THRISSUR: CPM’s Thrissur district secretary M M Varghese on Sunday criticised C K Chandran, the party’s former district secretariat member who was in charge of the Karuvannur Service Cooperative Bank, for failing to intervene despite being aware of the scam.
“Chandran failed to intervene effectively due to which the issue became so grave. It was after realising the lapses on the part of Chandran and other party leaders, including the bank’s director board members, that CPM took disciplinary action against them soon after the scam came to light,” Varghese told reporters.
“CPM never makes compromises for corrupt people,” said Varghese. He also assured depositors that their investments in the bank were safe and will be returned.
Sangh doesn’t want co-op sector to run smoothly: CPM Thrissur secy
“The state government is trying to resolve the crisis but some people are taking advantage of the situation and creating issues,” Varghese said. “As the cooperative minister announced, a financial aid of Rs 25 crore will be sanctioned from the Kerala Bank soon.
Another Rs 10 crore will also be sanctioned through a guarantee scheme for the bank so that depositors are able to withdraw the money soon,” he said. Varghese said the current controversy surrounding the bank is a result of the Sangh Parivar’s efforts to sabotage the cooperative sector in the state. “It is clear the Sangh Parivar doesn’t…
