THIRUVANANTHAPURAM: Amidst several controversies surrounding the Karuvannur Cooperative bank scam, the CPI(M) has come up a new tactic aimed at addressing the scandal’s fallout. According to reliable sources, it has been reported that Rs 50 crore will be transferred from Kerala Bank to Karuvannur as a temporary solution to resolve the crisis.
It has also been reported that this substantial sum will be transferred within three days, with the amount disbursed by Kerala Bank to be subsequently collected from the consortium. In this regard, the Kerala Bank Board is scheduled to convene a meeting today at 11 am to deliberate on this matter. The final decision will be made based on the outcome of the meeting.
Furthermore, it is noteworthy that the transfer of this significant amount from Kerala Bank will commence only after a meeting between Chief Minister Pinarayi Vijayan and Kerala Bank Vice-Chairman MK Kannan.
Yesterday, MK Kannan appeared before the Enforcement Directorate (ED) for questioning. However, the ED has asserted that Kannan did not cooperate with the questioning, citing health concerns.
Later talking with the media, Kannan claimed that he was being targeted by the ED and said that he was in good health. He also stated that he had full support from his party.
MK Kannan claimed that Rs 30 crore have been allocated to address the crisis in Karuvannur, and an additional Rs 40 crore are required to overcome the situation. Kannan also claimed that Karuvannur bank had meanwhile repaid some investors and distributed Rs 84 crore.
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