Chief Minister Pinarayi Vijayan on Saturday said attempts to destroy the cooperative sector in Kerala, which set a model for the rest of the country in mobilising big investments through small contributions despite the threats of globalisation, would be fought collectively with mass support.
Opening the valedictory session of the silver jubilee celebrations of the Calicut Town Service Cooperative Bank here, the Chief Minister pointed out that it was the wholehearted cooperation of investors that helped the cooperative sector mobilise investments worth ₹2.5 lakh crore.
“The popularisation of various banking services in villages was actually done by cooperative banks in our State as commercial banks made their entry at a very later stage of development. It cannot be destroyed easily,” said Mr. Vijayan. He also made it clear that the State government would be in the forefront of its citizens’ fight for safeguarding the sector.
