Cabinet clears bank guarantee waiver for spectrum auctioned since 2012

The Indian government waived bank guarantees for deferred spectrum payments from 2012 onwards, benefiting Vodafone Idea (Vi), Bharti Airtel, and Reliance Jio. Vi, facing financial difficulties, gains the most relief, avoiding Rs 24,700 crore in guarantees. The waiver is conditional on companies paying an additional three months' installment with their annual payment.