Is BSNL on the verge of closing?
BSNL is now on the verge of a sell-off or a complete closure as its loss keeps accumulating. The telecom giant has pegged a loss of Rs. 14,000 crores during the financial year of 2018-2019.
What is wrong with BSNL?
BSNL’s loss is estimated to be around Rs 14,000 crore with a decline in revenue to Rs 19,308 crore during 2018-19. Distressed telecom firms Mahanagar Telephone Nigam Ltd (MTNL) and BSNL have been incurring losses and have been facing problems in clearing staff salaries in the recent past.
Why is BSNL in loss?
“The loss has come down mainly due to reduction in employee wages on account of voluntary retirement opted by 78,569 employees,” a BSNL official said. BSNL’s net worth has come down to Rs 51,686.8 crore during FY2021 from Rs 59,139.82 crore in the previous year.
Why did BSNL shut down?
BSNL Will Shut Down In 2 Years If 4G Equipment Not Received, Warns Employees. In the absence of 4G, Government-owned telco Bharat Sanchar Nigam Limited (BSNL) cannot survive in the industry beyond two years, wrote All Unions and Associations of BSNL (AUAB) to Prime Minister Narendra Modi In a letter.
Who owns BSNL now?
Government of India
Bharat Sanchar Nigam Limited/Parent organizations
Bharat Sanchar Nigam Limited (d/b/a BSNL) is a government owned telecommunications service provider headquartered in New Delhi, India. It is under the ownership of Department of Telecommunications, Ministry of Communications, Government of India. It was incorporated on 01 October 2000 by the Government of India.
Did Modi destroyed BSNL?
But then, allegations of irregularities in the tendering process hit the project. Two years later, in 2010, the entire project was scrapped, dealing a crippling blow to BSNL’s expansion plans. The destruction of BSNL started when it was denied to go through with the 94-million line contract.
Will BSNL be sold?
Govt Is Selling BSNL, MTNL Assets To Private Firms; Rs 970 Cr Of Assets Up For Sale! BSNL and MTNL, the two companies, have failed to show any credible turnaround despite being allotted a massive Rs 70,000-crore revival package a while ago.
Why is BSNL so slow?
BSNL’s default DNS servers don’t come set with either Google DNS or OpenDNS, which in long run results slow internet speeds. Having said that, try to always set your default DNS gateway to either Google DNS or OpenDNS for good internet speeds. This is the most common error seen with BSNL broadband users.
How bad is BSNL’s situation?
BSNL is likely to incur a loss of Rs 8,000 crore or above for fiscal 2018, doubling from the previous fiscal. The report also asked the BSNL board to be held responsible for losses and bad business decisions and remove the fixed tenure of the chairman-cum-managing director. The CMD should not be chosen from the government service, the report said.
Will non-allocation make BSNL defunct in next few years?
Non-allocation may de facto make BSNL defunct in mobile services in the next few years, it pointed out. It also said the DoT should work closely with BSNL to identify all lands and buildings that have not yet been transferred to BSNL.
Is BSNL reducing the retirement age to 58?
Meanwhile, BSNL is reportedly mulling to cut 54,000 workers by reducing the retirement age to 58. According to a report published in Deccan Herald, BSNL will also provide voluntary retirement scheme (VRS) to its employees. The move will lead to a reduction in retirement age of BSNL employees to 58 from the present 60 years.
Should BSNL list on stock exchange like other PSUs?
Bharat Sanchar Nigam (BSNL) is 100 per cent government entity. In order to infuse capital and bring in market/financial efficiency, it may be important to think about listing BSNL on the stock exchange like other PSUs such as ONGC, GAIL,NTPC, the report, which was submitted to the DoT last week, stated.