High incidence of lapses found in UDF-run coop banks: Report

The data, which emerged in the media on Thursday, is perceived as an attempt by the LDF government to tackle the issue of irregularities. 
Illustration used for representational purpose.
Illustration used for representational purpose.
Updated on
1 min read

THIRUVANANTHAPURAM: While the LDF has come under scrutiny for its involvement in the Karuvannur bank scam,documents supposedly leaked to the media suggest a higher prevalence of irregularities within cooperative institutions governed by the UDF. According to the document, reportedly culled from data available with the Registrar of Cooperative Societies following a probe, approximately 75% of the reported irregularities in cooperative societies in the state are associated with director boards aligned with the UDF.

The data, which emerged in the media on Thursday, is perceived as an attempt by the LDF government to tackle the issue of irregularities. 

This comes at a time when the Left is facing challenges in addressing the frauds reported across various parts of the state. The Left has been attacking the involvement of the ED, characterising it as a political battle aimed at undermining the successful cooperative sector in the state.

The documents show that irregularities were reported in a total of 272 societies, with 202 of them being governed by  pro-UDF director boards, 63 by the LDF, and 7 by the BJP.

The state is home to a total of 16,255 cooperative credit societies. Cooperation Minister V N Vasavan had informed the assembly that various types of  irregularities had been reported in various cooperatives over the past six years. 

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com