City
Epaper

Kerala opposition asks CM to resolve Muthoot strike

By IANS | Updated: September 6, 2019 19:40 IST

Leader of opposition in Kerala and senior Congress leader Ramesh Chennithala on Friday asked Chief Minister Pinarayi Vijayan to resolve the ongoing strike called by a small section of its employees of Muthoot Finance, a leading non-banking financial company (NBFC).

Open in App

The strike, however, has not affected the company's operations outside Kerala.

"If this does not happen, it will spread a bad message across, when Vijayan and his government is promoting Kerala as an investment friendly destination. Whatever may be the issues, the strike has to end," said Chennithala, speaking to the media here.

Since August 20, a small section of the Muthoot staff has been on strike with support from the Communist Party of India-Marxist (CPI-M)-backed Centre for Indian Trade Union (CITU).

On Thursday, the Kerala High Court directed the state government and the police to give protection to employees of Muthoot, who report for work.

The orders of the high court, however, failed to evoke any response on Friday, as the small section of protesters continued to disrupt the functioning of its Kozhikode office.

Muthoot Finance has 3,600 branches in the country, of which 600 branches are in Kerala. It employs over 30,000 people across the country.

There have been no business transactions in Muthoot's 300 branches in Kerala since August 20 on account of the strike.

All eyes are now on the conciliation efforts by the Kerala government when talks take place on Monday, with State Labour Minister T.P. Ramakrishnan mediating.

The Muthoot management said that the unrest has been going on for the past three years owing to which the company has lost 66 per cent of its business in Kerala, that contributed 11 per cent of their all-India business when the strikes began in 2016, which is now down to four per cent.

However, Muthoot Finance as a company has grown by 50 per cent during this period (between 2016 to 2019) from Rs 25,000 crore to Rs 35,000 crore.

The management has said that they are not financially dependent on Kerala for the company's survival, which claim has been contested by the CITU.

( With inputs from IANS )

Tags: keralaMuthoot FinanceVijayanChennithala
Open in App

Related Stories

MumbaiMumbai: ISKCON Temple in Girgaon Receives Bomb Threat Email; Police Launch Probe

EntertainmentVS Achuthanandan Passes Away: Former Kerala Chief Minister Dies at 101

NationalVS Achuthanandan Passes Away: Former Kerala Chief Minister and Veteran CPI(M) Leader Dies at 101

InternationalIndian Woman and 1.5-Year-Old Infant Found Dead in UAE; Husband, In-Laws Booked for Dowry Harassment

NationalNipah Virus in Kerala: 57-Year-Old Man Tests Positive for Nipah in Palakkad Day After Death

कारोबार Realted Stories

BusinessAir India cancels Singapore-Chennai flight due to technical snag in plane

BusinessWhere Does Your PF Money Go? Here's How EPFO Manages Your Retirement Fund

BusinessDPIIT ieam visits Bengaluru to boost IoT and Deep-Tech innovation

BusinessIndia's smartphone exports hit record $7.72 billion in Q1FY26, Apple leads with $6 billion

BusinessGujarat ranks 2nd in marine fish production, estimated to be 10.37 lakh MT in 2024-25