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.
Explaining the political cooperation enjoyed by the State in protecting and promoting the cooperative sector, Mr. Vijayan said its benefits were directly visible in villages in the form of affordable loan schemes and other financial services.
The event, presided over by Deputy Mayor C.P. Musafar Ahamed, also witnessed the launch of fresh savings schemes and projects. Consumerfed chairman M. Mehaboob was presented with the M. Baskaran Memorial Award for his contributions to the cooperative sector.
The bank staff also exchanged their letter of consent for organ donation with the medical college authorities at the function. Minister Ahammad Devarkovil, Mayor Beena Philip, Calicut Town Service Cooperative bank chairman T.V. Nirmalan, Thottathil Raveendran, MLA, and N. Ashokan, Principal, Kozhikode Medical College, were present at the function.
