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MTNL to be merged with BSNL for revival of govt-owned telecom firms

Agencies
October 23, 2019

New Delhi, Oct 23: The government on Wednesday decided to merge loss-making telecom firms MTNL and BSNL as part of a revival package that includes raising sovereign bonds, monetising assets and voluntary retirement scheme (VRS) for employees.

Briefing reporters on decisions taken by the Cabinet headed by Prime Minister Narendra Modi, Telecom Minister Ravi Shankar Prasad said the government will put in Rs 29,937 crore for revival of the two state-owned telecom companies.

The revival package includes raising of Rs 15,000 crore sovereign bonds and monetising Rs 38,000 crore of assets in next four years.

Also, voluntary retirement will be offered to employees to cut cost, he said.

He said BSNL and MTNL will be merged. Pending this, MTNL will act as a subsidiary of BSNL.

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News Network
May 22,2020

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of COVID-19 induced countrywide lockdown.

As a result, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das. The six-member monetary policy committee (MPC) voted 5:1 in favour of the decision.

Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them. 

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News Network
June 16,2020

New Delhi, Jun 16: With an increase of 10,667 cases and 380 deaths in the past 24 hours, the COVID-19 count in India has reached 3,43,091 on Tuesday, according to the Union Health and Family Welfare Ministry.

It is noteworthy that today's spike in cases is lower than the 11,502 registered in the country yesterday and has also stayed below the 11 thousand mark it had been crossing for the past two days in a row.

However, there is an increase in the number of deaths due to the infection from yesterday, with 380 deaths being reported from across the country, the toll due to COVID-19 has now reached 9,900.

The COVID-19 count includes 1,53,178 active cases, while 1,80,013 patients have been cured and discharged or migrated so far.

Maharashtra with 1,10,744 cases continues to be the worst-affected state in the country with 50,567 active cases while 56,049 patients have been cured and discharged in the state so far. The toll due to COVID-19 has crossed the four thousand mark and reached 4,128 in the state.
It is followed by Tamil Nadu with 46,504 and the national capital with 42,829 confirmed cases.

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Agencies
August 3,2020

New York, Aug 3: The number of coronavirus cases confirmed all over the world has surpassed 18 million, while the global COVID-19 death toll stands at over 687,000 according to data from the Johns Hopkins University's Coronavirus Resource Center.

As of 06:00 Moscow time on Monday (03:00 GMT), there are 18,017,556 confirmed coronavirus cases in the world. The global death toll from COVID-19 stands at 687,930. The number of recovered individuals stands at 10,649,108.

The United States remains the country with the largest number of cases (4,665,932) and the highest COVID-19 death toll (154,841), according to the latest data from the Johns Hopkins University.

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