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07-06-2023
Cabinet approves $11 billion revival package for telecom firm BSNL:

The Union Cabinet on Tuesday approved an Rs 89,047-crore revival package for state-owned telecom firm BSNL, which will be used to roll out 4G and 5G services, improve its network and expand its reach. The package includes a cash component of Rs 38,964 crore and a non-cash component of Rs 50,083 crore. The cash component will be used to meet the company's immediate working capital requirements, while the non-cash component will be used to convert its statutory dues into equity, merge Bharat Broadband Network Ltd (BBNL) with it and provide it with spectrum.

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