SBI gets prestigious Rs 20,000 cr BSNL account

Sept 25: Pursuant to the decision, DOT has asked the Chief General Managers (CGM) of all its circles to close the Reserve Bank of India (RBI) account by September 30 and open accounts with SBI branches with effect from October one.

Member (Finance) of Telecom Commission S Prasad told a meeting of CGMs called here for reviewing the preparations for corporatisation that as the government status of Department of Telecom Services/Operations would end by September 30, all circles should close account with RBI on that date and open accounts with SBI.

DTS/DTO had a revenue close to Rs 20,000 crore last year and the entire money was being handled through RBI account becasue of its government status. Opening account with a commercial bank has become necessary, owing to the corporation status of the new entity being formed.

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