Here's the FE story on it - VSNL Rolls Out Internet Over Cable Broadband Services
And, I quote :
VSNL’s service is being offered at Rs 360 per month at a speed of 512 kbps.
BTW, I got wind of this stuff from Om Malik.
Once these guys and reliance move into the broadband space, things could get very very hot for other players (Airtel, Sify, ...).
Competition is good for consumers :)