Business News | Disbursement of Pending Dues of British India Corporation Employees to Begin Saturday
Get latest articles and stories on Business at LatestLY. British India Corporation is a historic textile enterprise with roots dating back to 1876, headquartered in Kanpur.
New Delhi [India], June 23 (ANI): The disbursement of pending dues of employees at British India Corporation Ltd, a Public Sector Undertaking under the Ministry of Textiles, is expected to begin on Saturday.
The total amount to be disbursed for overdue salaries and retirement benefits to BIC employees comes up to Rs 80.17 crore, the ministry said in a release.
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The Union Budget 2023 had approved a disbursement towards the long-awaited resolution of these dues.
The amount allocated for salary and retirement dues for 1,101 employees across the BIC Head Office in Kanpur, CWM Branch (Lalimli) Kanpur, and NEWM Branch Dhariwal is INR 74.71 crore.
"The disbursement of the pending dues will bring immense relief to the employees and their families who have been enduring financial hardships since the cessation of production activity in 2009 at both units in Dhariwal and Lalimli Kanpur," the release said.
"The much-needed relief will benefit the employees at BIC Head Office in Kanpur and its units at Cawnpore Woollen Mills (CWM) Branch (Lalimli) in Kanpur and New Egerton Woollen Mills (NEWM) Branch in Dhariwal, whose salary and retirement dues have been overdue since June 2019 and June 2017, respectively."
British India Corporation is a historic textile enterprise with roots dating back to 1876, headquartered in Kanpur.
The corporation operates two woollen mills, one at the Cawnpore Woollen Mills (Lalimli) in Kanpur and the other at the New Egerton Woollen Mills in Dhariwal, Punjab.
"Despite enduring challenges in recent years, BIC remains committed to its employees and continues to explore avenues for business revitalization," it added. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)