by Haryananewswire

CHANDIGARH, NOV 5

The Haryana Chief Minister, Mr. Bhupinder Singh Hooda today announced to release arrears of sixth pay commission to Central Cooperative Banks employees of the state.

          While giving this information here today, Cooperation and Housing Minister, Mr. Satpal Sangwan said that it would be a Diwali bonanza for the employees. He said that this decision would cost about Rs.61.63 crore to banks. He said that arrears would be paid in two years as per policy of the government. The payment would be released in three installments in the ratio of 40 per cent, 30 per cent and 30 per cent. No interest would be payable on arrears.

          Mr. Sangwan said that earlier, financial position of some of the banks were not sound. Now as per the profit and loss account statement, financial position of banks had improved and it seems that recovery likely to be increased in next three years. He said that payment of arrears between January 1, 2006 and December 31, 2008 would be made as per new pay scales  at the level of the banks only and  the State Government would not give any contribution. Registrar, Cooperative Societies would be competent to increase the number of installments.

          The Minister said that Chief Minister had again taken a pro-employees decision by announcing to release the sixth pay commission arrears of cooperative bank employees.