KSRTC pension arrears to be disbursed from February 20

The Kerala government today said pension amount and arrears of retired transport employees would be disbursed from February 20.

Published: 14th February 2018 09:04 PM  |   Last Updated: 15th February 2018 02:15 AM   |  A+A-

The Kerala government today said pension amount and arrears of retired transport employees would be disbursed from February 20.

By Express News Service

THIRUVANANTHAPURAM: Signalling an end to the long wait, the KSRTC pensioners will get their pension along with the pending dues from Thursday, according to Cooperation Minister Kadakampally Surendran.  The disbursal of pensions will be completed by this month end, he said.A consortium of Cooperative Societies will provide `219 crore as pension and dues this month. Under the plan, the 39,045 pensioners will get the money through 701 Primary Agricultural Credit Societies (PACS). But for this, they need to open an account in the cooperative banks located nearer to the banks where the pensioners already hold pension accounts. 

The Kerala State Cooperative Bank which leads the consortium of  cooperative banks will credit the money to the new account. The minister said steps had been taken to facilitate the opening of accounts in cooperative banks. According to Surendran, 198 Primary Agricultural Credit Societies had come forward to lend money to the consortium. But the consortium decided to collect `250 crore from 24 societies in four districts. Fourteen societies in Kozhikode will lend `140 crore, four from Ernakulam will give `50 crore, three each from Palakkad and Thiruvananthapuram will give `30 crore each.

Kadakampally said the money given by societies were secured through a government guarantee. Hence, Leader of  Opposition Ramesh Chennithala’s claim the consortium will wreck the cooperative societies was baseless and it exposed the double standards he had on the pension issue.  “The fact the cooperative societies were able to collect the amount and disburse it showed the strength of cooperative sector in the state,” he said . 

Cooperative Department secretary P Venugopal said the loan amount will be returned on time with 10 per cent interest. The meeting was attended by Cooperative Registrar D Sajith Babu,  Kerala State Cooperative Bank  MD E Devadas, joint registrars, general managers of District Cooperative Banks and PACS presidents. 

Stay up to date on all the latest Kerala news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp