GS AIGETOA writes to GM (Pers) regarding non-posting of OBs of the Associations in HR/Admin & Vigilance Wings and practice of the transparency in the inter-Circle and intra-Circle transfer carried on longest stay basis.
Today in a function organised in Corporate Office, Hon’ble CMD congratulated and felicitated the Team involved in the successful floating of Sovereign Guarantee Bond of BSNL for Rs 8500 Cr. Team Leader Shri Y N Singh, Sr GM(CFM & Taxation) and his officers involved in the process were felicitated and appreciation letters issued for their outstanding contributions. This includes our All India Vice President Shri Badri Kumar Mehta DM (Taxation), our Corporate Office Circle Finance Secretary Shri Subrat Kumar Mohakud AGM (Taxation) and lead officer Shri Hukum Chand AGM(CFM) CO New Delhi.
Moreover, Other Officers (members of AIGETOA) who are involved in Bond issue task i.e. Shri Sanjeev Kumar AM(CFM), Shri Kartik Saini AM(Taxation), Shri B N Behera DM(CFM) and Shri Sunil Kumar AM( Taxation) were also felicitated. Once again, we congratulate all officers for their outstanding contribution.
AIGETOA express its deep gratitude to the CMD BSNL and Director (Finance) for their key leadership to accomplish this important step of BSNL Revival measures as initiated by the Government in 2019 as it will give much awaited relief to BSNL.
Team AIGETOA comprising of Shri Wasi Ahmad GS, Shri Sunil Gautam AGS and Shri Vivek Kumar OS met with Shri S K Mishra, Director (CM) Shri Vivek Banzal, Director (CFA) and held elaborate discussion on launch of 4G services, PRBT bundling scheme and DLT charges on bulk SMS service after TRAI guidelines.
An elaborate discussion was held about delay in roll out of 4G services by BSNL and consequent leading to it. We appraised our serious concern about non-roll out of the services even after passage of ten months of time, which was one of the most important arms of the BSNL Revival Package announced by the Government last year. He was in unison about our concern but informed about the circumstances for cancellation of tender which was beyond the control of BSNL and thereafter framing of the committees and its report.
The way committee has recommended; the commercial launch of 4G services in BSNL may take more than 1.5 years and this may become show stopper in the revival of BSNL. We have to work in this direction in liaison with all stake holders for early roll out of the services.
We have submitted our various suggestions in this regard including up-gradation of 2G/3G sites and Add On order but these have its own limitation due to recent guidelines by the government but other proposals are being explored and the work is going in that direction as confirmed by the Director (CM), which we are not divulging due to some business requirement conditions. If everything goes by track, we may be able to get an alternate solution in coming months. We are confident that the management will make efforts to explore all possibilities to start the 4G services in BSNL and AIGETOA, as Recognised Representative Association will extend all its cooperation and will also fight at all levels for roll out of the services. We are going to build up a consensus among various stake holders to launch the campaign.
The matter of PRBT bundling scheme and DLT charges on bulk SMS also discussed in detail and the apprehension of the association were apprised to the director to which he given a patient hearing and elaborated all measures in detail. The meeting lasted for about two hours.
Team AIGETOA comprising of Shri Wasi Ahmad GS, Shri Yogendra Kumar AGS-HQ, Shri Sunil Gautam AGS and Shri Vivek Kumar OS met with Shri Vivek Banzal, Director(CFA) and held elaborate discussion on FTTH Business, Restructuring, Consolidation of Business Areas by merging SSAs with stringent norms and its consequential affects on Service and Promotional Avenues to the Executives.
We discussed about acquisition of FTTH business, Retd Employees/ Relative of Employees as MSO/TIPs for providing FTTH services on revenue sharing basis and our over dependency on MSO/TIPs. The Director was of the view that the MSO/TIPs model is a successful one as we have fetched good business through the model and on our apprehension; he apprised that sufficient protection are available in the system from any untoward challenges. He further said that our own existing OLTs are not getting fully loaded due to various constraints so field units should get it managed by MSO/TIPs to get the capacity fully utilized. About continuance of Retired employees or relatives of working employees as TIPs/MSO, he said that the circular is self explanatory and he never asked for blanket roll back instead some mechanisms were introduced to protect its misuse on receiving complaints.
We explained that the CFA Business requires man power and the way Business Areas is being consolidated by merging SSAs with stringent norms will have and its consequential affects on Service and Promotional Avenues to the Executives and hence needs your kind intervention. The Promotional Posts of AGM/DGM are forcibly reduced on the name of restructuring by merging various activities even at BA level and this will simply chock the already limited promotional avenues available to the executives.
We explained how the posts of AGM/DGM levels are shrinking by merging various activities of CFA/CM verticals at BA level and undermining EB/S&M segments and similarly the CAO and DGM(Fin) have been reduced by merging various activities. However the director’s views were that the present conditions allow BSNL to have posts as per the operational requirements only and it can be reassessed in future when the conditions improves. We objected it and strongly argued that it is the responsibility of the department to ensure minimum career progression to the executives. We further explained that the promotions in BSNL are long pending due in the cadre of SDE/AO, AGM/CAO and they do not involve any expenditure but required for much needed motivation and hence it is utmost necessary to ensure career progression in any activities. He agreed that the motivation is necessary for employees and it should be looked into also. The meeting lasted for more than one hour.
Today, Bharat Sanchar Nigam Limited (BSNL) floated Government Guaranteed Bond of 10 Years maturity to raise a fund of Rs 8500 Cr. The unsecured, redeemable, listed, taxable, Non-Convertible Debenture of face value of Rs 10 Lakh each at par, with a base issue of size of Rs 1000 Cr with option to retain over-subscription upto Rs 7500 Cr, aggregating to total issue size of Rs 8500 Cr was offered on 21.09.2020 from 10:30 Hrs to 12:00 Hrs on BSE through Electronic Bidding Platform (EBP).
At the close, the bidding, bids worth Rs 17,183.10 Cr was received from 229 investors. The issue was subscribed over 2.02 times of the total issue size. The BSNL is expected to retain
We have raised Rs 8,500 crore from sovereign bonds. We have received 229 bids and Rs 3,700 crore were subscribed by qualified institutional investors such as ICICI Lombard, Punjab & National Bank, Postal Life Insurance, and SBI Life Insurance,” BSNL Chairman Pravin Kumar Purwar said.
The sovereign bonds, according to the state-controlled telecom company were oversubscribed with a total size amounting to Rs 17,183 crore, and the company has accepted the offers at an interest rate of 6.79% per annum.
The raising of Government Guaranteed Bonds of Rs 8500 Cr is a part of the Cabinet approval of BSNL Revival package in October 2019, which also included VRS to employees of age more than 50 years, Land Asset Monetisation, 4G Spectrum allocation and MTNL merger with BSNL.