BSNL releases Rs 9,000 crore for VRS payments
By MYBRANDBOOK
An amount of nearly 9,000 has been cleared so far by Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL). Both are working carefully to clear dues to the employees who have opted for the voluntary retirement scheme (VRS), the government on Monday said.
"Both BSNL and MTNL are working diligently to make payments to their employees who have recently opted for VRS," the Department of Telecommunications (DoT) said in a statement.
BSNL has released Rs 4,100 crore ex-gratia payment on Friday and Rs 4,900 crore additional for leave encashment on Monday. Similarly, MTNL has also cleared Rs. 1,050 crore towards payment of leave encashment, employee provident fund (EPF) and gratuity.
In October last, Prime Minister Narendra Modi-headed Cabinet had cleared the much-awaited rescue plan for the two financially-stressed telcos that include ambitious VRS, allocation of fourth-generation (4G) airwaves and asset monetisation.
Nearly 15,000 employees of MTNL and 78,000 headcount of BSNL have opted for VRS that also helped them to cut their wage bills drastically.
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