Individual Takes His Life Following Financial Crisis at Kerala Cooperative Bank
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Idukki, Dec 20 (NationPress) Amid several Cooperative Banks in Kerala grappling with financial turmoil due to alleged misconduct, the lifeless body of a depositor was discovered hanging close to the Kattapana Rural Development Cooperative Society on Friday morning.
In his suicide note, Babu held the Secretary and two employees of the society accountable for his drastic decision.
Babu, a trader residing in Kattapana, had deposited Rs 25 lakh with the Society. After his wife fell ill, he sought to withdraw his funds.
As the “bank” was experiencing significant challenges, its officials informed Babu that they could only return his deposit in monthly installments.
On Thursday, Babu visited the bank but returned home disheartened after being unable to obtain any funds.
With his wife undergoing treatment in a hospital, he urgently needed financial resources for her medical care, but the bank officials humiliated him during his visit.
After Babu was reported missing from his home on Friday morning, a search operation was initiated.
During the search, Babu's body was discovered hanging near the bank.
Notably, two years prior, the local CPI-M leadership took control of the bank.
Upon hearing of Babu's suicide, local Congress and BJP members held a protest outside the bank, chanting slogans against the ineffective and corrupt management of the bank under CPI-M.
The Congress party initiated a movement demanding that senior revenue officials in the district arrive to conduct the inquest, stating that the body would not be moved for further procedures unless they appeared.
In the last two years, numerous complaints have been lodged against various Cooperative Societies (banks) throughout the state.
The largest scam, exceeding Rs 100 crore, was revealed at the Karuvannur Cooperative Bank in Thrissur.
The former Cooperative Minister and current CPI-M legislator, A. C. Moideen, along with former party legislator M. K. Kannan, have been questioned multiple times regarding the scandal that emerged at the Karuvannur bank.
