Biggest China to India loan ever bails out Reliance Communications

The 3G spectrum in India was touted as a money spinner, but some operators who won parts of the 3G spectrum are now in debt? The leading Indian telco Reliance Communications is one of them; stuck with paying an exorbitant amount of interest. Just as Reliance struggled to keep their nose above the water, the China Development Bank stepped in to loan USD 1.93 billion. Read more