Sistema Shyam Teleservices Ltd (SSTL) received a Rs. 500 crore loan from the Central Bank of India. The loan is for a term of two years with repayment of the entire amount after maturity. JFSC Sistema will be the corporate guarantor for the loan.

MTS said that the loan will be used towards its expansion plans to have a pan-India presence.

“The loan from Central Bank of India is an affirmation of the confidence in our business plan by financial institutions ensuring  our roll out plans  in line with our strategy”, said Mr. Sergey Savchenko, Chief Financial Officer of SSTL.