“In case there will be any attempt to incorporate any provision to curtail any of the existing rights and privileges of the employees, or to go for further dilution of the government holding in our bank and closure of branches, our union will be free not to sign the fil MoU or agreement relating to revival plan since such details are not known to us,” Chatterjee said in a letter to the lender’s top magement. The lender on Wednesday also said it is planning to raise Rs 1,000 crore from Life Insurance Corporation of India (LIC), the country’s largest insurer, through issuance of Tier-2 bonds. “...a proposal has been placed before the board seeking its approval for issue of Tier-2 bonds for inclusion in Tier-2 capital of face value of Rs 10 lakhs each aggregating to Rs 1,000 crore to LIC of India. We have this day placed the above proposal before the board by circulation,” the lender said in a stock exchange filing.