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To tide over crisis, Karuvannur bank campaigns to draw 1k new investors
The New Indian Express Thrissur
|March 30, 2025
WHILE the investors of Karuvannur Service Cooperative Bank are waiting to get their money back, the newly appointed administrative committee of the bank has taken up the arduous task of attracting 1,000 new investors by March 31.
Hit by over Rs 100 crore scam perpetrated by a caucus including director board members, the CPM-led Karuvannur Bank was on the verge of bankruptcy as the authorities could not return the investors' money. Several protests were held as investors couldn't get back their deposits for basic needs like medical treatment, education and marriage purposes. It was after the High Court issued an order that the bank started disbursing interim funds to the depositor
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