Government-owned Mahanagar Telephone Nigam Ltd has defaulted on the payments of both principal and interest to seven major public sector banks, totalling ₹8,585 crore, according to an exchange filing. The lenders are Union Bank of India, BOI, PNB, SBI, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank. Loan payment failures have reportedly occurred from 2024 to February 2025.