The Hindu : DA hike for staff in coop. sector

Online edition of India's National Newspaper
Friday, Mar 28, 2003

Southern States

Southern States - Kerala

DA hike for staff in coop. sector

By Our Special Correspondent

THIRUVANANTHAPURAM MARCH 27. The State Government has announced a hike in the Dearness Allowance (DA) for employees in the cooperative sector in tune with the two DA instalments announced for its employees.

Addressing a press conference here today, the Cooperation Minister, M. V. Raghavan, said that the usual practice in the cooperative sector was to announce a DA hike whenever the State Government announced a hike for its employees. Employees in the State Cooperative Bank, District Cooperative Banks, Agriculture Development Banks, and Urban Cooperative Banks were enjoying DA at a rate of 41 per cent and those employed in other cooperatives were getting 38 per cent DA.

He said that in the light of the Finance Minister, K. Sankaranarayanan's announcement of two DA instalments for Government employees, it had been decided to fix the DA at 43 per cent for all employees in the cooperative sector uniformly. As per this, employees in the State Cooperative Bank, District Cooperative Banks, Agriculture Development and Urban Cooperative banks would be eligible for a two per cent DA hike and those in other cooperatives would get a five per cent DA hike.

The Minister said that 35,000 employees in the cooperative sector would be benefited by this decision. He said that the DA hike was proof enough of the pro-labour policies of the UDF Government. Of the 14 district cooperative banks, 12 had made a profit of Rs 17.5 crores, while two DCBs, Kottayam and Thrissur, had incurred a loss of Rs. 22 crores. The Primary Agriculture Cooperative Societies had incurred a loss of Rs. 225 crores.

The Minister said that all cooperatives in other sectors would be brought under the pension scheme. The Housing loan limit has been increased to Rs 2.5 lakhs. He said that employees would be allowed pension commutation subject to a limit of Rs 1.5 lakhs.

He said that employees in the Indian Coffee House would be allowed 12 per cent hike in their basic pay with effect from November 1, 2001. Employees would get one year's wage arrears in cash. Similarly, the Housingfed employees would also get a 20 per cent hike in the basic pay.

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