TAILIEUCHUNG - MEMORANDUM OF UNDERSTANDING (MODEL)

Banks in Italy and Spain made bids for a large proportion of the funds allocated at the first three-year LTRO (Graph 3, centre panel), while the funding situation of banks in other regions improved indirectly. 2 Banks in Germany, Luxembourg and Finland, for example, did not take much additional funding at the first LTRO. However, some of the allotted funds, perhaps after a number of transactions, ended up as deposits with these banks, boosting the liquidity of their balance sheets. In turn, they significantly increased their Eurosystem deposits (Graph 3, right-hand panel). There was also little change in the. | Memorandum of Understanding Model THIS MEMORANDUM OF UNDERSTANDING hereinafter referred to as MOU made and executed at this day__of 2008 BETWEEN Department of Rural Development Government of. Name of State through Principal Secretary Secretary Rural Development Government of . which expression shall include his representatives agents etc. unless repugnant to the context THE PARTY OF THE FIRST PART hereinafter referred to as Party 1. AND .Postal Circle Department of Posts Ministry of Communications and IT New Delhi through Principal Chief Postmaster General Chief Postmaster General Circle which expression shall include his representatives agents etc. unless repugnant to the context THE PARTY OF THE SECOND PART hereinafter referred to as Party 2. Organizational Structure of the Parties is given at Annexure -1 of this MOU WHEREAS the parties above named intend to operationalise the savings accounts of the workers under National Rural Employment Guarantee Scheme hereinafter referred to as NREGS to enable timely and proper payment of due wages earned by NREGS workers through the Post Offices AND WHEREAS the parties hereto decide to reduce into writing the terms and conditions as are mutually agreed by them NOW THIS MOU WITNESSES and it is hereby mutually agreed by and between the parties as follows Mutually developed by Ministry of Rural Development Krishi Bhawan New Delhi and Department of Posts Ministry of Communications IT Dak Bhawan New Delhi. Page 1 16. 1. OBJECTIVE OF MOU The central objective of this MOLL is to ensure financial inclusion of the NREGA workers by operation of their accounts in Post Offices for timely and proper payment of due wages earned by the workers and delivery of other financial services to them. The payment of wages to the workers must be done within the statutory time limit of 15 days of the work done by the worker in a fair and transparent manner. Party 1 by virtue of this Memorandum of Understanding MOU desires to entrust Party 2 .

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