SME Times is powered by   
Search News
Just in:   • Trump arrives in Japan with N. Korea, Iran on agenda  • Industry seeks amendment of FTP, customs law for exporters  • RBI to inject Rs 15k cr to push durable liquidity  • Exporters congratulate PM Modi  • Cabinet approves dissolution of the 16th Lok Sabha 
Last updated: 15 Mar, 2019  

BSNL.Border.Thmb.jpg BSNL Finance Director replaced amid financial crisis

BSNL.9.jpg
   Top Stories
» Industry seeks amendment of FTP, customs law for exporters
» RBI to inject Rs 15k cr to push durable liquidity
» Exporters congratulate PM Modi
» Cabinet approves dissolution of the 16th Lok Sabha
» RBI may cut rate by 150-200 bps in FY20
SME Times News Bureau | 15 Mar, 2019
Amidst the acute financial crisis at BSNL, the Department of Telecom (DoT) has handed over the responsibility of the Finance Director at the cash-strapped PSU to current Director Mobile as well as fixed line, Vivek Banzal divesting the charge from Sujata Ray.

Official sources said Banzal, who is already holding two key charges, has been given the charge of Finance Director and this was effected by the DoT on February 28.

Banzal would now be looking at all the three key wings -- fixed line, mobile and finance at BSNL.

The sources said that the government decides responsibilites and such things were routine and although more realignment of responsibilities were likely to be effected from DoT in BSNL.

Ray is slated to retire in April.

But it is not clear if any new Finance Director would be appointed shortly or Benzal will be given this post as full time given the poor financial health of the PSU, the post is vital. >

Banzal took charge on March first week as Finance Director.

The reasons for the sudden replacement have not been cited but it was seen in the context of the present cash crunch position of BSNL which is expected to linger on given the low tariff regime and BSNL itself not having full range of services like 4G.

Going through its worst financial crisis, BSNL recently failed to pay salaries for the first time in 19 years.

With heightened competition unleashed by Jio with low tariffs, BSNL's revenues have further dried up as it does not have 4G LTE service. Its loss is at Rs 7,999 crore for 2017-18.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 26 May, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» The Silk Road - A journey through history(1)
» Kokuyo Camlin to focus on notebook segment(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter