Bharat Sanchar Nigam Limited (BSNL) is planning to raise Rs 30 billion through a short-term loan in 2015 to fund its expansion plans. To this end, the company has invited bids for a 12-month loan from public sector banks and private lenders.
BSNL has a huge expansion plan, with capital expenditure of Rs 390 billion for the next five years, with a major portion being invested towards upgrading the data network. The company plans to deploy Wi-Fi hotspots wherever it is commercially viable. It will launch 4G services by 2016.
Meanwhile, BSNL has also invited proposals for launching mobile-based wallet services, in partnership with a bank and other agencies. The service will enable a mobile user to pay for various services such as recharge of prepaid cards and mobile and utility bills, booking film tickets and shopping online. The service will also allow the customer to transfer money through mobile devices.
