More

    Cabinet approves BSNL-MTNL merger, employees to get VRS package offer

    Must Read

    Covid 19 cases reached 14783 in Vadodara after 95 new cases on Wednesday

    Total 120 discharged from hospital taking the total to 13077 Covid 19 cases in...

    Vadodara Social activist demand completion of work on road from Jeevan Bharti school towards Bahucharaji

    Social activist Kalpesh Parmar from Vadodara city sit on fast till death over the unfinished road from...

    Four persons died in different accidents in Vadodara city and district

    In last 24 hours four persons died in different accidents in Vadodara city and district. Early morning...

    The Union Cabinet, headed by Prime Minister Narendra Modi, on Wednesday approved the merger of state-owned telecom companies – Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL). The Cabinet also announced revival plan for MTNL and BSNL.

    Union Cabinet, Telecom Minister Ravi Shankar Prasad said that Rs 29,937 crore will be given by the Centre in order to revive the two ailing state-owned telecom companies. The Cabinet also approved the proposal to allocate 4G spectrum to Public Sector Enterprises.

    Prasad also told the media that a sovereign bond of Rs 15,000 crore will be raised by the Centre for the revival of MTNL and BSNL. The Union Minister also said that a voluntary retirement scheme will be offered to the employees of these companies to reduce the operational cost of both firms.

    Prasad’s office also posted a tweet saying the merger would be “operationalise gradually”. “BSNL and MTNL are strategic assets of India. They cater to the needs of people during disaster. They provide important communication services to government,” it stated.

    It is to be noted that BSNL has a strength of 1.76 lakh employees and it posted a net loss of ₹13,804 crore in fiscal 2018-19. BSNL and MTNL witnessed 2.15 lakh and 6,701 subscribers exiting their networks in August respectively.

    According to latest TRAI data, private telecom firms held 89.78% market share of the wireless subscribers as on August 31, while the market share of BSNL and MTNL is only 10.22%

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Latest News

    Air services between Bangladesh & India resume under air bubble arrangement

    The air-connectivity between Bangladesh and India resumed on Wednesday with two flights leaving Dhaka under the air-bubble...

    Vadodara Social activist demand completion of work on road from Jeevan Bharti school towards Bahucharaji

    Social activist Kalpesh Parmar from Vadodara city sit on fast till death over the unfinished road from Jeevan Bharti school towards Bahuchapraji...

    Four persons died in different accidents in Vadodara city and district

    In last 24 hours four persons died in different accidents in Vadodara city and district. Early morning on Wednesday a labourer died...

    Air services between Bangladesh & India resume under air bubble arrangement

    The air-connectivity between Bangladesh and India resumed on Wednesday with two flights leaving Dhaka under the air-bubble arrangement between the two countries....

    Rajiv Satav attacked BJP after arrival at Vadodara for Karjan by election campaigning

    As the Gujarat Assembly by-election campaign is in full swing, Rajiv Satav, in-charge of the Gujarat Congress, arrived at the Vadodara International...

    More Articles Like This

    - Advertisement -