Chief Minister Pinarayi Vijayan has said that there is no need for concern regarding potential financial loss in the cooperative sector as the State government stands as guarantee for the security of investments in the sector.
His statement comes in the wake of Leader of the Opposition V.D. Satheesan accusing the Communist Party of India (Marxist) [CPI(M)] and the State government of protecting those responsible for financial irregularities in cooperative banks in Thrissur. Mr. Satheesan also said that the CPI(M) leadership had complete knowledge of the irregularities in the banks.
Mr. Vijayan, speaking after inaugurating the CPI(M) Mavilayi East Local Committee office here on Sunday, highlighted the faith the public had in the cooperative sector.
