Primary co-op banks to disburse pension in Kerala

Kerala department of co-operation has brought up the idea that a consortium of co-operative banks would disburse pension to retired KSRTC employees, reports Times of India.

This would mean each primary co-operative bank under a local body institution would distribute pension depending upon its financial resources.

The loans being disbursed will be repaid by the state government at an interest of 10%. This negates any chances of risk in this collaboration.

The total pension arrears of KSRTC amount to Rs 224 crore.

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