increased after the Supreme Court’s decision on Friday, in which VI in the court gave a setback to Vodafone and Idea in the AGR (Adjusted Gross Revenue) arrears case and ordered to pay 58,254 crores.
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VI owes these big banks
IDFC Bank and Yes Bank are the leaders in lending to Vodafone Idea, which have lent close to 5.30 per cent of their total loans to Vodafone Idea alone. In which IDFC Bank has lent 2.90% and Yes Bank has given 2.40%.
All the banks have lent so much
IDFC BANK -3240CR (2.90)%
YES BANK – 4000CR (2.40)%
INDUSIND BANK- 3500CR (1.65)%
PNB- 3000CR (0.44)%
SBI – 11000CR (0.43)%
ICICI – 1700CR (0.23%)
AXIX BANK – 1300CR (0.21)%
HDFC Bank – 1000CR (0.09)%
All these banks have also raised their problem by contacting the Finance Ministry in June, where they said that if Vodafone Idea sinks and their money does not come, then it will be the biggest failure of the government because this is the biggest loss of public banks. Will happen.
Apart from the banks, those customers of Vodafone Idea (VI) will also suffer huge losses as well as thousands of jobs will also be at risk if VI goes bankrupt, so the government should do something in this matter soon. It is worth noting that the government also has spectrum of 96270 crores on VI and AGR of 58252 crores, out of which VI has paid only 7854 crores.
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