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Mahanagar Telephone Nigam on Monday approved the proposal of reduction in employee cost of the company by offering Voluntary Retirement Scheme (VRS) substantially on Gujarat Model (with reduced Ceiling of Ex-Gratia) to its employees (both Executives and Non executives). ET Year-end Special Reads Gold outshines D-St with 20% returns, but 2025 may be different The year of the pause: How RBI maneuvered its policy in 2024 2024, the year India defeated China's salami-slicing strategy The company said in an exchange filing that those aged 45 and above could opt for voluntary retirement. This has been done to make organisation lean and also reduce the staff costs, the release added.
Recently, MTNL, which has struggled with financial difficulties, informed the exchanges that it failed to fund the semi-annual ESCROW deposit for its 6.85% MTNL Bond Series VI, due on December 21, 2024. MTNL remains majority-owned by the government.
It has yet to release an official statement regarding the implementation of its much-discussed revival plan. At least half a dozen lenders have classified loans to Mahanagar Telephone Nigam (MTNL) as non-performing assets (NPA) in August, prompting the state-run telecom utility to propose a debt recast plan, ET had earlier reported. Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Advanced C++ Mastery: OOPs and Template Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Design Canva Magic Write: Ideas to Stunning Slides in No Time By - Prince Patni, Software Developer (BI, Data Science) View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Finance Tally Prime & GST Accounting: Complete Guide By - CA Raj K Agrawal, Chartered Accountant View Program Data Science MySQL for Beginners: Learn Data Science and Analytics Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Web Development Master RESTful APIs with Python and Django REST Framework: Web API Development By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Web Development Java 21 Essentials for Beginners: Build Strong Programming Foundations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development JavaScript Essentials: Unlock AI-Driven Insights with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Neil Patel By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru View Program Web Development C++ Fundamentals for Absolute Beginners By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Tabnine AI Masterclass: Optimize Your Coding Efficiency By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Office Productivity Excel Essentials to Expert: Your Complete Guide By - Study At Home, Quality Education Anytime, Anywhere View Program Soft Skills Cross-Cultural Communication Mastery: Connect with Confidence By - Prince Patni, Software Developer (BI, Data Science) View Program Web Development A Comprehensive ASP.
NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI for Everyone: Understanding and Applying the Basics on Artificial Intelligence By - Ritesh Vajariya, Generative AI Expert View Program The company has offered payment of 40% of dues, which lenders rejected, stating that a 60% haircut from a sovereign-like company is very steep, the people said. The government-owned telco, which earlier had a monopoly on fixed-line connections in Delhi and Mumbai and is still classified a ‘Navratna’ company, failed to regularise the miss-payments to Union Bank of India , Bank of India , Punjab National Bank , State Bank of India , UCO Bank and Punjab and Sind Bank . MTNL has missed ₹518 crore in principal and interest payments on outstanding borrowing of ₹7,925 crore.
The total financial indebtedness is ₹31,996 crore, according to a stock exchange disclosure. It reported a consolidated loss of ₹3,269 crore in FY24 on the back of ₹789 crore in revenue and ₹2,689 crore as finance cost. To revive the company, the cabinet approved a plan which mandated the company to monetise surplus land and building assets to repay debt and for capital expenditure, according to the company's annual report for FY24.
However, the monetisation process has been slow, bankers said. ET Year-end Special Reads An Indian's guide to moving abroad as the world looks for 'better' immigrants The year of the HNIs: How India's rich splurged in 2024 Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024.
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