(A GOVT. OF
501-B, STATESMAN HOUSE,
No. 1-9/BBF/Staff
Loan/2005-06
Dated 08.03.2006
To
The
Kindly refer to this office letter of
even No. dated 28.2.2006, whereby a copy of the MOU(signed
with Canara Bank) for various loans for BSNL employees was forwarded to you.
2. For
implementation of the scheme, you are requested to issue instructions to all
SSAs in the circle to take up the matter with Canara Bank branch located at SSA
HQ for sanction/disbursement of loan. In
case there is more than one branch, at least one branch may be nominated for
sanction/disbursement of loan to BSNL employees.
3. As per MOU, it
is not mandatory to open salary account with Canara Bank. Employee has to sign a salary mandate
authorizing the DDO for deduction of installment of the loan from the salary
and remit to the Canara Bank branch which has disbursed the loan amount. In case the employee is transferred to some
other place, an entry may be made in the LPC for the outstanding amount of the
loan with the instruction to remit the installment recovered from the salary of
the employee to the branch from where the employee has taken the loan.
4. This scheme is available only to the BSNL
employees. BSNL employee will collect the Loan Application form from the
Canara Bank, fill up the same and submit to the nominated branch of the bank
along with Security/documents to be submitted for various loans as per
Annexure-I. The bank will forward the
application form to the authorized officers nominated by the IFA’s of
Circle/SSA HQ for verification of salary and service particulars. After verification BSNL will return the loan
application to the bank.
5. The name and
specimen signatures of the officers who are authorized to verify the loan
application may be forwarded to the nominated branch of Canara Bank, so that
the process of sanction and disbursement of loans may be started at the
earliest.
Enclosure: Annexure-I
Annexure-I
SECURITY TO BE SUBMITTED AS PER THE SCHEME
1.
HOUSING LOANS:
A)
Equitable mortgage
of house being financed.
Legal Scrutiny Report by bank panel advocate and
valuation of the property by bank panel valuer. There are no processing OR
other charges by the Bank. However, advocate and valuer fee (as the case may
be) has to be paid by the borrower. This fee amount can be ascertained by the
concerned Bank Branch Manager, as it varies as per state regulations and local
conditions, though this amount would be nominal.
B)
Suitable Co
obligation/guarantee
2.
HOME IMPROVEMENT LOAN:
A)
For repairs to the
existing house: Mortgage of the house
B)
For Assets created
out of the loan: Hypothecation of the items purchased out of bank loan
C)
Suitable Co
obligation/Guarantee
3.
CAR LOAN:
A)
Hypothecation of the
vehicle being purchased, by noting bank lien in RC book
B)
Suitable co
obligation/Guarantee
4.
TWO WHEELER LOAN:
A)
Hypothecation of the
vehicle being purchased, by noting bank lien in RC book.
B)
Suitable co
obligation/Guarantee
5.
PERSONAL LOAN:
A)
Suitable co
obligation
6.
EDUCATIONAL LOAN:
A)
Co obligation of the
Parent/Guardian
B)
Suitable third party
co obligation/guarantee
7.
NATURAL CALAMITY LOAN:
A)
Suitable co
obligation/Guarantee
OTHER documents required:
v
Certified pay slips
& Photos of both the borrower, Co obligent/Guarantor, to be submitted,
while applying for loan facility.
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