essbebe,
I have tried all the the Options suggested by you.
The Modem is Ultrastar type 2.
Below mentioned are the steps which has been tried.
Checked with the Modem and Laptop on a other BSNL connection @ bsnl office, was able to connect and open all the websites.
Checked with other ISP--No issue
Connected with a new Type 2 modem --- Still unable to browse most of the websites.
Tried with Lower MTU--Same issue persists.
Increased the SNR margin on suggestion from some technican @ BSNL - Same issue persists.
The Password for the BSNL has been reset -- same issue persists.
I am at a stage where i am almost ready to through BSNL Modem frm terrace and go with any other ISP

.
Any assistance is Appericated and acknoledged.