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Vodafone Idea, struggling under debt, announced a refinancing plan of up to Rs 45,000 crore. The capital infusion aims to pay off dues, expand 4G and roll out 5G. However, challenges like debt servicing and government payouts remain. Survival is crucial for India's telecom sector.
Vodafone Idea, struggling under debt, announced a refinancing plan of up to Rs 45,000 crore. The capital infusion aims to pay off dues, expand 4G and roll out 5G. However, challenges like debt servicing and government payouts remain. Survival is crucial for India's telecom sector.
The issue before the apex court related to the liability of the telecom service providers to deduct TDS under Section 194-H of the Income Tax Act on the amount which, as per the revenue authorities, was a commission payable to an agent by the assessee (telco) under the franchise/distributorship agreement between them.
Aggressive competition from Reliance Jio and Bharti Airtel, low telecom tariffs, a declining subscriber base and no fundraise have put Vodafone Idea on a sticky wicket. The ailing telco desperately needs funds to survive in the market, which once boasted of 12 telecom operators, and for expansion of existing 4G services and launch next-generation 5G services where the competition has taken the lead.
In 2016, the first of 11 payments bank licences was issued. Eight years later, only six are still operational