HYDERABAD: The TSRTC Employees Thrift & Credit Cooperative Society (CCS), which once enjoyed the patronage of more than a lakh employees under unified Andhra Pradesh, is slowly losing ground. Things are slipping away from the hands of the RTC management and the society’s managing committee, which now owes employees more than Rs 1,000 crore.
According to sources, about 11,700 members of the society have already applied for withdrawal in the recent days. This was triggered by the news that a higher official had decided to withdraw from society in the month of April over apprehensions about the society’s future. Nevertheless, over the past few years, hundreds of employees have already withdrawn.
Some of the employees who applied earlier and withdrew their amounts feel lucky as things could go out of control of the corporation’s management any moment and the Registrar of Cooperative Societies may have to intervene in the matter. “The current secretary may most likely be replaced by the management,” said an official. Telangana Jathiya Mazdoor Union (TJMU) general secretary K Hanumanthu said that the deducted amount of Rs 40 crore each month, which totals to Rs 1,080 over the years, had been diverted.
Moreover, the society was even unable to clear loans for staff members who had applied for it. 14,686 loan applications remain pending for the past two-years. “This is the hard earned money of employees, which should be ret u r n e d , ” d e m a n d e d Hanumanthu. Earlier in 2019, the issue landed before the High Court, which then directed the corporation to deposit Rs 200 crore to the society within six weeks. “We are hopeful that the matter will be resolved within the organisation and the society brought back to its past glory,” said E Ashok Kumar of the National Mazdoor Union (NMU).