LDF walkout over ordinance to disband Bank boards

Last Updated: Thursday, March 8, 2012 - 14:42

Thiruvananthapuram: CPI-M led LDF opposition
today staged a walkout in the Kerala Assembly protesting an
ordinance disbanding director boards of State District
Co-operative banks and imposing administrative rule.

Moving a calling attention on the matter, E P Jayarajan
(CPI-M), alleged that the UDF Government suspended the
director boards of the banks with a view to capturing their
administration now under the control of LDF.

Among the 14 State District Co-operative Banks, 13 were
ruled by LDF and IUML manages the Malappuram District
Co-operative Bank.

Jayarajan said that Co-operative register department was in
the process of according recognition to some of the `paper
primary societies`, allegedly floated by UDF sympathisers,
that would have the voting rights to help the UDF.

He demanded that the government withdraw the ordinance and
restore democracy in co-operative sector.

Replying to the calling attention, Cooperation Minister C N
Balakrishnan denied the opposition charge and said the
ordinance was only to correct a "mistake" carried out by the
previous LDF rule.

The LDF government had cancelled the recognition of certain
primary societies holding that they did not carry out banking
operations.

Dissatisfied with the government`s stand, leader of the
Opposition V S Achuthanandan walked out of the House along
with other LDF members.

PTI



First Published: Thursday, March 8, 2012 - 14:42
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