Kerala govt calls special session over cooperative banking crisis

The decision to go for a special assembly session was taken at a cabinet meeting after the daylong agitation staged by the cabinet in front of the regional RBI office.

By: Express News Service | Thiruvananthapuram | Updated: November 19, 2016 4:34 am
rs 500 ban, rs 1000 ban, demonitisation, fake currency, fake notes, banks open, long lines, money exchnage, old notes, old notes exchange, ahmedabad news, black money, indian express news, india news Bank officials exchanging notes. (File)

Kerala Assembly will have a special session on November 22 to discuss the restrictions on the cooperative banking sector in the wake of the demonetisation. The decision to go for a special assembly session was taken at a cabinet meeting after the daylong agitation staged by the cabinet in front of the regional RBI office here. Chief Minister Pinarayi Vijayan and his cabinet colleagues held the sit-in from 10 am to 5 pm.

After the RBI prevented the cooperative banks, mostly controlled by non-BJP parties, from exchanging the scrapped notes, account holders have been left high and dry, the state government claimed. Congress-led Opposition UDF has extended support for the government agitation.

Vijayan said: “Those who have ventured out to destroy the cooperative sector should be resisted.’’

BJP former state president V Muraleedharan said the CPI (M) agitation was in support of protecting the black money.