Representative Image: KSRTC buses | Photo: Mathrubhumi
Thiruvananthapuram: The plan of forming a consortium of co-operative sector banks and societies for pension disbursal in KSRTC gets momentum at a time when the pension distribution has been prolonging over financial crisis. The state government and KSRTC management has signed a memorandum of understanding as a first step. However, formation of consortium will delay as long the state government delay the fund transfer.
KSRTC will require Rs 60 crore for one month’s pension payment. At present, the pension for the month of July has not been settled. On July 5, the pension for the month of August will add up as another burden.
It is learnt that formation of consortium and distribution of pension will at least take a week’s time.