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PROJECT REPORT

ON

CASH MANAGEMENT

INBSNLSubmitted in

Partial fulfillments of

BACHELOR OF BUSINESS ADMINISTRATIONProgram of

H.N.B. Garhwal University, SrinagarBatch 2007 2010

INTERNAL GUIDE :- PREPARED BY :

PROF. PRAVEEN KUKERTI ANURADHARAWAT

MANAGEMENT FACULTY BBA- VTH SEMFINANCE EN. NO. : G0710616

SHRI GURU RAM RAI INSTITUTE OF


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TECHNOLOGY & SCIENCE, PATEL NAGAR,DEHRADUN 248001

TO WHOMSOEVER IT MAY

CONCERN

This is to certify that MS ANURADHA RAWAT student of

B.B.A. Vth Sem. Batch 2007-2010 of the institute has successfully

completed her summer training on the topic CASH

MANAGEMENT, BSNL, DEHRADUN, As per the ordinances ofH.N.B. Garhwal University, Srinagar under my guidance and

supervision. While appraising his efforts and conduct.

I wish her all the best for her future endeavors.

Date :

PROF. PRAVEEN KUKRETI

Place: FACULTY (FINANCE)


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DECLARATION

I hereby inform that this dissertation is of my own work in the partial

fulfillment of academic requirement. It is a sole property of SHRI GURU

RAM RAI INSTITUTE OF TECHNOLOGY AND SCIENCE, PATEL

NAGAR, DEHRADUN and it is not allowed to be used, copied or edited by

any person prior written permission has to be taken from the appropriate

authority

SIGNATURE

(ANURADHA KUKRETI)

BBA V SEM


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Preface

As an integral part of the curriculum, I student of BBA, need to get exposed to

the Finance to get a better understanding of Finance, by way of undergoing

practical training.

I consider myself fortunate enough that I had an opportunity to join BSNL,

Dehradun and undergo training at the same, for gaining substantial knowledge

of CASH MANAGEMENT.

A progressive and forward-looking organization strives for the improvement of

the system and procedure so as to improve the organizational effectiveness,

BSNL, Dehradun is one of the pioneers in the Telecom Sector in India.

Finance is the major asset of any organization BSNL has large number of

employees and the management of such a vast number requires a proper mix ofhuman technical and conceptual skills to be effective and meet the

organizational goal.

In the present report, an attempt has been made to study the CASH

MANAGEMENT, BSNL, DEHRADUN.


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ACKNOWLEDGEMENT

The satisfaction and euphoria that accompany a successful completion

of any task would be incomplete without mentioning the people who made it

possible whose consistent guidance and encouragement crowned the efforts

with success.

I would like to thanks for the internal guide PROF. PRAVEEN

KUKRETI, SHRI GURU RAM RAI INSTITUTE OF TECHNOLOGY &

SCIENCE, PATEL NAGAR, (Dehradun,) for his guidance and motivation,

which is pivotal in completion of my dissertation report.

I cannot forget the contribution of my project guide for her able

guidance and support throughout the tenure of the report.

I would express my thanks to BSNL, DEHRADUN as I troubuled them

through my queries at every stage of their work. I am really thankful for their

patience with which they resolve my doubts amidst their busy schedule; I

express my sincere thanks to all of them.

Last but not least, I feel indebted to all those persons who have provided

help directly or indirectly in successful completion of this study

(ANURADHA RAWAT)

BBA VTH SEM.


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CONTENTS

PREFACE

ACKNOWLEDGEMENT

INTRODUCTION

RESEARCH METHODOLOGY

CASH MANAGEMENT IN BSNL

CASH FLOW ANALYSIS

BUDGETING IN BSNL

BANK RECONCILIATION

FINANCIAL ANALYSIS IN BSNL

ANALYSIS OF FINANCIAL STATEMENT (RATIO ANALYSIS)

SWOT ANALYSIS OF BSNL

APPENDIX

CONCLUSION


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INTRODUCTION

COMMUNICATION

Early telecommunications

In the Middle Ages, chains ofbeacons were commonly used on hilltopsas a means of relaying a signal. Beacon chains suffered the drawbackthat they could only pass a single bit of information, so the meaning ofthe message such as "the enemy has been sighted" had to be agreedupon in advance. One notable instance of their use was during theSpanish Armada, when a beacon chain relayed a signal from Plymouthto London signalling the arrival of Spanish ships.

In 1792, Claude Chappe, a French engineer, built the first fixed visualtelegraphy system (or semaphore line) between Lille and Paris.

However semaphore suffered from the need for skilled operators andexpensive towers at intervals of ten to thirty kilometres (six to nineteenmiles). As a result of competition from the electrical telegraph, the lastcommercial line was abandoned in 1880.

Telegraph and telephone

The first commercial electrical telegraph was constructed by SirCharlesWheatstone and Sir William Fothergill Cooke and opened on 9 April1839. Both Wheatstone and Cooke viewed their device as "animprovement to the [existing] electromagnetic telegraph" not as a newdevice.

Samuel Morse independently developed a version of the electricaltelegraph that he unsuccessfully demonstrated on 2 September 1837.

His code was an important advance over Wheatstone's signalingmethod. The first transatlantic telegraph cable was successfullycompleted on 27 July 1866, allowing transatlantic telecommunication forthe first time.

The conventional telephone was invented independently by AlexanderBell and Elisha Gray in 1876. Antonio Meucci invented the first device
http://en.wikipedia.org/wiki/Beaconhttp://en.wikipedia.org/wiki/Spanish_Armadahttp://en.wikipedia.org/wiki/Plymouthhttp://en.wikipedia.org/wiki/Claude_Chappehttp://en.wikipedia.org/wiki/Semaphore_linehttp://en.wikipedia.org/wiki/Lillehttp://en.wikipedia.org/wiki/Electrical_telegraphhttp://en.wikipedia.org/wiki/Charles_Wheatstonehttp://en.wikipedia.org/wiki/Charles_Wheatstonehttp://en.wikipedia.org/wiki/William_Fothergill_Cookehttp://en.wikipedia.org/wiki/Samuel_Morsehttp://en.wikipedia.org/wiki/Morse_codehttp://en.wikipedia.org/wiki/Transatlantic_telegraph_cablehttp://en.wikipedia.org/wiki/Alexander_Graham_Bellhttp://en.wikipedia.org/wiki/Alexander_Graham_Bellhttp://en.wikipedia.org/wiki/Elisha_Grayhttp://en.wikipedia.org/wiki/Antonio_Meuccihttp://en.wikipedia.org/wiki/Beaconhttp://en.wikipedia.org/wiki/Spanish_Armadahttp://en.wikipedia.org/wiki/Plymouthhttp://en.wikipedia.org/wiki/Claude_Chappehttp://en.wikipedia.org/wiki/Semaphore_linehttp://en.wikipedia.org/wiki/Lillehttp://en.wikipedia.org/wiki/Electrical_telegraphhttp://en.wikipedia.org/wiki/Charles_Wheatstonehttp://en.wikipedia.org/wiki/Charles_Wheatstonehttp://en.wikipedia.org/wiki/William_Fothergill_Cookehttp://en.wikipedia.org/wiki/Samuel_Morsehttp://en.wikipedia.org/wiki/Morse_codehttp://en.wikipedia.org/wiki/Transatlantic_telegraph_cablehttp://en.wikipedia.org/wiki/Alexander_Graham_Bellhttp://en.wikipedia.org/wiki/Alexander_Graham_Bellhttp://en.wikipedia.org/wiki/Elisha_Grayhttp://en.wikipedia.org/wiki/Antonio_Meucci


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that allowed the electrical transmission of voice over a line in 1849.However Meucci's device was of little practical value because it relied

upon the electrophonic effect and thus required users to place thereceiver in their mouth to "hear" what was being said. The firstcommercial telephone services were set up in 1878 and 1879 on bothsides of the Atlantic in the cities ofNew Haven and London.

Radio and television

In 1832, James Lindsay gave a classroom demonstration of wirelesstelegraphy to his students. By 1854, he was able to demonstrate atransmission across the Firth of Tay from Dundee, Scotland toWoodhaven, a distance of two miles (3 km), using water as thetransmission medium. In December 1901, Guglielmo Marconiestablished wireless communication between St. John's, Newfoundland(Canada) and Poldhu, Cornwall (England), earning him the 1909 Nobel

Prize in physics (which he shared with Karl Braun). However small-scale radio communication had already been demonstrated in 1893 byNikola Tesla in a presentation to the National Electric Light Association.

On 25 March 1925, John Logie Baird was able to demonstrate thetransmission of moving pictures at the London department storeSelfridges. Baird's device relied upon the Nipkow disk and thus becameknown as the mechanical television. It formed the basis of experimentalbroadcasts done by the British Broadcasting Corporation beginning 30September 1929. However, for most of the twentieth century televisionsdepended upon the cathode ray tube invented by Karl Braun. The firstversion of such a television to show promise was produced by PhiloFarnsworth and demonstrated to his family on 7 September 1927.

Computer networks and the Internet

On 11 September 1940, George Stibitz was able to transmit problemsusing teletype to his Complex Number Calculator in New York andreceive the computed results back at Dartmouth College in NewHampshire. This configuration of a centralized computer or mainframewith remote dumb terminals remained popular throughout the 1950s.However, it was not until the 1960s that researchers started to
http://en.wikipedia.org/wiki/Electrophonic_effecthttp://en.wikipedia.org/wiki/New_Havenhttp://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/James_Bowman_Lindsayhttp://en.wikipedia.org/wiki/Wireless_telegraphyhttp://en.wikipedia.org/wiki/Wireless_telegraphyhttp://en.wikipedia.org/wiki/Firth_of_Tayhttp://en.wikipedia.org/wiki/Dundee,_Scotlandhttp://en.wikipedia.org/wiki/Woodhaven,_Fifehttp://en.wikipedia.org/wiki/Guglielmo_Marconihttp://en.wikipedia.org/wiki/St._John's,_Newfoundland_and_Labradorhttp://en.wikipedia.org/wiki/Poldhuhttp://en.wikipedia.org/wiki/Nobel_Prize_in_physicshttp://en.wikipedia.org/wiki/Nobel_Prize_in_physicshttp://en.wikipedia.org/wiki/Karl_Ferdinand_Braunhttp://en.wikipedia.org/wiki/Nikola_Teslahttp://en.wikipedia.org/wiki/John_Logie_Bairdhttp://en.wikipedia.org/wiki/Selfridgeshttp://en.wikipedia.org/wiki/Nipkow_diskhttp://en.wikipedia.org/wiki/Mechanical_televisionhttp://en.wikipedia.org/wiki/British_Broadcasting_Corporationhttp://en.wikipedia.org/wiki/Cathode_ray_tubehttp://en.wikipedia.org/wiki/Karl_Ferdinand_Braunhttp://en.wikipedia.org/wiki/Philo_Farnsworthhttp://en.wikipedia.org/wiki/Philo_Farnsworthhttp://en.wikipedia.org/wiki/George_Stibitzhttp://en.wikipedia.org/wiki/Teletypehttp://en.wikipedia.org/wiki/Dartmouth_Collegehttp://en.wikipedia.org/wiki/New_Hampshirehttp://en.wikipedia.org/wiki/New_Hampshirehttp://en.wikipedia.org/wiki/Mainframe_computerhttp://en.wikipedia.org/wiki/Electrophonic_effecthttp://en.wikipedia.org/wiki/New_Havenhttp://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/James_Bowman_Lindsayhttp://en.wikipedia.org/wiki/Wireless_telegraphyhttp://en.wikipedia.org/wiki/Wireless_telegraphyhttp://en.wikipedia.org/wiki/Firth_of_Tayhttp://en.wikipedia.org/wiki/Dundee,_Scotlandhttp://en.wikipedia.org/wiki/Woodhaven,_Fifehttp://en.wikipedia.org/wiki/Guglielmo_Marconihttp://en.wikipedia.org/wiki/St._John's,_Newfoundland_and_Labradorhttp://en.wikipedia.org/wiki/Poldhuhttp://en.wikipedia.org/wiki/Nobel_Prize_in_physicshttp://en.wikipedia.org/wiki/Nobel_Prize_in_physicshttp://en.wikipedia.org/wiki/Karl_Ferdinand_Braunhttp://en.wikipedia.org/wiki/Nikola_Teslahttp://en.wikipedia.org/wiki/John_Logie_Bairdhttp://en.wikipedia.org/wiki/Selfridgeshttp://en.wikipedia.org/wiki/Nipkow_diskhttp://en.wikipedia.org/wiki/Mechanical_televisionhttp://en.wikipedia.org/wiki/British_Broadcasting_Corporationhttp://en.wikipedia.org/wiki/Cathode_ray_tubehttp://en.wikipedia.org/wiki/Karl_Ferdinand_Braunhttp://en.wikipedia.org/wiki/Philo_Farnsworthhttp://en.wikipedia.org/wiki/Philo_Farnsworthhttp://en.wikipedia.org/wiki/George_Stibitzhttp://en.wikipedia.org/wiki/Teletypehttp://en.wikipedia.org/wiki/Dartmouth_Collegehttp://en.wikipedia.org/wiki/New_Hampshirehttp://en.wikipedia.org/wiki/New_Hampshirehttp://en.wikipedia.org/wiki/Mainframe_computer


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investigate packet switching a technology that would allow chunks ofdata to be sent to different computers without first passing through a

centralized mainframe. A four-node network emerged on 5 December1969; this network would become ARPANET, which by 1981 wouldconsist of 213 nodes.

ARPANET's development centred around the Request for Commentprocess and on 7 April 1969, RFC 1 was published. This process isimportant because ARPANET would eventually merge with other

networks to form the Internet and many of the protocols the Internetrelies upon today were specified through the Request for Commentprocess. In September 1981, RFC 791 introduced the Internet Protocolv4 (IPv4) and RFC 793 introduced the Transmission Control Protocol(TCP) thus creating the TCP/IP protocol that much of the Internetrelies upon today.

However, not all important developments were made through theRequest for Comment process. Two popular link protocols forlocal areanetworks (LANs) also appeared in the 1970s. A patent for the token ringprotocol was filed by Olof Soderblom on 29 October 1974 and a paperon the Ethernet protocol was published by Robert Metcalfe and DavidBoggs in the July 1976 issue ofCommunications of the ACM.

THE INDIAN TELECOM INDUSTRY

The telecom network in Indias the fifth largest network in the worldmeeting up with global standards. Presently, the Indian telecom industryis currently slated to an estimated contribution of nearly 1% to India'sGDP.

Introduction:-

The Indian Telecommunications network with 110.01 millionconnections is th fifth largest in the world and the second largest amongthe emerging economic! of Asia.Today; it is the fastest growing marketin the world and represents unique opportunities for. Global in the
http://en.wikipedia.org/wiki/Packet_switchinghttp://en.wikipedia.org/wiki/ARPANEThttp://en.wikipedia.org/wiki/Request_for_Commenthttp://tools.ietf.org/html/rfc1http://en.wikipedia.org/wiki/Internethttp://tools.ietf.org/html/rfc791http://en.wikipedia.org/wiki/Internet_Protocolhttp://tools.ietf.org/html/rfc793http://en.wikipedia.org/wiki/Transmission_Control_Protocolhttp://en.wikipedia.org/wiki/Internethttp://en.wikipedia.org/wiki/Local_area_networkhttp://en.wikipedia.org/wiki/Local_area_networkhttp://en.wikipedia.org/wiki/Token_ringhttp://en.wikipedia.org/wiki/Olof_Soderblomhttp://en.wikipedia.org/wiki/Ethernethttp://en.wikipedia.org/wiki/Robert_Metcalfehttp://en.wikipedia.org/wiki/David_Boggshttp://en.wikipedia.org/wiki/David_Boggshttp://en.wikipedia.org/wiki/Communications_of_the_ACMhttp://en.wikipedia.org/wiki/Packet_switchinghttp://en.wikipedia.org/wiki/ARPANEThttp://en.wikipedia.org/wiki/Request_for_Commenthttp://tools.ietf.org/html/rfc1http://en.wikipedia.org/wiki/Internethttp://tools.ietf.org/html/rfc791http://en.wikipedia.org/wiki/Internet_Protocolhttp://tools.ietf.org/html/rfc793http://en.wikipedia.org/wiki/Transmission_Control_Protocolhttp://en.wikipedia.org/wiki/Internethttp://en.wikipedia.org/wiki/Local_area_networkhttp://en.wikipedia.org/wiki/Local_area_networkhttp://en.wikipedia.org/wiki/Token_ringhttp://en.wikipedia.org/wiki/Olof_Soderblomhttp://en.wikipedia.org/wiki/Ethernethttp://en.wikipedia.org/wiki/Robert_Metcalfehttp://en.wikipedia.org/wiki/David_Boggshttp://en.wikipedia.org/wiki/David_Boggshttp://en.wikipedia.org/wiki/Communications_of_the_ACM


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stagnant global scenario. The total subscriber base, which has grownby 40% in 2005, is expected torn reach 250 million in 2008. According

to Broadband Policy 2004, Government of India aims at 9 millionbroadband connections and 18 million internet connections b 2008. Thewireless subscriber base has jumped from 33.69 million in 2004 to62.57 million in fiscal year 2004-2005. In the last 3 years, two out ofevery three new telephone subscribers were wireless subscribers.Consequently, wireless now accounts for 54.6% of the total telephonesubscriber base, as compared to only 40% in 2003. Wirelesssubscribers per month by 2008. The wireless technologies currently inuse are Global System for mobile communications (GSM) and CodeDivision Multiple Access (CDMA). There are primarily 9 GSM and5CDMA operators providing mobile services in 19 telecom circles and 4metro cities, covering 2000 towns across the country.Evolution of the industry-Important Milestones

1851 First operational land lines were laid bay the government nearCalcutta1881 Telephone service introduced in India1883 Merger with the postal system1923 Formation of Indian radio telegraph company (IRT)1932 Nationalization of all foreign telecommunication companies to formthe post, telephone and telegraph (PTT) monopoly run by thegovernment's ministry of communications.1985 Department of telecommunications (dot) established, an exclusiveprovider of domestic and long-distance service that would be its ownregulator (separate from the postal system)1986 Conversion of DOT into two wholly government-ownedcompanies: the vides sanchar nigam limited (VSNLr internationaltelecommunications and mahanagar telephone nigam limited (MTNL)for service in metropolitan area1997 Telecom Regulatory Authority of India created.1997 Cellular services are launched in India. New national telecompolicy is adopted.2000 Dot becomes a corporation, BSNL.


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CHALLANGES AHEAD

During Financial Year 2006-2007(From April 1, 2006 to March 31,2007) BSNL has added 9.6 million new customers in various telephoneservices taking its customer base to 64.8 million. The following are themain challenges faced by BSNL.

Threats from competitor's bsnl's -_BSNL nearest competitor Bharti

Airtel is standing at a customer base of 39 million.

Declining in fixed line customer;- Despite impressive growth shownby BSNL in recent times, the fixed line customer base of BSNL isdeclining. In order to retain its fixed-line customers BSNL has broughtdown long distance calling rate under One India plan; however thesuccess of the scheme is not known. However, BSNL faces bleak fiscal

2006-2007 as users flee, which has been accepted by the CMD BSNLPoor customer services- Presently there is an intense competition inIndian Telecom sector and various telecoms are rolling out attractiveschemes and are providing good customer services. However, BSNLbeing legacy operator and its conversion from a GovernmentDepartment earns lot of criticism for its poor customer service.

Lack of skilled manpower- Although in recent past there have beentremendous improvement in working of BSNL, still it is below theIndustry's expectations. A large aging (average age 49 years (approx))workforce (300,000 strong), which is mostly semi -literate or illiterate isthe main reason for the poor customer service.Lack of active management- Despite all the limitations of a legacy set-up, the management has been striving hard for the growth of the

organization-and has been able to give a tough and sustained fight tothe competition- rather unheard in the Indian PSUs.

Large workforce- Although in coming years the retirement profile ofthe workforce is very fast and around 25% of existing workforce willretire by 2010, still the workforce will be quite large by the industry


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standards. Quality of the workforce will also remain an issue.Access Deficit Charges (ADC, a levy being paid by the private

operators to BSNL for provide service in non-lucrative areas especiallyrural areas) has been slashed by 37% by TRAI, i.e. April 1, 2007. Thereduction in ADC may hit the bottom lines of BSNL.

INDIAN TELECOM ENVIRONMENT-A STEP TOWARDSDEVELOPMENT

Indian telecommunications today benefits from among the mostenlightened regulation in the region, and arguably in the world. Thesector, sometimes considered the "poster- boy for economic reforms",has been among the chief beneficiaries of the post-1991 liberalization.Telecommunications has generally been seen as removed from "massconcerns," and thus less subject to electoral calculations.

Market oriented reforms have also been facilitated by lobbying fromIndia's booming technology sector ,whose continued success of coursedepends on the quality of communications infrastructure . Despiteseveral hiccups along the way, the Telecom Regulatory Authority ofIndia (TRAI), the independent regulator, has earned a reputation fortransparency and competence. With the recent resolution of a majordispute between cellular and fixed operators (see below), Indian

telecommunications, already among the most competitive markets inthe world, appears set to continue growing rapidly. At that time, RajivGandhi proclaimed his intention of "leading India into 21stcentuary," andcarved the Department of Telecommunication (DOT) out of theDepartment of Post and Telegraph. For a time he also even consideredcorporatizing the DOT, before succumbing to union pressure. In acompromise, Gandhi created two DOT-owned corporations: Mahanagar

Telepone Nigam Limited (MTNL), to serve Delhi and Bombay, andVidesh Sanchar Nigam Limited (VSNL), to operate international telecomservices. He also introduced private capital into the manufacturing oftelecommunications equipment, which had previously been a DOTmonopoly.


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INTRODUCTION OF PRIVATE PLAYERS:-

It was not until the early 1990s, when the political situation stabilized,and with the general momentum for economic reforms, thetelecommunications liberazation really took off. In 1994, the governmentreleased its National Telecommunications Policy (NTP-94), whichallowed private fixed operators to take part in the four largestmetropolitan centers in 1992. Under the government's new policy, Indiawas divided into 20 circles roughly corresponding to state boundaries,each of which would contain two fixed operators, and two mobileoperators. As ground-breaking as NTP-94 was, its implementation wasunfortunately marred by regulatory uncertainly and overbidding.A number of operators were unable to live up their profligate bids and ,confronted with far less lucrative networks than they had supposed,pulled out of the country. As a result, competition in India's telecomsector did not really until 1999. At the time the government's NewTelecommunations Policy (NTP-99) switched from a fixed fee license toa revenue sharing regime of approximately 15%. This figure hassubsequently been lowered (to 10%-12%), and is expected to bereduced even further over the coming years. Stoll, India continues toderive substantial revenue from license fee ($800 million in 2001-2002);leading some critics to suggest that the government has abrogated itsresponsibilities as a regulator to those as a seller. Another, perhapseven more significant, problems with India's initial attempts to introducecompetition was the lack of regulatory clarity, Private operatorscomplained that the licensor-the DOT- was also the incumbent operator.It was in response to such concerns that the 9 government in 1997 setup the Telecom Regulatory Authority of India (TRAI), the nation's firstindependent telecom regulator.


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INDUSTRY INSIGHTTelecommunication Industry is one of the fastest growing telecom

markets in the world. The mobile sector has grown from around 10million subscribers in 2002 to reach 150 million by early 2007registering an average growth of over 90% yoy. The two major reasonsthat have fuelled this growth are low tariffs coupled with falling handsetprices.Surprisingly, CDMA market has increased it market share up to 30%thanks to Reliance Communication. However, across the globe, CDMA

has been loosing out numbers to popular GSM technology, contrary tothe scenario in India. The other reason that has tremendously helpedthe telecom Industry is the regulatory changes and reforms that havebeen pushed for last 10 years by successive Indian governments.According to Telecom Regulatory Authority of India (TRAI) the rate ofmarket expansion would increase with further regulatory and structuralreforms.Even though the fixed line market share has been droppingconsistently, the overall (fixed and mobile) subscriber has risen to morethan 200 million by first quarter of 2007. The telecom reforms haveallowed the foreign telecommunication companies to enter Indianmarket which has still got huge potential. International telecomcompanies like Vodafone have made entry into Indian market in a bigway.Currently the Indian Telecommunication market is valued at around$100 billion (Rupees 400,000 Crore). Two telecom players dominatethis market -Bharti Airtel with 27% market share and RelianceCommunication with 20% along with other players like BSNL (BharatSanchar Nigam Limited) and AT&T. One segment of the market thathas been puzzling is broadband Internet. Despite the manner in whichthe country's Internet market has been booming, India's move into high-speed broadband Internet access has been distinctly slow. And, whilethere appears to be considerable enthusiasm amongst the populationfor the Internet itself, this has not been reflected in broadbandsubscription numbers. In 2006 India witnessed a good surge inbroadband users with the total subscriber base in the countryexpanding by almost 200% to just over 2 million by years end. Despite


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this surge, broadband penetration in India still remains around only0.2%; broadband services still account for only 25% of the total Internet

subscriber base, still in itself comparatively low.The Ministry of Communications and Information Technology (MCIT) ishas very aggressive plans to increase the pace of growth, targeting 250million telephone subscribers by end-2007 and 500 million by 2010.Most of the expansion in subscribers is set to occur in rural India. India'srural telephone density has been languishing at around 1.9%; so, if 70%of total population is rural, the scope for growth in this Industry is

unprecedented.GSM and CDMA subscription numbers:

Year

GSMSubscribers(millions)

GSMAnnualgrowth

CDMASubscribers(millions)

CDMAAnnualgrowth

200 3.1 94% - -

200 5.05 76% - -200 10.5 91% 0.8 -

200 22.0 110% 6.4 700%

200 ^7.4 70% 10.9 70%

200 58.5 57% 19.1 75%

200 105.4 80% 44.2 131%

200 180.0 71% 85.0 92%


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OVERVIEW OF INDIAN TELECOM INDUSTRY SIZE

India is the fifth largest telecom services market in the world;

$17.8 billion revenues in FY 2005

Industry grew by about 36% in FY 2005 over FY 2004

119 million subscribers - 48 million fixed lines and 71 millionwireless -November 2005

Telecom market has grown at about 25% p.a. over the last 5years

Wireless segment subscriber base grew at 85% p.a.; fixedline segment at about 10% p.a.

STRUCTURE

The Indian telecom market has both public and private sectorcompaniesparticipating

Public sector has over 60% market share, down from over 90% in2000

Private companies have added subscribers at a CAGR of 192%since2000

Mobile operators have deployed both CDMA (16 million users)andGSM(55 million users) wireless networks

Value added service features constitute 10% of revenue today(2% in 2001)

POLICY

74% to 100% FDI permitted for various telecom services (fordetails, please refer to table under Sector caps & entity routes)

FIPB approval required for foreign investment exceeding 49% inalltelecom services

100% FDI permitted in telecom equipment manufacturing.


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India has a telecom policy that aims to encourage private andforeign investment. Highlights are:

An independent regulator - the Telecom Regulatory Authority ofIndia (TRAI) Revenue-share model for licenses issued by theGovernment for telecom services in India. Unified access licencesare available for providingtelecom services on a pan-India basis

Planned opening up of National Long Distance (NLD),International Long Distance (ILD) and other value added services.


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OUTLOOK

India expected to be among the fastest growing telecom marketsin theworld

Projected growth of 30-40% p.a. to reach 250 million subscribersby2009-2010

Over 3 million new users are added every month - mostly inwireless

POTENTIAL

Favourable demographics and socio economic factorsleading to high growth:

Growth of disposable income combined with changes in lifestyle

Increasing affordability - low tariffs, easy payment plans and

handset financing

Increased coverage and availability of mobile services

Investment opportunity of $22 billion across many areas

Telecom Devices and Software for Internet, Broadband andDirect To Home Services. Set Top boxes, Gateway exchange,

Modem, Mobile handsets and consumer premise equipments,Gaming devices, EPABX, Telecom Software

Telecom Services for voice and data via a range of technologies.

Applications and Content development ranging from gaming toeducation

Nokia, Escotel, Alcatel, LG, Ericsson are all investing in India

CELLURAR OPERATORS IN INDIA

Airtel

Bharat Sanchar Nigam

Vodafone


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Idea Cellular

MTNL Reliance Infocomm

Tata Indicom

Telecom Regulatory Authority of India (TRADThe Telecom Regulatory Authority of India (TRAI) was established

under the Telecom Regulatory Authority of India Act, 1997 enacted on28th March 1997. The TRAI (Amendment) Act, 2000 led toreconstitution of the Authority. It consists of one Chairperson, two full-time members and two part-time members. TRAI has endeavoured toencourage greater competition in telecom sector together with betterquality and affordable prices, in order to meet the objectives of NTP'99.Vide Notification of the Government dated 9th January 2004,

broadcasting and cable services have also been included in thedefinition of'telecommunication service' under the TRAI Act, and thus,broadcasting and cable services have also come under the purview ofTRAI.

Functions of TRAI

Under section 11(1) (a) of the TRAI Act, the TRAI is tomake recommendations either suo- moto or on a request from thelicensor on the following matters:(i) Need and timing for introduction of new service providers,(ii) Terms and conditions of license to service providers,(iii) Revocation of license for non-compliance of the terms and

conditions of license

(iv) Measures to facilitate competition and promote efficiency in theoperationof telecommunication services,

(v) Technological improvements in the services provided by theserviceproviders,

(vi) Type of equipment to be used by the service providers afterinspection of the equipment used in the network,


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(vii) Measures for the developments of telecommunication technology,(viii) Efficient management of the available spf ctrum.

Under section 11(1) (b) of the TRAI Act, TRAPs regulatoryfunctions are:(i) Ensure compliance of the terms and conditions of license,(ii) Fix the terms and conditions of inter-connectivity between the

serviceproviders,(iii) Ensure technical compatibility and effective interconnection

between different service providers,

(iv) Regulate arrangement amongst service providers of sharing theirrevenue derived from providing telecommunications services, 12

(v) Lay down the standards of quality of service to be provided by theserviceproviders and ensure the quality of service and conductperiodical survey of such service provided by the serviceproviders so as to protect the interest of theconsumers,

(vi) Lay down and ensure the time period for providing local and long

distance circuits of telecommunication between different serviceproviders.

(vii) Maintain register of interconnection agreements and all suchother mattersas may be provided in the regulations,

(viii) Ensure effective compliance of universal service obligations.


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Under section 11(1) (c) & (d) of the TfrAI Act, TRAPs otherfunctions are;

(i) Levy fee and other charges at such rates and in respect of suchservices as may be determined by regulations,

(ii) Perform such other functions including administrative andfinancial functions as may be entrusted to it by the CentralGovernment or as may be necessary to carry out the provisionsof the TRAI Act, As per section 11(2) of the TRAI Act, the function

of the Authority is to notify from time to time in the Official Gazettethe rates at which the telecommunication services within Indiaand outside India shall be provided under the TRAI Act includingthe rates at which messages shall be transmitted to any countryoutside India.In addition to the above, in exercise of the powers conferred byclause (d) of subsection (1) of section 11 of the TRAI Act, the

Central Government has entrusted additional functions to TRAI inrespect of broadcasting and cable services which mandates TRAIto make recommendations regarding the terms and conditions onwhich the "Addressable systems" shall be provided to thecustomers.


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Telecom Disputes Settlement & Appellate Tribunal (TDSAT)

Telecom Disputes Settlement & Appellate Tribunal (TDSAT) wasestablishedin the year 2000 by Government of India after amending theTelecom Regulatory Authority of India Act, 1997. The Tribunal consistsof a Chairperson, and two members. The TDSAT adjudicates disputesbetween licensor and licensee, between two or more service providers,between a service provider and a group of consumers and hear and

dispose of appeals against any decision or order of the TelecomRegulatory Authority of India. The Tribunal has original as well asappellate jurisdiction. As per Section 16 (1) of the Act, the AppellateTribunal is not bound by the procedure laid down by the Code of CivilProcedure but is guided by the Principals of Natural Justice and subjectto the other provisions of the Act, the Appellate Tribunal has powers toregulate its own procedure. In exercise of the powers conferred by the

proviso to clause (k) of sub-section (l)of Section 2 of the TelecomRegulatory Authority of India Act, 1997 (24 of 1997), the 13 CentralGovernment by Notification No. 44(E). dated 9.1.2004 notified the"broadcasting services" and "cable services" to be "telecommunicationservice".

Types of Cellular Technology in India

In India we use two types of cellular technology:

a) GSM

b) CDMA

GSM


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GSM is termed "Global System for Mobile communications". It is themost popular standard for mobile phones in the world. GSM service is

used by over 2 billion people across more than 212 countries andterritories.

The ubiquity of the GSM standard makes international roaming verycommon between mobile phone operators, enabling subscribers to usetheir phones in many parts of the world.

GSM provides both signaling and speech channels in Digital callquality, which means that it is considered a second generation (2G)mobile phone system/technology.

This was the first cellular technology to be introduced in India. Most ofthe Mobile Operators in India use this Technology.

Global System for Mobile communications (GSM):

Originally from Groupe Special Mobile) is the most popular standard formobile phones in the world. Its promoter, the GSM Association,estimates that the GSM service is used by over 2 billion people acrossmore than 212 countries and territories.[1][2] Its ubiquity makesinternational roaming very common between mobile phone operators,enabling subscribers to use their phones in many parts of the world.GSM differs significantly from its predecessors in that both signaling

and speech channels are digital call quality, and so is considered asecond generation (2G) mobile phone system. This has also meant thatdata communication were built into the system using the 3rd GenerationPartnership Project (3GPP).

The GSM logo is used to identify compatible handsets and equipment


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The key advantage of GSM systems to consumers has been higherdigital voice quality and low cost alternatives to making calls, such as

the Short message service (SMS, also called "text messaging"). Theadvantage for network operators has been the ease of deployingequipment from any vendors that implement the standard.t3] Like othercellular standards, GSM allows network operators to offer roamingservices so that subscribers can use their phones on GSM networks allover the world.

Newer versions of the standard were backward-compatible with theoriginal GSM phones. For example, Release '97 of the standard addedpacket data capabilities, by means of General Packet Radio Service(GPRS). Release '99 introduced higher speed data transmission usingEnhanced Data Rates for GSM Evolution (EDGE).


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HISTORY OF GSM

The growth of cellular telephone systems started in the early 1980s,particularly in Europe. The lack of technological standardizationprompted the European Conference of Postal and TelecommunicationsAdministrations (CEPT) to create the Groupe Special Mobile (GSM) in1982 with the objective of developing a standard for a mobile telephonesystem that could be used across Europe.

CDMA

CDMA is termed as "Code division multiple access". It is a form ofmultiplexing and a method of multiple access that divides up atradiochannel not by time (as in time division multiple access), nor byfrequency (as in frequency-division multiple access), but instead by

using different pseudorandom code sequences for each user.

2G

2G (or 2-G) is short for second-generation wireless telephonetechnology.

The main differentiator to previous mobile telephone systems,retrospectively dubbed 1G, is that the radio signals that 1G networksuse are analog, while 2G networks are digital. Both systems use digitalsignaling to connect the radio towers (which listen to the handsets) tothe rest of the telephone system.

2.5G services enable high-speed data transfer over upgraded existing

2G networks. Beyond 2G, there's 3G, with higher data speeds, and 4G,with even higher data speeds, to enable new services for subscribers,such as picture messaging and video telephony.

Capacities, advantages, and disadvantages


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Capacity

Using digital signals between the handsets and the towers increasessystem capacity in two key ways:

Digital voice data can be compressed and multiplexed much moreeffectively than analog voice encodings through the use ofvarious CODECs, allowing more calls to be packed into the sameamount of radio bandwidth.

The digital systems were designed to emit less radio power fromthe handsets. This meant that cells could be smaller, so morecells could be placed in the same amount of space. This w$ alsomade possible by cell towers and related equipment getting lessexpensive.

Advantages

Digital systems were embraced by consumers for several reasons.

The lower powered radio signals require less battery power, sophones last much longer between charges, and batteries can besmaller.

The digital voice encoding allowed digital error checking which

could increase sound quality by reducing dynamic and loweringthe noise floor.

The lower power emissions helped address health concerns. Going all-digital allowed for the introduction of digital data

services, such as SMS and email.

A key digital advantage not often mentioned is that digital cellular calls

are much harder to eavesdrop on by use of radio scanners. While thesecurity algorithms used have proved to not be as secure as initiallyadvertised, 2G phones are immensely more private than 1G phones,which have no protection whatsoever against eavesdropping.

Disadvantages


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The downsides of 2G systems, not often well publicized, are:

In less populous areas, the weaker digital signal will not besufficient to reach a cell tower.

Analog has a smooth decay curve, digital a jagged steppy one. This canbe both an advantage and a disadvantage. Under good conditions,digital will sound better. Under slightly worse conditions, analog willexperience static, while digital has occasional dropouts. As conditionsworsen, though, digital will start to completely fail, by dropping calls or

being unintelligible, while analog slowly gets worse, generally holding acall longer and allowing at least a few words to get through. With analogsystems it was possible to have two or more "cloned" handsets that hadthe same phone number.

3G

3G is the third generation of mobile phone standards and technology,after 2G. It is based on the International Telecommunication Union(ITU) family of standards under the International MobileTelecommunications programme, "IMT-2000". 3G technologies enablenetwork operators to offer users a wider range of more advancedservices while achieving greater network capacity through improvedspectral efficiency. Services include wide-area wireless voice telephony

and broadband wireless data, all in a mobile environment.

Unlike IEEE 802.11 networks, 3G networks are wide area cellulartelephone networks which evolved to incorporate high-speed internetaccess and video telephony. IEEE 802.11 networks are short range,high-bandwidth networks primarily developed for data.

By June 2007 the 200 millionth 3G subscriber had been connected. Outof 3 billion mobile phone subscriptions worldwide this is only 6.7%. Inthe countries where 3G was launched first - Japan and South Koreaover half of all subscribers use 3G. In Europe the leading country isItaly with a third of its subscribers migrated to 3G. Other leadingcountries by 3G migration include UK, Austria and Singapore at the20% migration level. A confusing statistic is counting CDMA 2000 Ix


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RTT customers as if they were 3G customers. Ifusing this oft-disputeddefinition, then the total 3G subscriber base would be 475 million at

June 2007 and 15.8% of all subscribers worldwide.

Features

The most significant feature of 3G mobile technology is that it supportsgreater numbers of voice and data customers especially in urban

areas and higher data rates at lower incremental cost than 2G.

It also allows the transmission of 384 kbit/s for mobile systems and 2Mb/s for stationary systems. 3G users are expected to have greatercapacity and better spectrum efficiency, which allows them to accessglobal roaming between different 3G networks.


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EVOLUTION TO 3G

Cellular mobile telecommunications networks are being upgraded touse 3G technologies from 1999 to 2010. Japan was the first country tointroduce 3G nationally, and in Japan the transition to 3G was largelycompleted in 2006.

MAJOR MARKET TRENDS

The telecoms trends in India will have a great impact on everything fromthe humble PC,internet,broadband,(both wireless and fixed),and cable,handset festures,talking SMS,IPTV,soft switches, and managedservices to the local manufacturing and supply chain. This reportdiscusses key trends in the Indian telecom industry, their drivers and

major impacts of such trends affecting mobile operators, infrastructureand hand set vendors.

HIGHER ACCEPTANCE FOR WIRELESS SERVICESIndian customers are embracing mobile technology in a big way (anaverage of four million subscribers added every month for the past sixmonth itself). They prefer wireless services compared to wire-line

services, which is evident from the fact that while the wirelesssubscriber base has increased at 75 percent from 2001 to 2006, thewire line subscriber base growth rate is negligible during the sameperiod. In fact, many customers are returning their wire-line phones totheir service providers as mobile provides a more attractive andcompetitive solution.


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MERGERS

Demand for new spectrum as the industry grows and the fact the

spectrum allocation done on the basis of subscribers will forcecompanies to merge so as to claim large number of subscribers to gainmore spectrum as a precursor to the launch of larger and expandedservices. However it must also be noted that this may never happen onaccount of low telecom penetration.

Major Players of Telecom Industry in IndiaThere are three types of players in telecom services: State owned companies (BSNL and MTNL) Private Indian owned companies (Reliance Infocom,Tata

Teleservices ,) Foreign invested companies(Vodafone-Essar , Bharti Tele-

Ventures, Escotel, Idea Cellular, BPL Mobile, SpiceCommunications)

BHARAT SANCHAR NIGAM LIMITEDOn October 1, 2000 the Department of Telecom Operations,Government of India's leading Telecommunications Companyand the largest public sector undertaking. It has a network of over45 million lines covering 5000 towns with over 35 milliontelephone connections. The state-controlled BSNL operatesbasic, cellular (GSM and CDMA) mobile, Internet and longdistance services throughout India (expect Delhi and Mumbai).BSNL will be expanding the network in line with the Tenth Five-Year Plan (1992-97). The aim is to provide a telephone density of9.9 per hundred by March 2007 .BSNL, which became the thirdoperator of GSM mobile services in most circles, is now planningto overtake Bharti to became the largest GSM operator in thecountry. BSNL is also the largest operator in the Internet market,with a share of 21 per cent of the entire subscriber base.

BHARTI AIRTELIt was established in 1985, Bharti has been a pioneering force inthe telecom sector with many firsts and innovations to its credit,ranging from being the first mobile services in Delhi, first private


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basic telephone service provider in the country, first Indiancompany to provide comprehensive telecom services outside

India in Seychelles and first private sector service provider tolaunch National Long Distance Services in India. Bharti Tele-Ventures Limited was incorporated on July 7, 1995 for promotinginvestments in telecommunications services. Its subsidiariesoperate telecom services across India .Bharti, s operations arebroadly handled by two companies: The Mobility group:- whichhandles the mobile services in 16 circles out ofa total 23 circles

across the countryInfotel group:- which handles the fixed line, broadband, data, and

satellite-based services. Together they have so far deployedaround 23,000km of optical fiber cables across the country,coupled with approximately 1,500 nodes, and presence in around200 locations. The group has a total customer base of 6.45million, of which 5.86 million are mobile and 588, 000 fixed line

customers, as of January 31, 2004. In mobile, Bharti footprintextends across 15 circles. Bharti Tele-Ventures, strategicobjective is: to capitalize on the growth opportunities the companybelieves are available in the Indian telecommunications MARKETAND consolidate its position to be the leading integratedtelecommunications services provider in key markets in India,with a focus on providing mobile services".

MAHANAGAR TELECOM NIGAM LIMITEDMTNL was set up on 1st April 1986 Government of India toupgrade the quality of telecom services, expand the telecomnetwork, and introduce new services and to raise revenue fortelecom development needs of India's key metres-Delhi, thepolitical capital, and Mumbai, the business capital. In the past 17years, the company has taken rapid strides to emerge as India'sleading amd one of Asia's largest telecom operatingcompanies .The Company has also been in the forefront oftechnology induction by converting 100% of its telephoneexchange network into the state-of-the-art digital mode. The Govt.of India currently holds 56.25% stake in the company. In the year2003-04, the company's focus would be not only consolidating the


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million shareholders. Tata Teleservices provides basic (fixed lineservices), using CDMA technology in six circles: Maharastra

(including Mumbai), New Delhi, Andhra Pradesh, Tamil Nadu,Gujarat, and Karnataka. It has over 800,000 subscribers. It hasnow migrated to unified access licenses, by paying a Rs. 5.45billion ($120 million) fee, which enables it to provide fully mobileservices as well. The company is also expanding its footprint, andhas paid Rs. 4.17 billion ($90 million) to DOT for new licensesunder the IUC (interconnect usage charges) regime. The new

licenses, coupled with the six circles in which it almost on par withbsnl and Reliance Infocom. In august 2004 the company startedoff services in 11 new circles. These circles include Bihar,Haryana, Himachal Pradesh, Kerala, Kolkata, Orissa, Punjab,Rajasthan, Uttar Pradesh, and Uttarakhand.

VIDESH SANCHAR NIGAM LIMITEDOn April 1, 1986, the Videsh Sanchar Nigam Limited (VSNL) - a

wholly Government corporation. The company operates anetwork of earth stations, switches, submarine cable systems,and value added services nodes to provide a range of basic andvalue added services and has a dedicated work force of about2000 employees. VSNL's main gateway centers are located atMumbai, New Delhi, Kolkata and Chennai. The internationaltelecommunication circuits are derived via Intelsat and Inmar sat

satellites and wide band submarine cable systems e.g. FLAG,SEA-ME-WE-2 and SEA-ME-WE-3. The company's ADRs arelisted on the NEW YORK Stock Exchange and its share is listedon major Stock Exchanges in India. TheIndian Government ownsapproximately 26 percent equity, M/s Panatone Finvest Limitedas investing vehicle of Tata Group owns 45 percent equity andthe overseas holding (inclusive of FIIs, ADRs,Foreign Banks) is

approximately 13 per cent and the rest is owned by Indianinstitutions and the public. The company provides internationaland Internet services as well as a host of value- added services.Its revenues have declined from Rs.70.89 billion ($1.62 billion) in2001-02 to Rs.48.12 billion ($1.1 billion) in 2002-03, with voicerevenues being the mainstay. To reverse the falling revenue


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trend, VSNL has also started offering domestic long distanceservices and is launching broadband services.

VODAFONEHutch's presence in India dates back to late 1992, when theyworked with local partners to establish a company licensed toprovide mobile telecommunications services in Mumbai.Commercial operations began in November 1995. Between 2000and March 2004, Hutch acquired further operator equity interestsor operating licenses. With the completion of the acquisition of

BPL Mobile Cellular Limited in January 2006, it now providesmobile services in 16 of the 23 defined license areas across thecountry. Hutch India has benefited from rapid and profitablegrowth in recent years. It had over 17.5 million customers by theend of June 2006 on 19 February 2007 the Hutch was acquiredby a foreign company Vodafone.


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IDEA

Indian regional operator IDEA Cellular Ltd. has a new ownership

structure and grand designs to become a national player, but indoing so is likely to become a thorn in the side of reliancecommunication Ltd. IDEA operator in thirteen telecom "circles."Or regions, in India, and has received additional GSM licenses toexpend its network into three circles in Eastern India-the firstphase of a major expansion plan that intends to fund through anIPO, according to parent company. Aditya Birla Group.

COMPANY'S MARKET SHARESCompany Name Subscriber in

Million% Market Share

BSNL 40.3 49.8

Reliance 6.1 12.9

Bharti Airtel 10.7 18.2

MTNL 4.9 7.2

Vodafone 3.8 4.2

IDEA Cellular 2.1 3

TATA Teleservices 1.3 1.9

Spice 1 1.3

Aircel 0.9 1.2

Hexacom 0.2 0.3Shyam Telelink 0.1 0.2


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RESEARCH METHODOLOGY

Problem Statement:

As Cash management is the backbone of an organisation so this studyis being conducted to assess the various liquidity ratios and for thesafety of organisation. Since cash management studies the analysisand budgeting which will effect the performance of the BSNL in future.

OBJECTIVE

To study the cash flow statement of BSNL. To study the Fund flow statement of BSNL. To study the budgeting of BSNL. To study the financial analysis of BSNL. To study the ratio analysis of BSNL.

RESEARCH DESIGN

Research design is based on the 'Descriptive Method' so as todescribe the characteristics of the market.

Analysis DesignThe analysis design used in the project is :

1. Financial Report2. Budgeting3. Fund flow analysis4. Ratio Analysis

RESEARCH METHODOLOGYFollowing in order to complete project on cash flow report of BSNL,

following methodology has been adopted.The very first step taken by me is that I have collected all the cash flowreports, profit & loss reports & companies investing activity report foranalysis, after that I have extracted The details which will be needed forcash flow analysis of current year with previous year.There are two types of data collection: PRIMARY DATA SECONDARY


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DATAPRIMARY DATA

It means collection of information for the first time. In order to collectsuch type of information a questionnaire is to be constructed andinformation should be collected from the respondent.SECONDARY DATASecondary data is that which has already been collected by otherssince my project is based on the data which has already been collectedby the Bharat Sanchar Nigam Limited.

In my project report the data has been collected from both regionaloffice as well as circle office of BSNL.For the collection of this data I have met Mr. Kamlesh Sharma (JuniorAccount Officer) TRA of the regional office & Mr. Sisir Rajpal Kumar(Account Officer) TRA of circle office of BSNL Dehradun.


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CASH MANAGEMENT IN BSNL

Cash management is a term for certain services offered primarily tolarger business customers. This is the producers for Governmentagencies to follow to ensure prudent cash management practices whendeveloping and implementing regulations, systems, and instructions.These procedures include billings, collections, deposits, disbursements,cash held outside the cash account of the Department and financialdata reporting. These producers also require the use of timely methods,

principally Electronic Fund Transfer (EFT) for the collection, deposit,and disbursement of funds. It may be use to describe all the bankaccounts such as checking, collection, operation account etc. providedto businesses of a certain size, but it is more often used to describespecific services such as cash concentration, zero balance accounting,and automated clearing house facilities. Sometimes even a private bankcan be hire to provide a cash management service for the company

even Bharat Sanchar Nigam limited also planning to outsource its cashmanagement service. The following is the list of services generallyoffered by banks and utilized by larger businesses and corporations likeBSNL.

Account Reconcilement Services: Balancing a checkbook can bedifficult process for a very large business, since it issues so many

checks it can take a lot of human monitoring to understand whichchecks have not cleared and therefore what the company's truebalance is. To get around this, banks have developed a systemwhich allows companies to upload a list of all the checks that theyissue on a daily basis, so that at the end of the month the bankstatement will show not only which checks have cleared, but alsowhich have not.

More recently, banks have used this system to prevent checksfrom being fraudulently cashed if they are not in the list, aprocess known as positive pay.

Advanced Web Services; Most banks have an internet-basedsystem which is more advanced than the one available to theconsumers. This enables manager to create and authorize


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special internal logon credentials, allowing employees to sendwires and access other cash management features normally not

found on the consumer web site.

Armored Car Services: Large retailers who collect a great dealof cash may have the bank picks this cash up via an armored carcompany, instead of employees depositing the cash.

Automated Clearing House; services are usually offered by the

cash management division of bank. The Automated ClearingHouse is an electronic system used to transfer funds betweenbanks. Companies use this to pay others, especially employees(this is how direct deposit works). Certain companies also use itto collect funds from customers (this is generally how automaticpayment plans work). This system is the subject of the consumergroups, because under the system all banks assume that the

company initiating the debit is correct until proven otherwise. Balance Reporting Services; corporate clients who actively

manage their cash balances usually subscribe to secure web-based reporting of their account and transaction information attheir lead bank. These sophisticated compilations of bankingactivity may include balances in foreign currencies, as well asthose other banks.

They include balances of foreign currencies, as well as those atother banks. They include information of cash positions as wellas 'float' (e.g., checks in process of collection). Finally, they offertransaction-specific details on all forms of payment activity,including deposits, checks , wire transfer, ACH (automatedclearing house debits and credits), investments etc.

Cash Concentration Service; Large or national chain retailersoften are in areas where their primary bank does not havebranches. Therefore, they open bank accounts at various localbanks in the area. To prevent funds in these accounts from beingidle and not earning sufficient interest, many of these companies


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have an agreement set with their primary banks uses theAutomated Clearing House to electronically "pull" the money from

these banks into a single interest-bearing bank account.

Lockbox services; often companies (such as utilities ) whichreceive a large number of payments via checks in the mail havethe bank set up a post office box from them, open their mail, anddeposit any check found. This is referred to as "lockbox" service.

Positive Pay; Positive pay service where by the companyelectronically share its check register of all written checks withthe bank. The bank therefore will only pay checks listed in theirregister, with exactly the same specifications as listed in theirregister (amount, payee, serial number, etc.). This systemdramatically reduces check fraud.

Sweep Accounts; are typically offered by the cash managementdivision of bank. Under this system, excess funds from a company'sbank account are automatically moved into a money market mutualfund overnight, and then moved back the next morning. This allowsthem to earn interest overnight. This is primary use of money marketmutual funds.

Zero Balance Accounting; can be thought of somewhat of a hack.

Companies with large number of stores or location can very often beconfused if all those stores are depositing into a single bank account.Traditionally, it would be impossible to know which deposits were fromwhich stores, without seeking to view images of those deposits. To helpthis problem, banks developed a system where each store is given theirown bank account, but all the money deposited in the store account isautomatically moved into the company's main bank account. This

allows the company to look at individual statements for each store. USBanks at present time, however, are almost all converting their systemsso that companies can tell which store made a particular deposit even ifthese deposits are all being done into one account. Therefore, zerobalance accounting is being used less frequently.


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Wire Transfer; A wire transfer is an electronic transfer of funds. Wiretransfer can be done by a simple bank account transfer, of cash at the

cash office. Bank wire transfers are often the most expedient method oftransferring funds between bank accounts. A bank wire transfer is amessage to the receiving bank requesting them to effect payment inaccordance with the instructions. The actual wire transfer itself isvirtually instantaneous, requiring no longer for transmission than atelephone call.

Controlled Disbursement: This is another product offered bybanks under Cash Management Services .The bank provides adaily report, typically early in the day, that provides the amount ofdisbursement that would be charged to the customer's account.This early knowledge of daily funds requirement allows thecustomer to invent any surplus in intraday investmentsopportunities, typically money market. This is different from

delayed disbursement, where payments are issued through aremote branch of a bank and customer is able to delay thepayment due to increased float time.

Scope and Applicability

These procedures apply to all Government agencies, unlessspecifically exempted by statue, whose financial transactions

directly or indirectly affect the cash account of Treasury. Thefollowing regulations establish the policy of cash managementpractices within the Government.

Cash Management-

Practices and techniques designed to accelerate and controlcollections, ensure prompt deposit of receipts, improved controlover disbursement methods, and eliminate idle cash balances.

Cash Management Improvements Fund-

A revolving fund financed by assessment against an agency fornoncompliance with collection or deposit improvements. Moneysfrom this fund will be made available, without fiscal year limitation,for payment or expenses incurred in developing andimplementing selected projects that provide for improved


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methods of collection and deposit.


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Cash Management Review-A comprehensive and ongoing study of an agency's cash-flows

and corresponding cash management process or mechanism,conduct to identify opportunities for improvement in an agency'scash management practices. This review is a major part of theCurrent Assets Management Review and Analysis (CAMRA)

Current Assets Management Review and Analysis (CAMRA)-A process to assess and improve the management of federalagency finances through electronic data collection. The Cash

Management Review is a major part of CAMRA.Billings and Collections: Agencies responsible for the preparationof invoices to individuals and organization will adhere to thefollowing:

Ensure that an invoice, for either an actual or estimated amount, isprepared and mailed within 5 business days after the day goodhave been shipped or released, services have been rendered, or

payment is otherwise due. Agencies may prepare and mail aninvoice later than 5-day timeframe if they can demonstrate that itis cost effective to do so.

Include a payment due date on the invoice that will not be morethat will more than 30 days from the date of the invoice, unlessotherwise provided by the law.

If the value of the goods or services cannot be specifically

determined, a bill equal to at least 75 percent of the estimatedvalue will be prepared and mailed within 5 business days. Identifythe estimated invoice as being a partial invoice and note that afinal invoice will be completed when the value is determined.

Prepare and mail a final invoice within 30 days of submission ofan estimated partial invoice.

Collections normally are required to be made by EFT and mustbe arranged with FMS. When indicated by FMS, agencies willinclude a statement on invoice requiring payment by EFT andprovide the necessary information for EFT payment by theremitter.

Charges for Late Payments. Payment terms as stated in a contract,debt instrument, or notice of indebtedness (that is, demand letter)are


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expected to be adhered to by the debtor. If payment is not received bythe due date, then an agency is expected to pursue collection of the

debt using the appropriate available methods, and to assess interest,administrative charges, and penalties on past due amounts.Collection Mechanisms; All funds are to be collected by EFT whencost-effective, practicable, and consistent with current statutoryauthority. FMS acknowledges that agencies may find it desirable toutilize a menu of mechanisms, if the base of remitters is diverse. Themechanisms used for collecting funds for credit to the account of U.S.

Government will be jointly determined by the responsible agency andFMS and must have as their objectives the minimization of total cost tothe Government as a whole, including agency direct costs, the cost ofpurchased services, and the float cost of the money involved in thecollection system. Agencies will evaluate new or modified collectionsflows using the following guidelines and provide recommendations toFMS. When consistent with the above criteria, agencies should

generally consider mechanisms in the following order of preference:(1) Automated Clearing House (ACH)(the computerized facility for

member depositary institutions to process payment orders inmachine readable form),

(2) Fed wire ( for deposits requiring same-day settlement),(3) Debit/Credit Card (when cost effective),(4) Lockbox, and

(5) Treasury's General Account (TGA).On-Line Payment and Collections System (OPAC) or othermechanism for which the agency has vouchers and schedule ofwithdrawals and credits, will be used for the transfer of funds betweenagencies.Distribution Mechanism; All funds are to be disbursed by EFT whencost-effective, practicable, and consistent with current statutory

authority. Agencies will evaluate new or modified cash flows using thefollowing guidelines and provide recommendations to company.Vendor and Miscellaneous Payments. Each department and agencywill exercise its authority to require that all contractors are paid by EFTin accordance with 31 CFR 206, unless a determination is made that itis not in the best interest of the Federal Government to do so. EFT will


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be adopted as the standard method of payment for all federal programpayments originated by agencies or their agent. To the maximum extent

possible, agencies are required to use Vendor Express, Which is themechanism supporting the movement of Federal agencies vendor andmiscellaneous payments from checks and Fed wire to ACH processing.Agencies proposing to use any non-EFT mechanisms for vendor andmiscellaneous payments must successfully demonstrate FMS why EFTis not feasible or cost effective. FMS will work with each agency todevelop and execute individual conversion plans and coordinate agency

conversion plans with the Regional Financial Centers and the FederalReserve System.Agency Payments; Agencies will ensure that payment terms, whichspecify when payment will be due and how payment will be made, arecontained in all contracts with any organization. Invoices that areauthorized for payment by an agency, including progress and finalpayments, will be paid in accordance with company rule and regulations

or when otherwise due. Accounting systems will be designed to ensurethat invoices are paid timely and discounts are taken when appropriatewhen agencies take discounts after the expiration of discount period orfail to make timely payments, interest penalties will be paid according tothe company's act.Cash Discounts: - Agency payment will incorporate procedures thattake advantage of cash discounts as a matter of routine and eliminate

any need for special handling. Such discounts will be taken when thediscounts terms applied in the conversion formula results in an effectiveannual interest rates equal to, or greater than, the current value ofFunds Rate. The discount period is calculated from the date placed inthe proper invoice by the contractor to the discount date. If the voice isundated, the discount period will begin on the date a proper invoicesreceived by the designated billing office and the date annotated. All

discount payment must be scheduled for issuance as close as possibleto, but no later than, the last day f the discount period. The formula, withexample to convert discount terms an effective annual discount rate tobe compared against the Current Value of Funds Rate are in the figureon this page.


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Conversion FormulaDiscount Annual Calendar

Percent Days100 percent Number of (-) Number of = EffectiveMinus Days in Days leftAnnualDiscount Payment in DiscountDiscountPercent Period Period* Rate

*Discount period begins with date of invoice, whereas payment periodbeginswith receipt of an invoice in the designated billing office unlessotherwise noted; in effect, the discount period will be reduced by thenumber of days' differences between the invoice date and date ofreceipt. Example for Application of Conversion FormulaCurrent Valueof funds Rate: 5 pre Discount Terms: 2 percent/ 10: net 30 InvoiceDate: April 15 Receipt date: April 21 (6 days elapsed time) .02

360=. 28 or 28 percent1.00-2 30-(10-6)Based on this example, the effective annual discount rate exceeds theCurrent Value of Funds Rate, and the discount should be taken.Cash Advances Cash Held Outside Treasury

Cash Held at Personal Risk, Including Imprest Funds, by DisbursingOfficers and Cashiers Agencies will make unannouncedverifications of the cash balances in Imprest funds at least onceeach quarter. At least every 6 months, accountable officers shallensure that such funds arecommensurate with actual need andmeet the requirement specified in Manual of procedures andInstructions for Cashiers. Cash on hand shall be maintained at

the minimum needed to meet normal requirements. In lieu ofcash, agencies must use ACH for small purchases, traveladvances, and reimbursement to the maximum extent possible. Ifusing ACH is not cost-effective, practicable, or consistent withcurrent statutory authority, agencies will use the GovernmentSmall Purchase Card or third-party draft.


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All Other Cash Held Outside Treasury; All public moneys must bedeposited to the Treasury's General Account such as funds includethose held in escrow, seized in connection with law enforcementactivities, deposited in court, obtained as a result of an agency'sregulatory enforcement authority, and the likeCash Management Performance; To ensure the effective cashmanagement, the job elements of agency personal responsible forreceipts and disbursements should include cash management ascritical performance measurement Cash Management Reviews; anagency is responsible for monitoring efficiency, effectiveness, andprofitability in its cash management practices. The monitoring includesa methodology to ensure that an agency review is completed forreceipts and disbursement. The review wil Determine if an agency is collecting and disbursing funds by EFT. Determine if an agency is billing, collecting, and depositing in a

timely manner. Determine if an agency is making disbursement according to the

prompt Payment Document agency cash-flows to include all collections and

disbursements. Determine whether an opportunity exist to implement a better

mechanism or process, or upgrade an existing mechanism orprocess. Agencies may be required to perform a comprehensivecash management review every 5 years, the first of such reviewshaving been performed in 1986. FMS will notify agencies whenreviews are scheduled and provide detailed information to theagencies on the process.

The standard formula for measuring interest savings basedon benefit days is as follows:

Cash Flow Amount x Benefit x Current Value = Interest 250 (BusinessDays) Days of Funds Rate SavingsWarning Letters; When FMS has determined that an agency is a faultand may not implement an initiative by the scheduled implementationdate, a warning letter will sent to the designated cash management


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official. The warning letter will indicate an FMS contact with whom todiscuss possible solution or alternative courses of action. For collection

initiatives, the warning letter will also contain Identification of the initiative and scheduled implementation date.

A statement that the implementation schedule of the initiative is in jeopardy and the basis for this determination. The amount thatwill be charged based on proposed savings associated with theinitiative, if final implementation date is missed, and method ofcalculating charges.

FMS's authority to impose charges.

Agency's appropriation to be charged.

Approval of Requests for Funds: The Project Selection and ApprovalCommittee will evaluate all requests and select appropriate projects forfunding. The disbursement of moneys from CMIF to an agency will bemade under the authority of the Economy act (31 U.S.C. 1535). Uponapproval, the committee will authorize the transfer of total amount ofapproved funds to the project agency or will arrange funding on areimbursable basis. Money will be transferred to, and reported by, theagency as appropriate, base on current accounting procedures.

CASH FLOW STATEMENT ANALYSIS OF BSNL

Cash flow is a term that refers to the amount of cash being received andspent by a business during a defined period of time, sometimes tied to aspecific project. Measurement of cash flow can be used:

To evaluate the state or performance of a business or project.

To determine problems with liquidity. Being profitable does notnecessarily mean being liquid. A company can fail because of ashortage of cash, even while profitable.


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To generate project rate of returns. The time of cash flows intoand out of projects are used as inputs to financial models such as

internal rate of return, and net present value.

To examine income or growth of a business when it is believedthat actual accounting concepts do not represent economicrealities. Alternately, cash flow can be used to 'validate' the netincome generated by accrual accounting.

Cash flows in BSNL can be classified into;1. Operational cash flows: Cash received or expanded as a result of

the company's core business activities.2. Investment cash flows: Cash received or expended through

capital expenditure, investments or acquisitions.3. Financing cash flows: Cash received or expended as a result of

financial activities, such as interest and dividends.Al three together- the net cash flow- are necessary to reconcile thebeginning cash balance to the ending cash balance. Cash flow afterexpenditures affecting payments. Loan draw downs or equity injections,that are just shifting of capital but no expenditure as such, are notconsidered in the net cash flow.Benefits reap by BSNL by using Cash flowThe cash flow statement is one of the four main financial statements ofacompany. The cash flow statement can be examined to determine theshort-term sustainability of a company. If cash is increasing (andoperational cash flow is positive), than the company will often bedeemed to be healthy in the short-term. Increasing or stable cashbalances suggest that a company is able to meet its cash needs, andremain solvent. This information cannot always be seen in the incomestatement or the balance sheet of the company. For instance, acompany may be generating, profit, but still have difficulty in remainingsolvent.The cash flow statement breaks the source of cash generation intothree sections: operational cash flow, investing, and financing. Thisbreakdown allows the user of financial statement to determine wherethe company is deriving its cash for operations. For Example, a


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company may be nationally profitable but generating little operationalcash (as may be the case for a company that barters its products rather

than selling for cash). In such a case, the company may be derivingadditional operating cash by issuing shares, or raising additional debtfinance.Companies that has announced significant write down of assets,particularly goodwill, may have substantially higher cash flows than theannounce earnings would indicate. 'Strong cash flow is one of the mostattractive aspects of the cell phone business, allowing operators like

BSNL to return money to shareholders even as they rack up hugepaper loses.In certain cases, cash flow statements may allow careful analyst todetect problems that would not be evident from the other financialstatement alone. For example, World com committed an accountingfraud that was discovered at 2002; the fraud consists primarily oftreating ongoing expanses as capital investment, thereby fraudulently

boosting net income. Use of one measure ofcash have detected that there was no change in overall cash flow.Cash flow statements facilitate decision making by providing a basis of judgments concerning the profitability, financial condition, andfinancialmanagement of a company.The cash cycle (also known as the operating cycle or the earningscycle) in BSNL is the series of transactions or economic events in a

given companygiven by:1. Cash is converted into goods and services.

2. Goods and services are sold to customers like recharge coupons,sim card, etc.

3. Cash is collected from customers by mean of telephone, mobileand internet bills.


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CASH FLOW ANALYSIS OF BSNL

The cash flow statement is useful to managers, lenders, and investorsbecause it translates the earning reported on the income statementWhich are subject to reporting regulations and accounting decisionsinto a simple summary of how much cash has generated during aperiod in question. Under the circle office of BSNL Dehradun the mainsub units are

BSNL Dehradun

BSNL Risihikesh BSNLHaridwar BSNL Mussorie

The circle office made budget as well as cash flow statement for thewhole Uttaranchal circle. All the transactions as well as collections are

done by Punjab National Bank main branch.FUND FLOW ANALYSIS

Fund flow Statement depicts the sources where from additional fundsduring the current year as compare to the previous year have beenreceived and to what uses the funds have been applied. The term fundsas referred in the Fund Flow Statement means working capital which isthe access of current assets of current assets over the current liabilities.It also shows the inflow and outflow funds in BSNL.It reveals the inflow of additional funds during the current year or monthas compare to the previous year or month and also the utilization offunds. Since BSNL deals with basic phone, mobile, internet etc.therefore the main source of funds for the company is collection of cashfrom various sources like billing, internet charges etc. which act as thecash inflow for the company. On the other hand the company alsodeals with operation we shows the payment of current liabilities,managing of working capital, Loan or mortgages, purchases of FixedAssets, payment of interest, taxes etc.The following data shows the Fund Flow of BSNL, circle office for themonth of January.


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Revenue generated - Telecom Rs. 6143303.00Telegraph Rs. 25924.00

Internet 7 ITC card Rs .2115283.00Misc. Rs. 819157.00TOTAL Rs. 64393667.00

Working Expenses - Electric and Water charges Rs .385206.00

Building rents Rs. 475677.00Wages Rs. 1002358.00Marketing Exp. Rs .1038462.00Incl. Advertisement Rs. 860158.00&ConferencesVehicle running chargesRs. 1160803.00Police Escort charges Rs .4519434.00

Security Guards


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Bank & legalcharges Travelling

Expenses AdmanCharges Incl.Stationary &printing

TOTAL

Repair of MachineryExpenditure on Services

Repairing of buildingMaintenance ofCablesInterconnectioncharges Generalexpenses

TOTAL

Rs. 209294.00 Rs .4463913.00 Rs.652464.00

Rs .14767769.00

Rs .49962.00Rs. 164497.00

Rs .1657894.00 Rs.1512144.00 Rs .

885853.00 Rs. 2746413.00

Rs .13030086.00

Maintenance Expenses -


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Therefore total working expenses and maintenances is = 1767769 +13030086=27797855.00

Therefore fund flow percentage ratio = Total of working expenses andmaintenances

Total

Revenue =27797855.0064393667.00 -43.16%

Standard Ratio given by BSNL head office is 30 % but for UttaranchalCircle the ration is coming out 43.16% we showfhat the cost incurred inworking expenses and maintenance is higher than the revenue

received.


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BUDGETING IN BSNL

Budgeting in a business sense is a planned allocation of available fundsto each department within a company. Budgeting allows executives tocontrol overspending in less productive areas and put more companyassets into areas which generate significant innocence or good publicrelation Budgeting is usually handled during meeting with accountants,financial experts and representatives from each department affected bythe budgeting. In personal financing sense, budgeting can meaneliminating monthly living expenses based on previous bills and wages.For example, you can subtract all your known monthly bills from thatfigure even before they arrive. The key to successful budgeting is bothflexibility and inflexibility. Certain expenses are fixed, so payment ofthose bills should be an inflexible element. Nothing is more importantthan paying those particular bills in full. In business, departments needtorn know the absolute ceiling on spending. Budgeting works best when

very few exceptions made to the upper limits. The idea of fiscalresponsibility is to form a workable budget and stick to it as best aspossible. Budgeting also requires an element of flexibility. It isn't alwayspossible to assign a fixed rupee account on January in expect thebudget to remain stable in July. There are always unexpected eventswhich can drastically change the priorities of a company or anindividual. Without flexible budgeting, money allocate for one porpoise

could not be reallocate during a fiscal emergency. An unexpected dropin sales revenue in March can affect the budgeting plans in November,so accountants and financial officers need to adjust their figuresregularly.When economic times and good, many people become relax aboutpersonal budgeting. As long as there is more money coming in thangoing out, all is


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well. But those who learn to establish a workable budget and keepwithin it during the lean time often survive major financial crises better

than those who don't. Financial discipline can spell the differencebetween weathering the storm and declaring bankruptcy. In BSNL thebudget are always made in the month of august by taking an idea aboutthe money spends from April to august than the project budget isformed up to march. For making budget we basically take the last two orthree year data.


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TABLE-4

BUDGET STATEMENTPage No.

SL.NO. Name (Rs.in

thecircle/unit:- Thousand

GMTD,

For bothother than

CMTS&

CMTS

Monthly

W.E Statement

the month of

March-08

Details Budget Proporti Expenditu Expen Progres Variati

expenditure Allotment onate re up to diture ive with

payment 2007-08 Allotme Previous for the Expend! referenprovision nt up to month current ture proport

employment(Re the month e

neration) current

month

Part-A1 Salary 127627 127627 122518 11478 133996 6369

2 Medical 7869 7869 7133 694 7827 -42

allowances


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3 Wages 29 29 53 0 53 24

4 Overtime 3176 3176 2621 28 2649 -527

Allowances

5 Incentive/Bonus 7425 7425 30 3 33 -7392

6 Leave 545 545 589 78 667 122

concession

7 Leave 2956 2956 3338 400 3738 782encashment

8 Uniform 193 193 191 -1 190 -3

9 House 35 35 0 0 0 -450

charges(Rent)

10 Staff welfare 450 450 0 0 0 -450Amenities

11 Subsidy 2096 2096 1833 165 1998 -98

Departmental

Canteen/Food

Allowance

12 Pension 12663 12663 11427 1055 12482 -181

contribution

13 Leave 747 747 137 12 149 -598

contribution

14 Payment 262 262 0 0 0 -262Workmen

compensate

15 Employer's 481 481 253 32 285 -196

contribution


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towards EPF

16 Administrative 89 89 56 0 56 -33

charges on EPF

17 Gratuity 0 0 0 0 0 0

18 Group 0 0 0 0 0 0

(LIC)'contribution

19 Honorarium 0 0 5 0 5 5

TOTAL(A) 166643 166643 150184 13944 164128 -2515


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Page NO.2

SL.

NO.

Name of the (Rs.In

unit:GMTD Thousan

DEHRADUN ds)

For both

other than

CMTS &

CMTS

Monthly

integrated W.E.

Statement for

the month March-

08

Details of Budget Proportional Expenditure Progressi Variationwith

expenditure on Allotme e for ve

office nt

Administration 2007-08 Allotment Expenditure The current Expendit Reference to

up to the up to ure

Current Previous month Proportio

month month allotment

Part-A

20 Rent of Building 6965 6965 2680 310 2990 -3975

21 Rates & Taxes 505 505 307 3 310 -195

Water charges 304 304 396 4 400 96


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22 Electricity charges 18494 18494 17035 2056 19091 597

Fuel charges 4545 4545 3127 868 3995 -550

23 Computer 1515 1515 1256 173 1429 -86

stationery

24 Computer hire 11 11 1 1 2 -9

charges

25 Insurance 225 225 54 54 108 -117

26 Vehicle runningexpenses

3904 3904 3029 800 3829 -75

27 Repairs &Maintenance

21983 21983 33667 3840 37507 15524

28 Travel Expenses 5370 5370 3977 900 4877 -493

29 Conveyance charges 549 549 538 39 477 -72

30 Printing 288 288 134 12 146 -142

31 Stationery 1489 1489 1232 58 1290 -199

32 Postal expenses 2179 2179 1814 151 1965 -214

33 Bank charges 179 179 178 2 180 1

34 Book &Periodicals

47 47 25 3 28 -19

35 HorticultureExpenses

216 216 88 0 88 -128

36 Police Escortcharges/securityGuards

mi 7877 9823 118

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