State-run telecom operator MTNL has defaulted on loans worth about ₹8,659 crore, according to data available on BSE. The biggest lenders are Union Bank of India, Indian Overseas Bank and Bank of India, with MTNL collectively owing ₹34,577 crore. MTNL had begun defaulting on loans in August 2024, starting with ₹3,768-crore loan and ₹1,131-crore loan's defaults.