Minister for Cooperation V.N. Vasavan said on Wednesday that the Karuvannur Service Cooperative Bank in Thrissur district has so far returned ₹103 crore to its depositors. Some of the depositors who got back their money have also deposited a part of the amount in the bank, a sign that it is regaining their trust, Mr. Vasavan said at a press conference here.
“For example, people who received ₹1 lakh have re-deposited ₹10,000 and ₹25,000 in the bank. This is a good sign,” he said. The Karuvannur Service Cooperative Bank had hogged headlines for all the wrong reasons following a multi-crore loan scam. “The process of returning all the smaller deposits, up to ₹1 lakh, is in progress. We are verifying it on a daily basis,’‘ he said. In the case of bigger deposits, the money and interest and being returned on the basis of court directives, he said.
