Ouster of co-op bank board sparks political row in Pathanamthitta
The dissolution of the Tiruvalla East Cooperative Bank's governing body by the Kerala government has triggered a political dispute. The ousted board claims the action is biased and lacks legal standing, citing RBI jurisdiction.
Why it matters
The conflict highlights a jurisdictional power struggle between state cooperative authorities and the Reserve Bank of India regarding the regulation of urban cooperative banks.
The dissolution of the Left-backed governing body of the Tiruvalla East Cooperative Bank by the district Joint Registrar of Cooperative Societies has kicked up a political storm in Pathanamthitta, with the ousted board crying foul and threatening legal action.
The article presents both the government's justification for the dissolution and the board's counter-arguments, maintaining a balanced reporting style.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in