Special package to repay depositors in Karuvannur bank: Vasavan
The Hindu
Properties of all accused in the scam to be confiscated
Minister for Cooperation V.N. Vasavan has informed the Assembly that a package is on the anvil to repay depositors of the Karuvannur Cooperative Bank in Thrissur which is being probed for a multi-crore loan scam. Replying to discussion on demands for grants in the revised Budget on Wednesday, Mr. Vasavan said that properties of all the accused involved in the scam would be confiscated. The administrative body of the bank had been directed to implement the special package for repayment of deposits in the bank. The package would be implemented with the help of Kerala Bank, he added. Assuring the House that the government would take stringent action against those involved in the irregularities, Mr. Vasavan said that the vigilance system in the cooperative sector would be strengthened by entrusting its charge to a police officer of the SP rank.
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