State-owned MTNL has defaulted on bank loan payments totaling Rs 422.05 crore, including Rs 328.75 crore in principal and Rs 93.3 crore in interest for June and July. Defaults include Rs 155.76 crore to Union Bank, Rs 140.37 crore to SBI, and others. MTNL, with a total debt of Rs 31,944.51 crore, has sought Rs 1,151.65 crore from the government and an allocation of Rs 3,668.97 crore for bond payments. This financial strain could negatively impact telecom sector stocks and investor confidence.
