Mahanagar Telephone Nigam (MTNL), the state owned telecom firm which operates in Delhi and Mumbai, has received an approval for the proposal for raising non convertible debentures in the form of bonds worth Rs 3,000 crore for a period of 10 years guaranteed by the Government of India. The board of company at its meeting held on March 25, 2013 has approved for the same.
MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.
