What went wrong for Karuvannur bank employees and administration


M B Babu, Biju Paravath

Though other parties also employ their workers in the cooperatives, these kinds of issues may not arise. Congress, at the same time, is accused of taking bribes for the appointments.

Karuvannur bank | Photo: Mathrubhumi

Thrissur: Most of the cooperative banks run by CPM, including the Karuvannur bank, have a common issue: ego clashes between the employees and the administration.

CPM makes sure that their cadres are recruited as the employees of the banks administered by them. They are mostly area committee members. However, the administrators of the local branches of the banks will be CPM leaders from lower ranks. Hence the administration cannot override its employees while making decisions.

Though other parties also employ their workers in the cooperative banks, these kinds of issues may not arise. Congress, at the same time, is accused of taking bribes for the appointments.

Though the current recruitments are through the Kerala Co-operative Services Examination Board, they are not beyond the influence of the political parties.When the CPM employees take part in political activities, the functioning of the banks will be in trouble. Party will impart pressure on them to pass the loan applications.

Benami dealings

The Crime Branch collected evidence for the benami dealings from the raids conducted in the houses of the accused in Karuvannur cooperative bank scam. Raids at the houses of Biju Karim, Reji Anilkumar, Kiran, AK Bijoy, TR Sunilkumar, TK Jils recovered the documents of 29 loans worth Rs. 14.5 crore.

The investigators also collected information regarding the investments of the accused including the private companies registered in their names.

Government investigation

A nine-member team led by P K Gopakumar, Joint Secretary, Department of Cooperation, Binoy Kumar, Additional Registrar will probe into the scam. A primary report will be submitted within 10 days. Directions were given to submit the final report will be prepared within a month.

Though minister VN Vasavan told the Assembly that the fraud is of Rs. 104 crores, unofficial estimates go up to Rs. 300 crores. The Joint Registrar’s report suggests that the norms were violated while approving the loans. It also suggested for forensic examination of the computers and also to investigate the lapses of the officials of the Department of Cooperation.

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