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

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 8, 2012 - 14:42
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