Devaswom’s money to cover up Co-operative bank’s corruption

via HK published on September 30, 2007

Thiruvananthapuram: Communist controlled Co-Operative banks are now facing dire consequences for violating the rules directed by Reserve Bank of India.


A Huge sum of more than 200 Crores of rupees given to CPM Controlled RUBCO by the bank is now under the RBI Scanner. The Money given as loan to RUBCO was never returned back and banks haven’t fulfilled any formalities prior to giving loan.


When Hundreds of farmer’s suicide in fear of legal action and recovery from Co-Operative banks, The Communist controlled Co- Operative banks are not taking any action to recover this huge amount from RUBCO.


The Co-Operative Minister Sudhagaran who talks in tonnes while accusing the corruption in Devaswom Boards and the in efficiency of IAS Officers is silent in this grave issue.


Sudhagaran’s direction to fill the coffers of communist owned Co-Operative banks from the money of Devaswom is to cover such corruption by his party in Co-Operative banks.      

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