Vodafone Idea Crisis: Vodafone Idea Is Struggling For Survival

Vodafone Idea crisis: Finance Minister Sitharaman said, ‘Many officials’ are talking, nothing came to me.

Finance Minister Nirmala Sitharaman on Monday said that ‘many officials’ are talking about Vodafone Idea’s crisis, but nothing has come to them yet.

This statement of the Finance Minister comes amid hopes of finding a solution from the government to prevent Vodafone Idea Limited (VIL) from reaching the brink of closure.

Significantly, the financial condition of India’s third-largest telecom company is a matter of concern for its lenders.

While talking to the media, Sitharaman said that many officers are talking among themselves, but nothing has come to me.

However, Sitharaman did not say whether the talks were taking place between government officials or whether the lender was in talks with Vodafone Idea.

Vodafone Idea is currently struggling for survival, Vodafone Idea has cleared spectrum payment obligations of Rs 1,06,010 crore and Adjusted Gross Revenue (AGR) liability of Rs 62,180 crore of the government.

It is to be known that industrialist Kumar Mangalam Birla had recently announced his resignation as the chairman of VIL.

He has sought the help of the government to bail out the company from the crisis and also offered to give up his stake in VIL.

Vodafone Idea has been incurring losses on a continuous yearly basis since March 2016.

Cryptocurrency will run in India or not, know what is the intention of the government.

If you invest in Cryptocurrency, then there is special news for you. Finance Minister Nirmala Sitharaman is awaiting cabinet approval on a bill related to cryptocurrency. She has the proposed bill.

The Inter-Ministerial Panel on Cryptocurrencies, constituted under the chairmanship of the Secretary, Economic Affairs, to study the issues related to digital currencies and propose specific actions, has already submitted its report.

The report recommended that all private cryptocurrencies, except any digital currency issued by the government, be banned in India.

The Finance Minister said that the Cabinet note on the Cryptocurrency Bill is ready. I am waiting for the Cabinet to approve it.

RBI has conveyed its concerns to the government regarding the prevailing cryptocurrencies in the market.