Karimnagar Cooperative Urban Bank Set for Elections After 8 Years
The last date for filing nominations is October 23, the first step in the election process.
Karimnagar: After running without an elected body for eight long years, the Karimnagar Cooperative Urban Bank is finally set for elections. The official schedule was released, with polling to be held on November 1 and the new board to be formed by November 4, prompting major political parties to prepare their panels and strategies for the contest.
The crucial election notification was issued following High Court orders, marking the end of a long power vacuum and the beginning of an intense political battle for control of the bank’s governing body. The last date for filing nominations is October 23, the first step in the election process.
The bank’s administration has remained in limbo since the term of the last elected body expired in April 2017. A legal deadlock, mainly due to objections over the voter list, was broken when the High Court intervened two months ago, directing officials to hold elections within 10 weeks. The final polling and counting will take place on November 1.
The election is expected to be fiercely contested, given the high stakes involved in controlling the Urban Bank. The bank has a total voter base of 9,287 members, with 7,272 from Karimnagar district and 2,015 from Jagtial district. Polling will be held at two locations, the Government Women’s Degree College in Karimnagar and the Government Girls Junior College in Jagtial.
The main contest is expected between the Congress, BJP, and BRS. State Transport and backward class welfare minister Ponnam Prabhakar has taken charge of the Congress campaign, directing local leaders to prepare a strong panel. For the first time, the BJP is also deeply involved, with district leaders finalising their panel and awaiting approval from Union minister of state for home affairs Bandi Sanjay Kumar.
Sanjay Kumar shares a personal connection with the bank, his political journey began there as a director, and he played a key role in saving the institution from potential closure by the Reserve Bank of India (RBI) in the past. Meanwhile, the BRS leadership is holding discussions with former minister and MLA Gangula Kamalakar to decide whether to contest officially.
The election schedule follows a period of internal strife and controversy, including a long-standing tussle between two groups in the bank. The dispute centred on outgoing ad hoc chairman Gaddam Vilas Reddy, who in August cancelled the memberships of 15 former directors, including former chairman Karra Rajashekhar, citing High Court orders and alleged financial irregularities between 2007 and 2017.
However, the High Court later invalidated the cancellations, paving the way for the current elections and allowing the former directors to contest. Rajashekhar Reddy opposed the termination, claiming the meeting lacked quorum and that no proper investigation had been conducted into the alleged irregularities. He accused Vilas Reddy of political vendetta, saying the move was intended to eliminate rivals after losing a previous election.
Established in 1980, the Karimnagar Cooperative Urban Bank has shown steady progress, with substantial deposit growth and profits from short-term loans. Following a court-ordered door-to-door survey in 2017, the number of eligible members was reduced from 19,286 to 9,287.
