SBI-Led Consortium Approves $3.5 Billion Loan for Vodafone Idea

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A banking consortium led by the State Bank of India has approved a $3.5 billion loan for Vodafone Idea, India's third-largest wireless operator by subscribers. The funds are intended to help the telecom firm strengthen and upgrade its network infrastructure. The capital injection is aimed at improving Vodafone Idea's competitive position against rivals Bharti Airtel and Reliance Jio. The move signals a significant financial lifeline for the struggling telecom operator as it works to close the gap with its larger competitors.

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