Muthoot Finance, Kerala-based financial services company, a leading firm in offering loans against gold, sent an internal message to its employees on Wednesday (28 August)that the company would be forced to shut some of its branches in Kerala.
Muthoot seems to be the latest victim of trade unionism in Kerala. The financial service company which has about 3000 employees in its payroll and at least 450 of them owe allegiance to the Non-Banking and Private Finance Employees Association (NBPFEA). This association is affiliated to the Centre for Indian Trade Unions (CITU), the worker’s arm of the Communist Party of India (Marxist). It is these 450 employees who have been under strike for almost a week now, demanding a revision in their salary.
BJP leader Sandeep G Varier has now taken a dig at the Left protest on Muthoot issue. He was playing with the word ‘Muthoot’ which if slightly modified, would turn into ‘Mothamoot’ which in Malayalam means ‘squeeze everything’.
CITU may have made the protest since they felt there is no need to have two ‘Mothamoot’ in the same state. There is already the ‘Pinarayi and Sons’ to do that,” he wrote on Facebook. (Original Facebook post below)