Representative Image | Photo: ANI
Thiruvananthapuram: The Kerala government will start distribution of welfare pensions to more than 57 lakh beneficiaries from Friday and will complete the process by September 5, ahead of Onam festival.
The government had decided to take a loan of Rs 3,000 cr to meet the demands of the Onam season. This is besides the Rs 1,000 cr credit taken on Tuesday.
The government had allotted Rs 1,540 cr to Kerala Social Security Pension Limited (KSSPL) to pay the welfare pensions of July and August together.
Though not announced officially, the government has decided to pay a bonus of Rs 4,000 and a special festival allowance of Rs 2,750 to employees. There is no hike this time. Rs 15,000 can be taken as advance from salary on request.
The loans are taken through bonds issued by RBI. The auction of bonds for Rs 2,000 cr with a return period of 12 years and Rs 1,000 cr for 20 years will be held on Monday. The credit taken on Tuesday is for 15 years with interest of 7.76 per cent.
The RBI allowed Kerala to borrow up to Rs 17,936 crore till December this year. Of this, Rs 5,000 crore has been taken so far.
RELATED STORIES
IN CASE YOU MISSED IT
.jpg?$p=a5a9640&f=1x1&w=100&q=0.8)
.jpg?$p=e962c43&f=1x1&w=100&q=0.8)
.jpg?$p=71e446e&q=0.8&f=16x11&w=104)
.jpg?$p=a5a9640&q=0.8&f=16x11&w=104)
