TSCAB chairman resigns from post

Hyderabad: In a surprise move, BRS senior leader K Ravinder Rao resigned from the post of Telangana State Cooperative Apex Bank (TSCAB) chairman on Friday.

The ruling Congress has been insisting the chairman to join the Congress and continue in the post but the BRS leader declined the offer and quit the post.

Speaking to media persons after resigning from his post, Ravinder Rao said he was not able to continue in his office as some of the members of the state co-operative society joined the ruling Congress recently. “Some members of the co-operative society have already joined the Congress party. I can’t continue in this post anymore. I took the decision to leave the chairman post ,” he said.

Rao said the State cooperative bank was formed in 2015 and the directors in the State co-operative bank switched sides. “I am resigning as the chairman and Mahender Reddy as vice-chairman of the society is also resigning. The cooperative system was strengthened in the state in the last nine years under his leadership.

NITI Aayog also praised TSCAB and asked other states to follow the Telangana cooperative system. TSCAB has also received several awards nationwide,” he said.

He hoped that the Congress government would adopt good policies in the future. He made it clear that they had not put retired officers in the cooperative system and added that he had not given positions to anyone of his own relation. He distanced himself from the scam committed by the employees of the society and Vani Bala issue and added that the issue had nothing to do with the bank.