New Delhi: State-owned manganese ore producer MOIL Ltd has entered into a Memorandum of Understanding (MoU) with Canara Bank to implement the Corporate Salary Package (CSP) for both its permanent and contractual employees. The agreement aims to extend a range of financial benefits and support services to MOIL’s workforce, enhancing employee welfare and satisfaction.
MoU Signed in Presence of Senior Officials
The MoU was formally signed on 7th November 2025 by Mr. Nitin P. Kajarekar, General Manager (Finance), and Mr. Nitin Pagnis, Joint General Manager (Personnel), representing MOIL. On behalf of Canara Bank, the agreement was signed by Mr. Jakkala Surendra Babu, Deputy General Manager & Regional Head, Regional Office Nagpur, and Ms. Nancy Varghese, Divisional Manager, Regional Office Jabalpur.
Several officials from both organizations were also present during the signing ceremony. From MOIL, Mr. Chandrakant Dahe, Assistant General Manager (Finance), and Mr. Ashish Suryawanshi, Chief Manager (Personnel), attended the event. Representing Canara Bank were Mr. Rohit Sharma, Officer, Regional Office Jabalpur, and Mr. Subodh Wahane, Senior Manager, Regional Office Nagpur.
Read also: MOIL Achieves Record October Manganese Production and Highest-Ever Exploration Drilling in FY26
Comprehensive Employee Benefits Under the Corporate Salary Package
Under this new arrangement, Canara Bank will provide a wide range of financial and lifestyle benefits to MOIL’s employees. The Corporate Salary Package includes:
- Personal Accidental Insurance with coverage for both permanent and partial disability,
- Fee concessions on various banking services, and
- Exclusive lifestyle and financial privileges designed to enhance convenience and financial well-being.
This collaboration between MOIL and Canara Bank reflects the company’s continued commitment to improving employee welfare and providing access to value-added financial services.
Strengthening Employee Welfare and Financial Inclusion
The partnership is expected to promote financial inclusion among employees, ensuring easy access to modern banking services. Through this initiative, MOIL aims to simplify salary management processes while also helping its workforce benefit from customized financial products and insurance protection offered by Canara Bank.
About MOIL Ltd
MOIL Ltd (Manganese Ore (India) Limited) is a state-owned public sector undertaking (PSU) under the Ministry of Steel, Government of India. Headquartered in Nagpur, Maharashtra, MOIL is the largest producer of manganese ore in the country, contributing significantly to India’s steel and alloy industries. The company operates multiple mines across Maharashtra and Madhya Pradesh and has been a key player in supporting India’s industrial growth through sustainable mining practices and community development initiatives.
Read also: 54th Zonal Mine Rescue Competition Concludes at MOIL Mansar Mine; Women’s Team Clinches Top Honours
