KOCHI: At 61, Ramani Rajappan does not know which door to knock on to reclaim the money deposited nearly two decades ago for her old age. The Rs 50,000 kept in Manjalloor Rural Cooperative Bank, Muvattupuzha, in 2005, after her husband, Rajappan, a tree cutter, died in a workplace accident, was meant to be her financial cushion in later life. Today, that lifeline is trapped in a legal and administrative maze following the exposure of large-scale malpractice in the bank two years ago. Now battling health issues and unable to work, Ramani finds herself running from office to office to get her money back.
Ramani is just one among hundreds of ordinary depositors, farmers, daily wage workers, pensioners, whose savings have been locked up after what officials have described as a “well-planned loot” at the Manjalloor bank. On July 16, 2025, Assistant Registrar (General), Muvattupuzha, Jisha Jose, submitted an inquiry report to the state government under Section 68(1) of the Kerala Co-operative Societies Act.
The report indicted the former leadership of the bank in scathing terms, stating that the misappropriation was carried out with the involvement of Mini Paul, who was discharging the duties of secretary, along with head office staff, under the leadership of former president (late) Joy Maliyekkal and former honorary secretary Dominic Scaria.
“They arbitrarily misappropriated the deposits that remained, treating them as if the money belonged to their own personal cash box,” the report said.Yet, despite the submission of this damning report, relief remains elusive.
According to estimates, the malpractice at Manjalloor Bank amounts to over Rs 22 crore, affecting hundreds of depositors. “Despite the inquiry report clearly establishing irregularities, no effective action has been taken to release depositors’ money,” says Shaju George, convenor of the Manjalloor Bank Action Committee.
Responding to the allegations, current bank president Cyril Joseph said that board members became aware of the malpractice only after the death of former president Joy Maliyekkal. “We are taking steps to recover the lost money through legal procedures, but it will take time,” he said.