Status of renewal of MoUs with Union Bank of India and Canara Bank.

The MoUs signed with the Union Bank of India and Canara Bank, by BSNL, have expired and BSNLEU has continuously demanding the BSNL Management to renew the MoUs at the earliest, so that employees can continue to get bank loans. BSNLEU has reminded the GM(BFCI) in this regard and has demanded him to take expeditious action. Com.Swapan Chakraborty, Dy.GS and Com.Gakul Bora, Treasurer, discussed the matter with the officers of the BFCI section yesterday. They are told that the Union Bank of India has so far not responded to the moves made by BSNL Management, for the renewal of the MoU. However, the Canara Bank has responded. But they have come with the proposal for loans with higher rates of interests. The BSNL Management has told them to come back with competitive rates of interests. The Canara Bank officials have told that it would take at least 10 days, since it requires the approval of their Head Office at Mumbai. BSNLEU will continue to pursue this matter.