Kerala Bank will destroy state’s cooperative sector: KPCC
THIRUVANANTHAPURAM: KPCC president Mullappally Ramachandran has said the launch of the Kerala Bank in February will sound the death knell for the cooperative sector in the state. He said the government has dissolved 13 district cooperative banks through a single ordinance during Vengara by-election and announced the formation of the Kerala Bank.
“Who has given the power to the Left government to destroy the cooperative banks and open a commercial bank?” he asked. He said there are major differences between cooperative banks and commercial banks and added that the move will finish off the cooperative movement in the state.
Mullappally said during the UPA government’s tenure, the cooperative sector was made a fundamental right. When the Parliament passed the Constitutional amendment to include cooperative sector in the fundamental right, it was considered a revolutionary exercise by lakhs of cooperative sector activists across the country.
Mullappally said when Kerala Gandhi K Kelappan had tried to start cooperative sector in the state, the then Communist leadership rebuked and insulted him. The same organisation later took over several cooperatives started by the Congress using force.
“The state government has all the rights to start Kerala Bank, but it should not be opened by drenching the cooperative sector of the state in blood,” said Mullappally.