Revival of BSNL and MTNL Final Out Come Meeting

PMO HOLDS MEETING ON REVIVAL OF BSNL and MTNL GIST OF OUT COME OF MEETING SUBJECT TO OFFICIAL CONFIRMATION IS GIVEN BELOW.

1. VRS Package is eligible for BSNL Employees who are attaining the Age of 50 years & above i.e upto 60 years.
2. The Employees opting VRS will get cash payment of Ex- gratia amount in single go or maximum in 5 installments on optional basis for availing Income Tax benefit.
3. The formula for VRS Package is (Ex-gratia + Pension) or 125% of the Salary (Pay + IDA), whichever is less.
4. The Employees having 40 months Service left will get full Salary benefits.
5. Leave Encashment & Pension (without Commutation) will be paid at the time of VR but the Gratuity and Commutation Value of Pension Payment will be deferred till they attain the age of Superannuation. During the intervening period from the date of VR to the date of attain the age of Superannuation, Employees will get interest @ 8% on their Gratuity amount.
6. The Ex-gratia amount for VRS will be paid in Cash by BSNL by issuing of Bonds on the basis of the Sovereign guarantee to be given by the DoT. 50% of interest liability on bonds will be born by Govt.
7. The roll out of age from 60 years to 58 years: VRS will be implemented  first and  the roll out of age from 60 years to 58 years comes into effect subsequently.
8. 4G Spectrum allocation to BSNL: Rs.14,000 Crores will be borne by the Govt for 4G Spectrum allocation to BSNL.
9. BSNL Land Monetization proposal:  The proposal for monetization of BSNL Land, OFC & Towers has been accepted which will be monitored by a Committee consisting of the officers from BSNL, MTNL, DoT and DIPAM.
10. Proposal for SPV for land monetization and merger of BSNL and MTNL is dropped:
11. Revised Cabinet note will be prepared and sent.
12. It is also reliably learnt that window for VRS Package will be opened for One Month and all the process will be settled within two months