CPI(M) asks leaders in Keralam’s Kottayam to clear cooperative bank loan dues
The CPI(M) district committee in Kottayam has ordered party leaders to immediately repay loans taken from cooperative banks. This directive follows internal criticism that financial mismanagement by party officials contributed to recent electoral defeats and public distrust.
Why it matters
It highlights internal accountability measures within a major political party facing public backlash over the financial stability of cooperative institutions.
An extended district committee meeting of the Communist Party of India (Marxist) [CPI(M)], which concluded in Pala on Saturday, directed party leaders who have availed themselves of loans from cooperative banks to clear their dues immediately, warning of strict disciplinary action against those who default on repayments.
According to district secretary T.R. Raghunath, two district secretariat members and five district committee members have availed themselves of substantial loans from cooperative banks. The directive is part of a course correction being initiated within the party, with disciplinary action to be taken against leaders who fail to comply.
The decision followed strong criticism at the two-day meeting, where delegates called for greater scrutiny of the financial dealings of party office-bearers. Several leaders also came under criticism for their handling of cooperative banks, with delegates attributing the party’s heavy defeat in the district to the attitude and interventions of its leaders.
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