[1/2] A man speaks on his mobile phone as he walks past a Bharat Sanchar Nigam Ltd (BSNL) advertisement painted on a wall outside its office in Kolkata, India, August 24, 2017.
REUTERS/Rupak De ChowdhuriBENGALURU, June 7 (Reuters) - India's cabinet on Wednesday approved an 890.47 billion rupee ($10.79 billion) revival package for loss-making Bharat Sanchar Nigam Ltd (BSNL) to help the state-owned telecom operator deploy 4G and 5G services in a market dominated by private players.
"With this revival package, BSNL will emerge as a stable telecom service provider focused on providing connectivity to remotest parts of India," the cabinet said in a statement.
Debt-laden BSNL, grappling with poor infrastructure, has been posting losses for the past 12 years.
The losses narrowed to 69.82 billion rupees in the year ended March 2022 from 74.41 billion rupees a year ago.
Persons:
Vivekanand Subbaraman, Sakshi Dayal, Rama Venkat, Krishna N, Dhanya Ann Thoppil
Organizations:
Nigam Ltd, REUTERS, Sanchar Nigam Ltd, BSNL, Tata Consultancy Services, 5G, Reliance Industries, Bharti Airtel, Vodafone, Das, Thomson
Locations:
Kolkata, India, Chowdhuri BENGALURU, New Delhi, Bengaluru