Bharatiya Janata (BJP) accused the Indian Communist Party (Marxista) (CPI (M)) of plundering 5,000 GBP crore of the cooperative banking sector and demanding that the government to bring a white book.
At a press conference on Friday, PK Krshnadas, a member of the National Executive Committee of BJP, said that the LDF government has destroyed the state cooperative sector over the past 10 years.
The district cooperative banks, which used to be a rescue rope for the primary cooperative company in crisis situations, were merged into Kerala Bank. CPI (m) uses cooperative banks to expand the party and deposits of the poor in rural areas have been diverted to finance the activities of the parties and align the pockets of their own leaders, said Mr. Kishhnadas.
The case of karuvanur
He accused CPI (m) of the use of cooperative banks to wash black money and stated that Karuvannur banking frauds were the largest fraud of the cooperative sector in the country.
Mr. Krishhnadas said the BJP commission determined that the amount of cheated CPI (m) from cooperative banks is 5,000 GBP Crore and only from the Karuvanur bank, 328 GBP was increased. The public did not trust the cooperative sector because of this corruption, he added.
“The destruction of the cooperative sector and bringing the Keral economy to the brink of ruins must be the greatest administrative success of this government of LDF,” Krishnadas said.
Published – 26 September 2025 21:22 IS IS
