THIRUVANANTHAPURAM: Opposition leader Ramesh Chennithala has shot off a letter to Prime Minister Narendra Modi seeking his intervention to lift new banking regulations in the co-operative sector.He said the functioning of cooperatives had come to a standstill affecting lakhs of account holders in the state. He shared sentiments of the people against the Union government’s alleged assault on the sector and denial of an audience to an all-party delegation from the State. He said it had hit the state’s economy severely.
“Businesses and small scale industries are hit. Small-scale traders, labourers, fisher folks, etc., have been terribly affected leaving them jobless. The tax revenue of the State has also been hit badly. But unfortunately compared to other States, it is the co-operative sector which has been badly affected,” he said.
He also informed him that there were 1,625 primary co-operatives with 2,700 branches, 14 district co-operative banks having 784 branches and they have since been unable to work efficiently. He warns that if it continues the co-operative sector will be in dire straits. He expressed displeasure in the way in which Kudumba-shree and Ayalkoottam units have been unable to do their businesses.
