The Khadi and Village Industries Commission (KVIC) today said it has signed an agreement with state-owned ONGC under which the oil major will provide khadi vouchers to employees as part of bonus. In a statement, KVIC Chairman V K Saxena said an agreement was signed with ONGC this year to provide khadi vouchers worth Rs 10,000 each to its regular employees and Rs 5,000 each to its non-regular ones. "KVIC will allow an additional 35 per cent incentive on these vouchers, thus enhancing the value of ONGC bonus to 135 per cent of its cash value for its staff.
These khadi vouchers can be used by ONGC staff over two months," Saxena said. ONGC has 34,236 regular employees and 1,063 non-regular staffers, KVIC said. "As a result, KVIC will get Rs 35 crore payment from ONGC due to this initiative. Considering 35 per cent additional supplement by KVIC, the total sale of KVIC products will be about Rs 47 crore over 2 months...," Saxena said. He further said the artisans attached to this special sales drive will be given an additional 5 per cent reward directly in their accounts through DBT.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)