Vested interests trying to weaken Cooperative sector in Kerala: Minister

BJP had alleged that cooperative banks in Kerala were the 'hub' of black money.

By: PTI | Thiruvananthapuram | Published:December 24, 2016 5:38 pm

Kerala Cooperative Minister Kadakampally Surendran Saturday alleged that vested interests were trying to ‘weaken’ the state’s Cooperative sector, which was facing a crisis due to demonetisation. “To weaken the cooperative sector by all means, a small section of people with vested interests are even now making false allegations,” he told reporters in Thiruvananthapuram.

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BJP had alleged that cooperative banks in Kerala were the ‘hub’ of black money. Surendran said the raids this week at Malappuram District Cooperative bank did not not unearthed any black money or brought to light any irregularity.

Denying reports he had huge deposits at Kadakampally Service Cooperative bank, the minister said he would welcome any search by Income Tax Department, CBI or Enforcement Directorate at the bank. The minister denied media reports he had expelled a member of his personal staff following corruption allegations and said the man had resigned on his own due to ill health.

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