November 20, 2019 / 5:37 PM / 17 days ago

India allows telecoms firms to defer spectrum payments

NEW DELHI, Nov 20 (Reuters) - India will allow mobile operators to defer payments due for airwave capacity bought via auction until the end of March 2022, the federal finance minister said late on Wednesday.

The decision of Prime Minister Narendra Modi’s cabinet provides some respite to wireless carriers which are due to pay the country’s telecoms department at least 920 billion rupees ($12.82 billion) in overdue levies and interest following a court ruling. ($1 = 71.7430 Indian rupees) (Reporting by Sankalp Phartiyal; Editing by Kirsten Donovan)

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