Sistema Shyam Teleservices (SSTL) has secured a loan of Rs 500 crore from the
Central Bank of India.
The loan amount is likely to be used for capital as well as operational
expenditure of the company. The bank has given the loan for a term of two years
with repayment of the entire amount after maturity. Russia based conglomerate
JFSC Sistema will be the corporate guarantor for the loan.
Sistema is the majority partner with 74 per cent equity in SSTL, which
operates MTS brand of telecom service in India.