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Govt decides to merge MTNL, BSNL

The government has decided to merge loss-making telecom firms Mahanagar Telephone Nigam (MTNL) and Bharat Sanchar Nigam (BSNL), as part of a revival package that includes raising sovereign bonds, monetizing assets and voluntary retirement scheme (VRS) for employees.

The government will put in Rs 29,937 crore for revival of the two state-owned telecom companies.

MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India’s key metros — Delhi and Mumbai.

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