Mahanagar Telecom Nigam limited (MTNL) the state owned telecom service provider has once again catching attention and it's not for a service launch or Expansion but it's for defaulting on financial commitments to banks
MTNL has formally informed to Exchanges and stakeholders about its repeated inability to meet repayment obligations towards various banks covering both principals and interest rates
As per the updated statement, MTNL has officially defaulted on payments to seven prominent public sector banks and here's clear breakdown of all banks involved
Union Bank of India:
- Total outstanding:₹3,633.42 Crore
- Principal:₹3,334.57 Crore
- Overdue interest:₹298.55 Crore
- Overdue Principal:₹546.46 Crore
Union Bank of India declared NPA on 12th August 2024 and Share price of Bank surges 13% in last 6 months
Bank of India:
- Total outstanding:₹1,077.34 Crore
- Principal:₹999.54 Crore
- Overdue interest:₹77.80 Crore
- Overdue Principal:₹212.09 Crore
Bank of India Declared NPA on 4th September 2024 and share Price of Bank of India Surges 12% in last 6 months
Punjab National Bank:
- Total outstanding:₹446.26 Crore
- Principal:₹432.16 Crore
- Overdue Interest:₹32.10 Crore
- Overdue Principal:₹184.36 Crore
Punjab National Bank declared NPA on 9th September 2025 and share Price of PNB down 3% in last 6 months
State Bank of India:
- Total outstanding:₹350.05 Crore
- Principal:₹313.90 Crore
- Overdue Interest:₹36.15 Crore
- Overdue Principal:313.90 Crore
State Bank of India declared NPA on 28th September 2024 and share Price of SBI dow. 3% in last 6 months
UCO Bank
- Total Outstanding:₹266.39 Crore
- Principal:₹245.83 Crore
- Overdue Interest:₹20.56 Crore
- Overdue Principal:₹245.83 Crore
UCO bank Ltd declared NPA on 28th September 2024 and share Price of UCO bank massive 34% in last 6 months
Punjab and Sind Bank
- Total Outstanding:₹180.30 Crore
- Principal:₹168.34 Crore
- Overdue Interest:₹11.96 Crore
- Overdue Principal:₹132.57 Crore
Punjab and Sind Bank declared NPA on 8th October 2024 and share Price of UCO down massive 46% in last 6 months
Indian Overseas Bank
- Total Outstanding:₹2,374.59 Crore
- Principal:₹2,300 Crore
- Overdue Interest:₹74.49 Crore
- Overdue Principal:₹0 Crore
Indian Overseas Bank declared NPA on 3rd February 2025 and Share price of IOB down 30% in last 6 months
The grand total of MTNL's outstanding banks loan reaching at ₹8,346.24 Crore and out of this ₹7,794.34 Crore is Principal Debt ,While ₹551.90 crore accounts for overdue interest and additionally ₹1,635.39 Crore has been flagged as overdue Principal
This is not over yet additionally beyond just These banks loan MTNL's Total financial debt position tells an even more daunting Story, According to latest disclosure financial debts stands for ₹33,568 crore and this includes ₹8,346 crore owed to banks and ₹24,071 crore in Sovereign bonds and ₹1,151 crore loan from Department of Telecommunication (DOT) This is take to cover interest obligations of these bonds
MTNL is once considered as key and prominent player in India's telecommunication sector but now MTNL find itself as entangled in Rising debt
At last Trading Session Mtnl Share price ended flat despite market Rally and if we talk about long term,This stock wealth destroyer for many investors stock down more than 90%,it made high of 380 in Year of 2000 and since then Stock haven't touched this Level
Disclaimer:This article is published for informational and educational purposes only, based on the official filings and disclosures made by MTNL as per SEBI regulations.
