Govt grants Rs 71 cr for KSRTC pensions

THIRUVANANTHAPURAM: The government has sanctioned Rs 71 crore for pensions in KSRTC for the month of May. The disbursement of pension was stalled due to the interest dispute with the co-operative banks. It is customary for the consortium of cooperative banks to provide the pension amount as a loan and the government repays it with interest. The cooperative department's demand to increase the interest rate from eight and a half to nine percent has not been decided. Similarly, the pension for the months of March and April was also delayed. Organizations are protesting in front of the Chief Office following the pension freeze. The June pension was to be paid on June 5th. There is no guarantee when that will happen.