A settlement was reached between the various State Transport Undertakings (STUs) management and its staff here on Saturday on all outstanding issues, including wage revision as per the Sixth Pay Commission recommendations.
An agreement was signed in the presence of Transport Minister K.N. Nehru.
The government had earlier promised to set aside a sum of Rs.521.45 crore to finance the settlement.
All Transport Corporation employees will receive one portion of their wage arrears, amounting to Rs.7,000, on January 10.