LDF walkout over ordinance to disband Bank boards
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Last Updated: Thursday, March 08, 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.


First Published: Thursday, March 08, 2012, 14:42

Tag: LDFKerala
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