A potent political battlefront is shaping up over the alleged corruption in Kerala’s mammoth cooperative banking sector.
Recurrent reports of ordinary families hard-pressed to meet life’s exigencies as they are unable to draw on their savings deposited in “corruption-ridden and bankrupt” cooperative banks administered by the ruling Left Democratic Front (LDF) have incrementally cast the government under a harsh spotlight.
Enforcement Directorate (ED) probes against Communist Party of India (Marxist) [CPI(M)] leaders accused of using party-controlled cooperative banks as a front for money laundering have also not helped the LDF’s public image.
