Union Bank freezes accounts of telecom firm MTNL over non-payment of dues

Union Bank of India has frozen the accounts of the state-run telecom company MTNL due to non-payment of dues. The bank’s action follows MTNL’s failure to settle outstanding payments, affecting the company’s ability to operate smoothly. This measure is part of a broader trend where financial institutions are taking stringent actions against entities defaulting on payments. The situation highlights the financial strain faced by public sector enterprises and the challenges banks face in managing recovery of dues from large corporations