Kerala CM assures safety of investments in state's cooperative sector

Kochi, Nov 14 (PTI) Kerala Chief Minister Pinarayi Vijayan assured on Thursday that no one would lose their investment in the state's cooperative sector, emphasising that the sector is robust, with investments amounting to Rs 2 lakh crore.

"Only Kerala's cooperative sector could make such a claim in the country," he said while delivering the inaugural address at Co-operative Week celebrations here.

He assured that no investor would lose even a single paisa that they have deposited in the cooperative sector, as no such incident has occurred so far.

Referring to the recent allegations of corruption in the cooperative sector, Vijayan said that any irregularities would be thoroughly addressed.

"A negative reputation that we do not deserve has been created by a few individuals and certain institutions," he added.

Following this there is a deliberate effort to tarnish the image of the state's cooperative sector with the sole intention of undermining its economic strength, the Chief Minister alleged.

In addition to the credit segment, the consumer, dairy, industrial, and hospital segments under the cooperatives are also making significant contributions to the state's development, he stated. PTI ARM ADB ARM ADB