TN Co-op Bank Employees to strike on April 4

The Tamil Nadu Cooperative Bank Employees' Federation plans to go on fast in front of all district headquarters across the state on April 4.

Speaking to reporters in Chennai on Thursday, P Balakrishnan, general secretary, Tamil Nadu Co-Operative Bank Employees' Federation, said that the co-operative bank employees who have retired till December 31, 2007 should be paid ex-gratia pension of Rs 2,500 per month.

"While all employees in the entire financial sector are given ex-gratia, why not co-operative bank employees?" he questioned.

Balakrishnan said that co-operative banks should continue to get exemption from income tax. The government should repeal the amendment to Section 80P of the IT Act. He added that the government has given tax relief of more than Rs 1,50,000 crore for big corporate houses, while co-operative banks are still taxed. The federation demanded that the amendment to Section 80P of the IT Act should be repealed.

The Federation urged the Centre to direct Nabard to refinance state co-operative banks upto 80 per cent towards crop loan disbursement at 2.5 per cent interest.

Further, the federation urged the state government to accept the recommendations of Prof A Vaidyanathan's task force on short-term agricultural cooperative banks.