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Cooperative bank employees seek pension

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AGITATION: Cooperative bank employees staging a dharna in Madurai on Friday.
AGITATION: Cooperative bank employees staging a dharna in Madurai on Friday.

Government urged to expedite infusion of funds to banks

MADURAI: Cooperative bank employees in southern districts staged a dharna here on Friday to highlight various demands, laying emphasis on pension.

Rallying under the banner of Madurai-Ramanathapuram District Cooperative Bank Employees Unions’ Coordination Committee, the protestors demanded ex-gratia pension of Rs. 2,500 a month for retirees.

The strike call was given by All India Cooperative Bank Employees’ Federation. Employees in the entire financial sector were being given pension, a statement issued by the committee said, while only the cooperative bank employees were denied the facility.

They also demanded an alternative pension scheme for employees who retired from January 1, 2008. Under this, the existing Employees’ Pension Scheme 1995 should be operational and a pension corpus created by pooling the balance available in Employees’ Provident Fund Account after remittance of Rs. 541. The organisation also called for the implementation of the recommendations of the report of a task force headed by A. Vaidyanathan and urged the Government to expedite the infusion of funds to cooperative banks in the form of recapitalisation as per the memorandum of understanding signed with National Bank for Agriculture and Rural Development (NABARD) by 17 State governments.

The clientele in the cooperative banks must also be given technology-based service for which computerisation and other similar requisite infrastructure should be created.

The vice-president of All India Trade Union Congress (AITUC), Sivaganga, P.L. Ramachandran, inaugurated the agitation.

Representatives from State apex cooperative banks, district central cooperative banks, urban cooperative banks, agriculture and rural cooperative banks, industrial cooperative banks and primary cooperative banks/societies participated in the agitation.

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