By IANS
New Delhi : The state-run Bharat Sanchar Nigam Ltd (BSNL) could go for a public issue soon to fund its ambitious telecom expansion plan even as it announced a personal insurance cover for its 34 million subscribers.
“We’re looking at it. My officials would take a decision,” Communications Minister A. Raja told reporters Monday about the proposed public issue, as he unveiled the insurance scheme for accidental death and permanent disability.
Senior officials of the state-run company said the telecommunications major had the potential to rope in some Rs.200 billion ($5 billion) even if it diluted only 10 percent of its capital.
Explaining the insurance plan for subscribers, they said it would be available free of cost and the sum insured is to the extent of Rs.50,000. It comes into effect immediately.
The cover is for subscribers of the telecommunications firm’s landline, wireless in local loop (also called fixed wireless) and post-paid mobile phone services, they said.
“Many of the customers are involved in accident-prone occupations like defence services, police, transport, power and self-employed workers,” BSNL said in a statement.
“By virtue of a large customer base, BSNL has been able to work out an innovative insurance policy to cover all these customers against accidental death and/or permanent disability, caused due to an accident.”
Over 10 million BSNL customers live in villages.