Kerala bank: no second thoughts, says Thankachan

THIRUVANANTHAPURAM: Cooperation Minister Kadakampally Surendran’s reported statement that the UDF has mellowed its opposition towards the idea of a Kerala Bank mooted by the LDF Government has received a strong reaction from P P Thankachan, convenor of the Opposition front.

“There are no second thoughts or reconsideration in the UDF towards the proposal for a Kerala Bank, as the move would only destroy the state’s co-operative sector. The statement of the minister that the UDF has diluted its opposition against the Kerala Bank is misleading,” Thankachan said in a statement.

He said the UDF has been consistently opposing the proposal for a Kerala Bank. “People have no idea about the Sriram Committee report constituted for creating Kerala Bank. Those associated with the cooperative sector en block had recorded their strong dissent during the sittings of the committee. The 14 district co-operative banks are the backbone of the state’s cooperative sector. It was vindicated in many study reports as well while the need to retain the district banks in the present form was emphasized,” he said.

On the argument of the state government for filling the void after the merger of SBT with SBI, Thankachan said another commercial bank owned by the state itself should be started after availing of permission from the RBI. “Forming a Kerala Bank with political motives instead, after winding up district co-operative banks, will be stoutly opposed by the UDF,” Thankachan said.