The State-owned Bharat Sanchar Nigam Ltd (BSNL) is facing rough weather with reports suggesting that the company might face difficulties in paying salaries to its employees for the month of June because of financial crunch. To help out the operator in this troubled times, the government has requested banks to provide a loan of Rs 850 crore, as per a report by the India Today.
Moreover, the central government has asked the banks to provide Rs 2,500 crore to BSNL so that the telecom operator can function at least for six months. But keeping in view the company’s total debt amount of Rs 13,500 crore, the banks may refuse to provide any financial support, the report added.
The company has been in trouble since past 10 years due to faulty policies of the Central government, said many telecom pundits. After the Reliance Jio’s entry into the telecom market, the situation at the BSNL worsened further. While many telecom players are getting ready or 5G network, the BSNL is testing its 4G network which indicates how far the company has been lagging behind in infrastructure.
Reports said the Department of Telecommunications has asked BSNL not to knock doors of banks for financial help.
If you are a customer of BSNL, there is not much to worry about at present. But in view of the worsening situation, it is advisable to opt for other private operators offering better services.