Commission cut; REPCO bank DCCs observe fast

Chennai, May 2: Members of the REPCO Bank Daily Deposit Collector's Union, here observed a day's fast today, protesting against the bank management's more of reducing the commission percentage of the Daily Deposit Collectors (DDC).

Union president V Pragadeeswaran, who led the fast, in a statement pointed out that 200 DDCs working in 44 branches of the bank were getting commission of two per cent and one per cent for daily deposit collection and loan recovery respectively, that was fixed 20 years ago.

He said the DDCs were depending on the small percentage of commission and working for the growth of the bank without any salary and other benefits for the last two decades.

Despite their repeated pleas and the stay order given by Madras High Court against the Management's decision, the Managing Director of the Bank refused to pay the old percentage of commission. The slashing down of commission had put the DDCs to hardships and mental agony, he explained.

He also alleged that Bank management had threatened the members of the Union to give a written undertaking that they were not members of the Union.

Mr Pragadeeswaran urged Prime Minister Manmohan Singh and Union Finance Minister P Chidambaram to intervene into the issue and also direct the bank authorities to render justice to the DCCs.

UNI