In an election year Tamil Nadu Chief Minister has become large-hearted and eager to distribute freebies. In this course she has also heeded to demand of cooperative staff and answered their five-year old grievance.
Jayalalithaa has hiked wages of the employees of the primary cooperative credit societies and urban cooperative banks in the State on Thursday leading to a pressure of Rs 40.22 crore on the state exchequer.
The hike for the PACS employees will range from Rs 558 to Rs 5,661 and the wage hike for the 1,701 employees of the 120 urban cooperative banks will range from `419 to Rs 9,344 per month.
There are 4,524 primary cooperative credit societies functioning in Tamil Nadu. Of this, 671 have netted continuing profit while 3,442 have netted profit only during some years. Besides, 411 societies are running losses.
Registrar of Cooperatives has finalized the recommendations.