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(A Govt' of India EnterPrise) (Bankilg' F:lance Division) CORPORATE OFFICE Harish ChandraMathur Lane 5thFloor, Bharat Sanchareh-a;an,

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-12 No :- 1-9lBBF/Staff Loan/ 1I


To All Circles'IFA BSNL EmPloYees' variousloansto BsNL employeeshas MOU with corporationBankfor extending conditionsand detailsof ratesof g.n.rui-*r"*a beensignedon 26_05_zott.The interestaregivenin Annexure-l' been placed on our intranet site A copy of the agreement has (Fin) and sub-headBudget & Finance,'o"ihead Director Control. Encl: CoPYof agreement (S.Janardh


DGM (BF-III) Phone0ll-23329670 Fax 0l l-23734033


New circus, connaught Bank,M-41,p.B.No.162, corporation Manager,

Delhi- 110001for informationplease'

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NI'g Bharat SancharNiglm Limited (BSNL), a company incorporatedunder the Companies

Froo., Bharat Sanchar Bhawan, fili;,l,tifl;Hifl;n,i:+':::'"*T."':y*,:ry::^*.j:lJ;fi tv General Manaser


herginaflerreferredto as




to enteiiffi *',, !L-ull-uy'horitrd.. AND



conroration Bank, a body corporate, constituted under the Banking companies

ornce at:_a4ensatadev $"rumr:#H*:""1,y#f :**gi,".":tr.? ;liitg itshead i vrrrLr\rrtrt\t. E

BSNL and Bank are collectively referredto as..theparties,, qg, qmar$rY!|l* g, J#tsndrin-Snnrry

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kft*oELHr F wnnREAS:

f, t ' M/s' BharatsancllNigam Limited(BSNL)is a company companiesAct' 1956 underthe Jtart"r^ii. registerei;ffi";rporate incorporated office at 3,dFroor,

*** Lane, i'Tfii Hilfi,if;;;;i,ifr'* chL,o,' ranpath, New Derhi:$ emplo)'ees operatingcompanyin India rr"rirg 3.2 lakhs u..o., the country




3' In pursuantt

desires aspeciar package Loan roritsenrire starr


vide letter no. l-glBBF/st :f-lht g *o,t;i3.J;r""lt\l*Xi*.'"u'i"'' aff Loar/2010-11 dated roruuriou, o'ooosat roans rac'ities rorits +. Vide letter n H rncorporating specimencopies of the agr employee(s)(hereinafter ri loan. q q

5 . Consequently, Bank has, at the re< H provide loan conditions set out in

raclities-'tl'ilffi:,ffir".Ht'"1ffi:X(.iTl'l?':i: -i-"g/";F/Staff j the letter of offer


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6. The Loan will be evidenced by the Loan Agreement and other Loan

(hereinafterreferredto as the "Loan Documents") to be executedbetween and Borrowers. In consideration of the loan facilities, the parties have agteed

executethe presentMemorandumof Understandingon the terms and conditi mentioned below:


That Bank shall grant the loan to BSNL's employee(s)under the various head per their requirement and the sameare as follows:

(a) Housing Loan including Repair/Renovation/Additon/Alteration Loan HomeImprovementLoan. (b) Car Loan (c) Two WheelerLoan (d) PersonalLoan (e) EducationalLoan The loansunderthe variousheadsasmentionedabovearecollectivelv to asthe "loan facilities". 2. That the generalterms and conditions, Purposeof loan, Maximum amount, Money, Multiple of salary, Recovery of installments (EMl+Interest) Eligibility etc. w.r.t. the loan facilitiesapplicablein respectivecasesare herewithas Schedule-I.

3 . That the FinancialQuotationsi.e. FloatingRate of Interest,Fixed rate of Inte andAveragetime for Loan Sanction,for the loan facilitiesapplicablein respecti casesareannexedherewithasAnnexure- I. 4. That the loan facilities shall be sanctionedby the appropriateauthoritiesof Bankwith all the agreedconcessions andrelaxations. That the maximumlimits for the loan facilitiesare subjectto the income/repay capacityof Borrowers. 6. That the securityfor the loan facilities shall be as applicableon the schemes' 7. That salarymandateto be registeredby BSNL for recoveryof installments the salariesof Borrowersandremittanceto the respectivebranches.

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8. That minimum net take home salaryof 25ohshall be maintainedafter meetingthe loan installments. g. That the loan shall be sanctionedin such a manner that at no stage the net take home salary after meeting loan installment is less that25oh of the gross salary afte meeting all liabilities/deductionsviz. GPF,EMI, Income Tax, Insuranceetc. It employedon compassionateground, pensi caseof reemployedpersons/persons of employeeshall be includedfor calculating2lYocarry home salary. Borrower, BSN 'N undertakes not to release terminal benefits without obtaining prior written ObjectionCertiftcate"from the financingbranchof Bank.

in case of retirement/resignation/termination/deathof 1 0 That .

1 1 That . the Bank shall not chargeprocessingchargeson the loan.

12.That the Bank shall charge the interest on monthly rests on the daily reducin balancebasis.DDOs must pay the recoveredamountof EMI from the salaryof employeelatestby 10tnof eachmonth without fail. When the concernedDDO made payment within due time, Bank shall not pass on interest chargesto t borrow-ersowing to delay on bank's behalf. 13.That fixed rate of interest shall remain fixed during the entire tenure of the 1o subiectto resetclauseat an interval ofevery 3 years.

t 4 .That Bank shall not charge penal interest for prepayment/foreclosureof loans casethe employeepays back the loan from his/her own sources.In case loan taken over by other bank/institutions prepayment penalty @ 2 % p.a. for outstandingloan amountwill be levied. 15.That repaymentshall commenceone month after disbursalof the loan. 16. That this deedshall be binding upon the parties,their successors and assigns.

17.Thatanynotice,demandor requestunderthis deedshallbe in writing,andshall deliveredby personalserviceor shall be sentby postageprepaid,registered certified mail, telexed, telecopiedor sent by person or ovemight courier ret

receiptrequested, addressed, ifto the parties,at the respective addresssetforth theheadingof this deed,or at suchotheraddressasthe addressee may designate writing. Eachnotice,demandor requesthereundershallbe deemedgivenon t date it is delivered,in the caseof personalservice,or the date it is depositedwr the PostalService,in the caseof certified or registeredmail. 18. That the partiesshall herebyirrevocablysubmit to the exclusivejurisdiction of t

Court and Tribunals in New Delhi for purposesof any suit, action or proceeding whichrelatesto this deed. 19. That no amendment,notification or releasefrom or waiver of any provision hereo shall be effectiveunlessin writing and signedby the parties.



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20. That this deed may be executedin two or more counterparts,each of which shall be deemedan original, but all of which together shall constitute one and the same instrument. 2l . That this deed and the rights and obligations hereundershall be construedin accordancewith and governedby the substantivelaws of the India. 22.If any provision hereof is found by a court of competentjurisdiction to be prohibited or unenforceable it shall be ineffective only to the extent of such prohibition or unenforceability, and such prohibition or unenforceability shall not invalidate the balance of such provision to the extent it is not prohibited or unenforceable,nor invalidatethe other provisionshereof. 23. In the event of any dispute or difference relating to; arising from or connectedwith this MOU, such dispute or difference shall be referred by either party to the arbitration of one of the Arbitrators in the Department of Public Enterprisesto be nominatedby the Secretaryto the Govemment of India, in charge of Bureau of Public Enterprises. The Arbitration and Conciliation Act 1996 shall not be applicable to the Arbitration under this clause. The award of the Arbitrator shall be binding upon the partiesto the dispute,provided,however,any party aggrieved by such award may make a further referencefor setting aside on revision of award to the Law Secretary, Department of Legal Affairs, Ministry of Law & Justice, Governmentof India. Upon such reference,the dispute shall be decided by the Law Secretary,whose decisionshall bind the partiesfinally and conclusively. The parties in the dispute will shareequally the cost of arbitration as intimated by the Arbitrator. 24.That the bank shall nominate at least one branch (in case their more than one branchof the bank) at each SecondarySwitching Area(TelecomRevenueDistrict) for sanction,payment of loan and payment of EMI recoveredby BSNL. This MOU shall be binding upon both the partieson all India level. 25. Either party can terminate the MOU by giving a notice of 90 days in writing. However. all the clausesof the MOU shall be binding and enforceablein respect of outstandingloanson the dateof terminationirrespectiveof suchtermination. 26. All other terms and conditionsas per MOU shall be applicableon both the parties. 27. This


agreement is



a period of

twelve months i.e. upto


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IN WITNESS WHEREOF, the parties have causedtheir respectiveCommon Seal

be affixed to thesepresentson the day, month and year first hereinabovewitten, at Delhi.


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Signature: Name: S JanardhanS Designation:Deputy Address:BSNL A u'.'. 5'i'Floor,BSNL Bhawan Janpath.New Delhi I10001

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Name: 6.!{SF Designation:Asst.GeneralManager Address:M 41, Connaught Circus NewDelhi110001

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Annexure I GENERAL TERMS & CONDITIONS under respectiveCorp Schemewith special offer / terms and loans facilities The various kinds of conditious Loan Personal Vehicle Loan HousinsLoan 'i confirmed Only Four Wheelers: Confinned employeewith a Elisibilin employee minimum of 5 yearsof service Confirmed employeewith a minimum basic pay of Rs. 20000/- per month

M i u i m u mL o a n Amount

Two Wheeler: Confirmed employee 100timesof BasicPay subject Four Wheelers: 20 times of Basic pay subject to the maximumof Rs.30 to the maximumof Rs.5 Lakhs. lakhs.

10 timesof Basicpay subjectto the maximum of Rs. t lakhs.

Two Wheeler: 5 times of Basic pay subjectto minimum & maximum loan of


As per the Scheme


GeneralScheme: 20 years Ghar ShobhaScheme: 10 vears

Processiug charges Pal ment charges.if paid fi'om ou'n sources. Rateof Interest IFloatingrate]


General Scheme: Loan upto Rs.20 Lacs: Tenor: 5 to 15 years BR+0.85%fPresently10.75%] Tenor: 15 to 20 years BR+1.10% [PresentlyI 1.00%] Loan Rs. 20 Lacs to Rs.30 Lacs: Tenor:5 to 15 years BR+1.10% [Presently 11.00%] Tenor: I 5 to 20 years BR+ 1.35% [Presently11.25%] Ghar ShobhaScheme: BaseRate+ 1.75y:o fPresently11.65%]

Four Wheeler: 107o Two Wheeler:25"/" Four Wheeler:7 vears Two Wheeler:5 vears

-NA3 to 5 years





Upto 3 years: BaseRate+ l.60oh [Presently11.50%]

BaseRate+ 4.1C'/o 14.00(;l [Presently

Above 3 years to 5 years BaseRate+ 2.l0%o [Presently12.00%l Above 5 years to 7 years Base Rate + 2.6004 fPresently12.50%l

Note: Education loan shall be extendedas per the extant guidelines of the Scheme

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MOU Signed with Corporation Bankfor extending various Loan Schemes to BSNL Employees