Pension scheme for cooperative bank staff, assures NAFSCOB chairman

He also assured to examine into providing pay scales to the cooperative bank staff after constituting a committee. With regard to the introduction of 2-tier system of cooperative banking sector

Karimnagar: Chairman of National Federation of State Cooperative Banks limited (NAFSCOB), Telangana State Cooperative Apex Bank (TSCAB) and Karimnagar District Cooperative Central Bank (DCCB), Konduru Ravinder has assured to examine the possibility of providing a pension scheme for the cooperative bank staff to help them lead a decent life after their retirement.

He also assured to examine into providing pay scales to the cooperative bank staff after constituting a committee. With regard to the introduction of 2-tier system of cooperative banking sector by merging the DCCBs with the TSCAB, he said that “It is not 2-tier or 3-tier system. It is for better service provider to the customer”.

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Maybe the proposed Banking Regulation Act, 2020, which would come into force from April 1 onwards in the country, wherein the Reserve Bank of India (RBI) would take up the cooperative sector banks also would look into the issue of merger of the DCCBs with the TSCAB, he stated and pointed out:“Definitely there will be a time very soon when the issue of merger of cooperative banks would be discussed”.

On the occasion of unanimous selection of Konduru Ravinder Rao as the NFSCOB chairman recently in Mumbai, the Telangana State Cooperative Bank Employees Association members had organised a felicitation programme in Karimnagar town on Saturday night.

Speaking on the occasion, Ravinder Rao called upon the Karimnagar DCCB staff to uphold the image of the bank, which had emerged as the number one cooperative bank in the country, by increasing the business. Assuring to increase the bank branches in the district, he also urged upon the employees to convert the existing Primary Agriculture Cooperative Societies (PACS) as the bank extension counters by utilising the available technology to provide the services to the customers.

Explaining the dream and motto of the KDCCB was to strive to increase the rural economy, he said that the institution and the employees’ welfare should go hand in hand and assured all assistance for the employees if the institution was functioning well. Attributing the success of the bank and his elevation to the national level as NAFSCOB with the support of employees and directors of the bank, he also thanked the senior Congress leaders and former Ministers T Jeevan Reddy and J Ratnakar Rao and his brother Konduru Gandhi for entering into the cooperative sector by becoming the PACS chairman from Gambhiraopeta mandal.

The Telangana State Cooperative Bank Employees’ Association president A Mallesham, general secretary V Surender and others urged the TSCAB chairman to merge the DCCBs with TSCAB. They were also all praise for Ravinder Rao for bringing reputation to the KDCCB and Telangana state with his elevation to the NAFSCOB as its chairman.

DCCB vice chairman P Ramesh, director V Mohan Reddy, CEO N Satyanarayana Rao, Women’s wing leader Lavanya, general manager B Sridhar, DCMS chairman A Srikanth Reddy, bank staff and retired bank employees were also present. They also felicitated Mr Ravinder Rao on the occasion.

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