Kerala CM warns against forces who try to destroy cooperative sector to help big corporates

Kerala Chief Minister Pinarayi Vijayan on Tuesday cautioned against ''some forces'' who have been on a ''mission'' for some time to destroy the cooperative sector in the state, and alleged that their real agenda is to divert the funds in the sector to help big corporates.

Both the public and cooperative sectors had enjoyed great prominence in the country during the post-independence period, but the situation changed after the nation embraced globalisation, he said.

Since then, the country has been witnessing several moves to destroy the cooperative sector, and it is still continuing, he said.

Vijayan was speaking after inaugurating the Sahakarana Varaghosham (loosely translated as Cooperative Week Celebrations) programme here.

''Though the cooperative sector in Kerala is very strong, some forces are on a mission to destroy its foundation, sabotage the state's economy, and push the lives of ordinary people into misery,'' he said.

The attempt to destroy the cooperative sector is not a sudden move but began long ago, he said.

The CM alleged that the Centre's note ban some years ago and the widespread campaign that the cooperative institutions in the state were abodes of black money were part of such moves.

Those who are in power at the Centre are looking at whether they can divert the funds in the cooperative sector to turn into the capital of big corporates, Vijayan further charged.

''This is the time of crony capitalism. The real agenda behind the move is to make use of the funds in the sector to support them (corporates),'' he said.

The Left veteran also warned of stringent action against individuals and institutions that try to engage in corruption and malpractice in the cooperative sector.

He also urged people in the sector to pay extra vigil against malpractices and ongoing moves to destroy their institutions.

The Enforcement Directorate, which is investigating the multi-crore Karuvannur bank scam, recently arrested a local CPI(M) leader and Wadakkanchery Municipal Councillor P R Aravindakshan.

The agency also arrested a former employee of the bank C K Jills, who allegedly syphoned off Rs 5 crore in bank funds.

The ED had earlier arrested two people in connection with the alleged issuance of 'benami' loans from the bank.

On September 11, CPI(M) leader and MLA A C Moideen was interrogated for over nine hours by the ED.

The investigation into the alleged fraud, beginning in 2010 in the Thrissur-based bank, stems from 16 FIRs registered by the Kerala Police (crime branch) in Thrissur.