TAMIL NADU

Cooperative bank employees observe fast

CAUGHT IN A PREDICAMENT: Members of the Tamil Nadu State Cooperative Bank Employees Association observing a fast in the city on Friday. — Photo: K. Ganesan

CAUGHT IN A PREDICAMENT: Members of the Tamil Nadu State Cooperative Bank Employees Association observing a fast in the city on Friday. — Photo: K. Ganesan  

"Nearly 24,000 employees were yet to draw their salaries"

Staff Reporter

MADURAI: Most of the primary cooperative banks in the State are in a financial crisis and unable to meet even administrative expenses, according to the Tamil Nadu State Primary Cooperative Bank Employees Association.

Observing a hunger strike here on Friday, the association members alleged that nearly 24,000 bank employees were yet to draw their salaries for the past six months.

Absence of guidance from the Cooperation department had landed these financial institutions in trouble and hence they were neither in a position to recover loans nor to repay deposits, it alleged.

Following the hunger strike, the association has proposed to organise a State-level rally in Chennai on September 9 and submit a memorandum to Chief Minister Jayalalithaa, if the authorities failed to improve the situation in the meantime.

In its memorandum sent to the Commissioner of Cooperative Societies, the association had listed nine demands to invigorate the primary cooperative banks. Pointing out that the Registrar of Cooperative Societies had recently discontinued the deposit schemes in these banks, the association urged the authorities to allow them to recommence the schemes without any restrictions.

It also demanded absorption of the staff of dissolved primary cooperative banks in central cooperative banks and allocation of sufficient funds to the banks. It also requested the Government to quash Section 164 A of the Cooperatives Act, which enables arrest of employees without any enquiry.

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