Even as Kerala’s cooperative banking sector is facing corruption charges, another cooperative bank in Idukki has collected deposits of over ₹2.8 crore within one day.
According to officials, Alakode Service Cooperative Bank, near Thodupuzha in Idukki, collected ₹2.8 crore as deposits through a cooperator investment campaign. On Thursday, nearly 100 people deposited money in the Alakode, Kalayanthani, Edavetty, and Inchiyani branches of the bank, said officials.
Traco Cable chairman Alex Kozhimala inaugurated the cooperator investment campaign on Thursday. Mr. Kozhimala said that there is a need to protect the State’s cooperative sector.
The success of the cooperator investment campaign shows that people still trust the cooperative sector, said Alakode Service Co-operative Bank president Thomas Kakkuzhi.
From thousand to lakhs of rupees were collected as deposits through the cooperator investment campaign, says officials.
In the second week of October, Thankamani cooperative bank near Cheruthoni in Idukki had collected ₹2.18 crore as deposits in a two-day long cooperator investment campaign.
