KOLLAM: With the Central Government and RBI imposing severe restrictions on the operations of District Cooperative Banks (DCBs) post demonetisation, Kollam District Cooperative Bank president K C Rajan alleged that it was a deliberate move to dismantle the cooperative sector of the state.
According to Rajan, the findings of the Centre that cooperative banks were the main source of black money were aimed at crippling the institution and added that it was nothing but political vendetta.
“It’s for mere political gains that the Central Government is placing severe restrictions on the cooperative sector. It’s a well-known fact that the cooperative sector has played a key role in stabilising the rural economy of the state.