BFCI Section, BSNL Corporate Office5'h Floor, Bharat Sanchar Bhawan,Janpath, New Delhi-l 10001Ph.23329 67 0, 23037 7 44, Fax : 237 3 4033

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BHARAT SANCHAR NIGAM LIMITED(A Govt. of India EnterPrise)

No. l -glBFCI/Staff Loan/l 2-13

To

All Circles' IFA

Dated: 17 .09.2013

SUB: MOU Siened yith $tate Ban,k of lndi? fqr exte4dine variouq Loan Schgmes to FSNL Epplovees.

MOU with State Bank of India for extending various loans to BSNL employees has

been signed on 2nd September, 2013. This agreement is valid upto 20.08.2014. The general

terms and conditions and Rate of interest are given in Annexure- I of MOU (copy enclosed).

A copy ofrvwlv. i ntranet.bsnl.co. in

Control.

the agreement has been placed on our intranet web site i.e.

under the head Director (Finance) and sub-head Budget &Finance

Encl: (i) Copy of Agreement(ii) Annexure-I

= Jv*-'--

(V.V.Sankaran)DGM (BFCI)

Ph.23715103, 23329670Fax: 23734033

Regd. Off ice: Bharat Sanchar Bhawan, Janpath, New Delhi -110 001Corporate Office: Bharat Sanchar Bhawan, Janpath, New Delhi-110 001 Website: www.bsnl.co.in

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:'*:'-'l,n^^,66^, ,ffi;;;;;,u,on,."..n' :'J*,JDescnptlon of Document ' Ar rrvrt' 1'::--:- . -.,, ^-, ,r, {r^n^r -'i*: 11, PARLIAMENT STREET, NEW DELHI-11OOO1' I * ;proper ty Descr ip t ion : I I ' l 'AF lL rArv rEr r I u r r rLs '

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consideration Price (Rs.) : 0 - .- r' ' ' t'{'lt 9. , . . t _ :

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" .' Second Party : NA " ],'i;;" Stamp Dutv Paid By : STATE BANK OF INDIA ." i--.

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I.. MEMORANDUM OF UNDERSTANDING {i\f-y' r L : ^ i r ^ - ^ , ^ 6 r , , - ^ { I l ^ , 1 ^ ' ^ + ^ ^ , . 1 i ^ ^ / n r a r l l \ i c m a A a n n 1 4 s t A r r n r r c tInrs rvremorandum of Understanding (MOU) is made on 21'tAugust 20'13. it ;

BETWEEN "'r:-

\ . i ! *

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Y.,j,' \-,\ ) , ".t lr,/r

\ l l t :' ; ; Y r

. r - ! i \ t t \ . - a ( : l - \ r l:il, \.)lEM t :h lEKtt'\'; I Cljl"'re

aqq qre

Ln. . .a o f anv d scr6 iunq l ' p lease in fc r rm tFe Ccnr - 'e ten t A t r ihor l t y

M/s BHARAT SANCHAR N'GAM LTD (B'NL), .a company incorporated under the

companies Act 1gs6 having its registered office/corpoiate offige at 3'd Floor' BSNL

BHAWAN, Harish chandrr," tr l trt ui t-ane, New Delhi-110001 through shri chander

shekhar Gupta DGM (erdr l i l) (duly -authorized

to enter into the present Mou)'hereinafter referred to as "BSNL" (whicrr t.r* Shall mean and include its successors

in

titre, subsidiaries, associates, affiriates and assigns) of the oNE PART

AND

State Bank of India (sBl), a statutory corporation, constituted under the State Bankof India Act, 1g55, having its corporate off ice at "state Bank Bhavan",

Madame cama

Road, Mumbai 400021 and one of i ts Local Head off ice at 11, Parl iament street, New

Dethi 110001. State Bank of India through Shri Deepak Chopra, DGM (PBBU - l ) (duly

authorized to enter into the present Mou), hereinafter referred to as"Bank" (which termshall mean and include its successors in t i t le, subsidiaries, associates,

aff i l iates and

assigns) of the OTHER PART'BSNL and Bank are collectively referred to as the "the parties"'

WHEREAS:

1. M/s Bharat Sanchar Nigam Limited (BSNL) is a company incorporated under thecompanies Act, 1956 and has its registeied office/corporate office at 3rd Floor'Bharat sanchar Bhavan, Harish Chandia Mathur Lane, Janpath, New Delhi-110001'BSNL is the largest telecom operating company in India having 2.5 lakhs employeesacross the countrY.

z. For the convenience of employees, BSNL desires to enter into Mou with sBl inrespect of Retail Segment Loans'

3. In pursuance of the above, BSNL invited Scheme wise rate of interest of variousRetail Segment Loans offered by State Bank of India for its employees on all Indiabasis.

4. Bank submitted the existing Rate of Interests applicable to all customers on varlousRetai l Segment Loans sucn as Housing loans, -Car Loans, Personal Loan: (SBlSaral, Exiress Credit), and Education Loan etc offered by SBI'

t >I -"->

5 . The basic terms and conditions in respect of the loan facility alongwith current Rate

of Interests for B5NL employee (s) (hereinafter referred to is thel'Borrower(s) at the

time of taking the loan) are "nn"t"d "tAnnexure

l to this MOU'

The roan wiil be evidenced by the Loan Agreement and other Loan Documents

(hereinafter referred to as the,,Loun oocrmeit.") to be executed between Bank and

Borrowers. In consideration of the loan facilit ies,-the parties have agreed to execute

the present Memorandum of understa";i;; on tt^," following terms and conditions

mentioned below:

6 .

NoWTHISDEEDWITNESSETHASFoLLoWS:

1. That Bank may grant the roan to BSNLs emproyee(s) under the following head as

per their requirement in accordance with Bank's grio"tines/norms prevalent at the

time of consideration of the proposal of the loan(a) Housing Loan incrud rg R"pair/Renovations/Addition/Alteration Loan'(b) Car Loan.(c) Education Loan'SJi#lilh""1tihe various heads as mentioned above are collectivelv referred

to

as the " loan faci l i t ies" '

2. That the general terms and condit ions, purpose of loan, Maximum amount, Margin

Money, Multiple of salary, Recovery of installments (EMl + Interest), applicable rate

of interest and Eligibil ity etc. w.r.t, the loan facilit ies applicable in respective cases

wil l be as per Banti 's -norms/guidel ines prevai l ing at that t ime.

That the loan facilit ies shall be sanctioned by the appropriate authorities of the Bank

in accordance with Bank,s norms without rnv relaxai ions or concessions' However i f

after execution of this MOU if any .onr"nris is arrived at in respect of extending

any concession/reraxation to emproyees of BsNL, the same may be made avai lable

to them in accordance with the consensus arrived at between the Bank and the

BSNL.

That the maximum timits for the loan facilit ies are subject to the income/repayingcapacity of Borrowers and as per the laid down instructions in accordance

with

Bank's Approved circulars for different loans.

That the security for the loan facilities shall be asschemes as per Bank's norms guidelines'

applicable on the resPective

3

4 .

5 .

d qE iwfiIq tS* f$ tuaro rn"t"^ar

67 .

8 .

9 .

ln case of sanction of the loan to the employees-of BSNL, they undertake to recordthe mandate of their emprlvee tor deduction of loan installment from their

salary

and remittance to the respective branches of the bank'

That EMI/NMI Ratio, Loan to Value Ratio and minimum take home salary as per

Bank,s extant instructions applicable to different loan facilities shall be meticulouslyobserved by the parties. The loan proposal will be processed. by the Bank

in

accordance with the Bank's guidelines and if i t is decided to sanction loan the sameshall be subject to fulfillmeni of terms and condition mentioned in sanction letter tobe issued bY the Bank.

That in case of retiremenUresignation/termination/death of Borrower, BSNLundertakes not to release terminil benefits without obtaining prior written

"No

Objection Certificate" from the financing branch of Bank'

That the Bank shall charge processing charges on the loan as per Bank's extantinstructions, subject to chJnge from time to time without prior notice.

10. BSNL undertakes that their salary disbursement authority shal l remrt the loan

installment deducted from the salary of the employee latest by 10'h of each monthwithout fai l .

as per Bank's extant instruct ions, subjectnotice.

12. That this deed shal l be binding upon the part ies, their successors and assigns.

That any notice, demand or request under this deed shal l be in writ ing, and shal l bedelivered by personal service or shal l be sent by postage prepaid, registered orcertified mail, telexed, tele copy or sent by person or overnight courier return receiptrequested, addressed, if to tne parties, at the respective address set forth in theheading of this deed, or at such other address as the addressee may designate inwrit ing.-facn notice, demand or request hereunder shal l be deemed given on thedate i t is del ivered, in the case of personal service, or the date i t is deposited withthe postal Service, in the case of certified or registered mail.

That the part ies shal l hereby irrevocably submit to the exclusive jurisdict ion of theCourt and Tribunals in New Delhi for purposes of any suit , act ion or otherproceeding which relates to this deed. However i t is clari f ied that the jurisdict ion inregard to iecovery of arrear to be lent to the employees of BSNL will be with therelpective court ir ibunal within whose jurisdict ion the respective loan disbursingbranch is si tuated.

11 . That repayment of loan shal l commenceto change from time to time without prior

1 3 .

1 4 .

1 5 .

1 6

1 7 .

1 8 .

That no amendment, noti f icat ionshall be effective unless in writing

or release from or waiver of any provision hereofand signed bY the Parties.

That this deed may be executed in twodeemed an original, but all of whichinstrument.

That this deed and the r ights and obl igationsaccordance with and governed by the substantive

or more counterpafts, each of which shall betogether shall constitute one and the same

hereunder shal l be construed inlaws of India.

1 9 .

l f any provision hereof is found by a court of competent jur isdict ion to be prohibitedor unenforceable it shall be ineffective only to the extent of such prohibition orunenforceabil i ty, and such prohibit ion or unenforceabil i ty shal l not inval idate thebalance of suirr provision to the extent it is not prohibited or unenforceable, norinval idate the other provisions hereof.

In the event of any dispute or difference relating to; arising from or connected withthis MOU, such dispute or difference shall be referred by either party to thearbitration of one of the Arbitrators in the Department of Public Enterprises to benominated by the Secretary to the Government of lndia, in charge of Bureau ofpublic Enterfr ises. The Arbitrat ion and Conci l iat ion Act 1996 shal l not be applicableto the Arbitrat ion under this clause. The award of the Arbitrator shal l be bindingupon the part ies to the dispute, provided, however, any party aggrieved by suchaward may make a further'reference for setting aside on revision of award to theLaw Secretary, Department of Legal Affairs, Ministry of Law & Justice, Governmentof India. Upon such reference, th-e dispute shal l be decided by the Law Secretary,whose decision shal l bind the part ies f inal ly and conclusively. The part ies in thedispute wil l share equally the cost of arbitrat ion as int imated by the Arbitrator.

20. This MOU shal l be b inding upon both the part ies on a l l India level .

21 . Either party can terminate the MOU by giving a notice of 90 days in writ ing.However, al l the clauses of the MOU shall be binding and enforceable in respect ofoutstanding loans on the date of termination irrespective of such termination.

ZZ. Al lother terms and condit ions as per MOU shall be applicable on both the part ies.

23.

24. This agreement is val id for a period of twelve months i .e. up to 2Otn August 2014'

lN WITNESS WHEREOF, the part ies have caused their respective Common Seal to beaffixed to these presents on the day, month and year first herein above written, at NewDelh i .

The Bank reserves the right to amendit may be, without prior notice, as perto t ime.

Terms and Conditions of the loan whatsoeverBank's pol icies and RBI guidel ines from t ime

For and on behalf of

Bharat Sanchar Nigam Ltd.

BHARAT SANCHAR NIGAM LTD

For and on behalf of

State Bank of India

2). *S'nt.i2

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