Cooperative bank employees observe fast at many places

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Showing discontent: Bank staff observing a fast at Vannarapettai in Palayamkottai on Friday.
Showing discontent: Bank staff observing a fast at Vannarapettai in Palayamkottai on Friday.

Madurai Bureau

TIRUNELVELI: Members of Confederation of Tirunelveli and Tuticorin Districts Cooperative Bank Employees’ Associations observed a fast here on Friday pressing various demands.

The protestors said that the government, besides designing a pension scheme for the cooperative bank employees, should disburse pension to the retired employees on compassionate grounds. The cooperative banks should be exempted from being paying income tax and they be allowed to give crop loans at the interest rate of 5 per cent.

All branches of cooperative banks should be computerised to render prompt and swift service. Besides filling vacancies in cooperative banks, new pay scale should be framed for the employees of Central Cooperative Banks.

Recommendations of Prof. Vaidhyanathan Committee, which was formed to rejuvenate the cooperative banks being controlled by politicians, National Bank for Agriculture and Rural Development (NABARD), Reserve Bank of India etc., should be implemented without further delay.

The president of Tirunelveli District Central Cooperative Bank, T. Ramasamy, presided over the protest. It was inaugurated by the general secretary of Tirunelveli-Tuticorin Districts Bank Employees’ Association, R. Rengan.


Employees affiliated to All India Co-operative Bank Employees Federation observed a fast to press their charter of demands.

The agitators demanded ex-gratia pension at the rate of Rs. 2,500 a month for people who had retired from service before December 31, 2007. An alternative pension scheme should be formulated for those who superannuated from January 1 this year. The Centre must direct the NABARD to provide refinance to the State cooperative banks up to 80 percent of the crop loan disbursement at 2.5 percent interest.

This would enable the financial institutions in the cooperative sector to provide farm credit at less than five percent interest, they said.

Ganapathy Subramanian, Town Secretary, Communist Party of India, inaugurated the agitation.


Members of All India Cooperative Bank Employees’ Federation observed a fast in front of the Collectorate here. The convener of the district association, Durai Swamy, led the agitation.




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