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Syndicate Bank to implement court directive

BANGALORE: Syndicate Bank will `implement totally' the recent Supreme Court directives on minimum benefits to its `pigmy collection agents' (numbering around 3,200 across the country) for small savings, the bank's Chairman and Managing Director, C. P. Swarnkar, said here on Thursday. Speaking to reporters after launching the Pigmy Plus 2007 here, he said the bank had gone out of its way to help the agents. "Against the 2 per cent minimum commission directed, we are paying 3 per cent for some years and have decided to waive the entire difference, amounting to Rs. 34 crore,'' Mr. Swarnkar said.

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