CM Satheesan Says State Will Guarantee Cooperative Deposits
Kozhikode: Kerala Chief Minister VD Satheesan has said the state government will guarantee deposits made by people in the cooperative sector. Speaking on Sunday at the silver jubilee celebrations of the Calicut City Service Cooperative Society, he also announced that the government has permitted the Kerala Civil Aviation Development Cooperative Society to launch flight services.
Satheesan said depositors in cooperative banks should have the same confidence that people place in nationalised and scheduled banks. He stressed that public trust in cooperative institutions must be protected through firm assurances from the government.
He lauded the Calicut City Service Cooperative Society for its charitable activities and development initiatives. The Chief Minister observed that cooperative movements are central to both rural and urban economies, and that cooperatives entering development projects reflect the growth of the sector.
Highlighting the government's economic steps, Satheesan said that during the previous Onam season, cash support was delivered to common people and the poor. Increased spending by ordinary households, he said, brought more money into the market and strengthened the economy. He also claimed that last month the government received the highest revenue since the GST regime came into force.
The Chief Minister issued a stern warning that corruption in cooperative societies would not be tolerated. He said anyone who embezzles the money of ordinary people should be in jail.
MLA Advocate Faisal Babu chaired the event. Premaa Manoj, president of the Calicut City Service Cooperative Society, presented a shawl to the Chief Minister as a mark of respect.
At the function, Registrar of Cooperative Societies Anu S. Nair distributed electric wheelchairs to persons with disabilities. Several dignitaries shared their views, including MP MK Raghavan, MLA Fathima Thahiliya, Advocates K. Praveen Kumar and K. Jayanth, councillor KP Anilkumar, Waqf Board chairman MC Mayan Haji, P. Balagangadharan, K. Srinivasan and CN Vijayakrishnan.