BSNL offers insurance cover to subscribers
Special
Correspondent
NEW DELHI: Union Communications and Information Technology Minister A. Raja on
Monday launched a unique initiative of Bharat Sanchar Nigam Limited (BSNL),
giving personal accidental insurance benefit free-of-cost to all its 3.4-crore
fixed-line and mobile subscribers across India. Mr. Raja also said the
Government
was planning to come out with an IPO (initial public offer) of BSNL to fund its
expansion plans.
Speaking on the occasion, Mr. Raja said the scheme that provided insurance
cover of Rs.50,000 will benefit crores of BSNL subscribers (particularly those
in rural and small towns) who constitute over 50 per cent of their subscriber
base. The personal accidental insurance coverage (death and permanent total
disability) scheme, valid to all fixed-line, mobile and WLL subscribers, has
been launched in association with Bajaj Allianz and comes into effect
immediately,
he added.
"BSNL customers, irrespective of age, do not have to fill any form or undergo
any medical examination for the scheme. This scheme would particularly benefit
officers of defence services, police and para-military forces, who have been
posted all over the country. Villagers who do not have insurance cover will
also be among the beneficiaries," Mr. Raja said.
Plans IPO
On the BSNL's IPO issue, the Minister said talks were on to dilute about 10 per
cent of the telecom major's equity to fund pan-India expansion plans. BSNL's
revenue stood at Rs. 39,750 crore in 2006-07, with a net profit of Rs. 7,805
crore. The PSU has an immediate investment plan of Rs. 15,000 crore to expand
its GSM mobile network across the country.
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