MTNL receives Rs 4.28 billion for surrendering spectrum in 800 MHz band

Mahanagar Telephone Nigam Limited (MTNL) has received Rs 4.28 billion from the government for surrendering spectrum in the 800 MHz band which is used for providing CDMA services. This comes after the government approved a compensation of Rs 4.58 billion to MTNL for surrendering the spectrum. This is part of the financial revival strategy that the government has put in place for the operator which has been making losses for the past few years.