BSNL Repays Government Rs.2500 Crore towards the notional loan account

Bharat Sanchar Nigam Limited (BSNL) presented a cheque of Rs 2500 crore to Government of India towards the repayment of notional loan given by the Government. CMD, BSNL, Shri A.K. Sinha and Director (Finance), BSNL, Shri S.D. Saxena presented the cheque to Shri Dayanidhi Maran, Minister of Communications & Information Technology here today.

This loan was payable over a period of 15 years. However, the Company has repaid the loan amount well ahead of the due date. The company has been continuously paying dividend to the Government of India and has been a profit making company ever since its inception. So far an amount of Rs. 4500 crore has been paid by BSNL towards repayment of loan.

BSNL has been contributing significant amount to the Central Government exchequer. Last year, a total amount of more than Rs. 11000 crore was paid to the Government by way of Service Tax, Income-tax, dividend and loan repayment etc. This amount is perhaps the highest for the Central Exchequer by any PSU. The amount is further expected to rise due to growth in the business of the Corporation.

BSNL was formed in the year 2000 and in a short period of six years, has emerged as the market leader in the telecom space. BSNL is the largest telecom service provider to the nation. Besides generating telecom infrastructure in the country, the management has successfully been able to meet the challenges of transforming a government department, which was 150 years old, into a successful, competing, marketing savvy and growth oriented PSU. BSNL is one of the flagship companies in the portfolio of Government of India.

Source : Press Information Bureau

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