Narendra Modi’s Cabinet approves merger, VRS, 4G spectrum to revive BSNL, MTNL

NEW DELHI: The Cabinet on Wednesday has approved the revival package for the two ailing telcos— Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL), which includes Rs 15,000 crore infusion via sovereign bonds, a voluntary retirement scheme (VRS) and allocation of fourth-generation (4G) airwaves, besides the merger of the two loss-making state-run operators.

The Rs 15,000 crore worth of sovereign bonds which will be serviced by the two telcos would be given, according to the minister.