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Pension for coop. bank employees

Staff Reporter

ALAPPUZHA: The State Government has decided to pay pension to employees of district cooperative banks and primary cooperative banks, Minister for Cooperation G. Sudhakaran has said.

Inaugurating the delegates' meet of the All-Kerala District Cooperative Bank Employees' Congress (AKDCBEC) at Tachady Prabhakaran Nagar here on Saturday, Mr. Sudhakaran said it was the hurdles raised by the Union Labour department that was preventing the implementation of the decision. Once it was removed, the Government would implement its decision, said Mr. Sudhakaran.

The Minister said the deposit mobilisation drive of the State Cooperative Bank (SCB) had yielded good results and Rs.600 crore was mobilised in the State. Mr. Sudhakaran said 2.5 lakh new accounts were opened during the drive. Non-performing assets to the tune of Rs.70 crore was recovered.

Mr. Sudhakaran said the Government would not take action against any cooperative bank because of political reasons.

At the same time, the Government would not hesitate to take action against corrupt cooperative bodies, he added.

The Minister said a large number of organisations in the State had expressed their eagerness to start new cooperative societies. Such organisations included Malayalam Cine Technicians' Association (MACTA) and photographers' association, said Mr. Sudhakaran.

The former president of State Cooperative Bank K.R. Aravindakshan who spoke at the function said the opinion expressed by Mr. Sudhakaran at some venues that the bank had given huge loans that could not be recovered was wrong.

He said the SCB should identify and provide loans to sectors, which had the scope to generate profit.

Mr. Aravindaksahan asked the cooperative banks to think twice before providing loans to start educational institutions.

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