-
ONGC’s bonanza to KVIC: Rs.140 million sales in 2 months
A deal between Khadi and Village Industries Commission (KVIC) and ONGC has brought cheers to Khadi institutions in Gujarat which have seen never-before sales of over Rs.140 million in just two months. ONGC usually distributes bonus and gifts to its employees in the form of cash, recognising their services and rewarding their work. In January 2017, however, ONGC had reached an agreement with KVIC and rewarded its staff in kind. V K Saxena, Chairman, KVIC, said here on Monday that following the deal, ONGC rewarded its employees in kind, at a value higher than the cash value of bonus or gift. Accordingly, ONGC provided Khadi vouchers worth Rs. 10,000 each to its regular employees and Rs. 5,000 each to its non-regular employees. KVIC allowed an additional 35 per cent incentive on these vouchers, thus enhancing the value of ONGC bonus to 135 per cent of its cash value for its staff. These Khadi vouchers can be used by ONGC staff over a period of 2 months.
KVIC will get Rs 350 million from ONGC due to this initiative. The total sale of KVIC products will be more than Rs. 500 million, including Rs. 100 million as wages. Saxena said the artisans attached to this special sales drive will be given an additional 5 per cent reward directly in their accounts through DBT. KVIC provided quality Khadi products through 16 special exhibitions within the ONGC premises in Gujarat, so that its employees get the products at their doorsteps. KVIC, though this partnership, is likely to generate 0.650 million extra man days for its Khadi artisans, increasing employment opportunities. Albert Wilson Jersey
Share This
