Bonus for Singareni Collieries staff

Employees of the State-owned Singareni Collieries Company Limited will get a bonus of ₹48,500 per head on November 6, before the ensuing Diwali festival. This will mean a total outgo of about ₹260 crore to the staff. Earlier, the mining company management, in line with the directives of Chief Minister K Chandrasekhar Rao, had handed over 21 per cent of the profit as part of the profit sharing between the management and the employees. During the payment then, it entailed a total outlay of ₹102.99 crore for the management. Later, the staff was also extended ₹18,000 as advance per employee during the Dasara festival season.