Residents seek inquiry into Oottuvazhmadam Cooperative Society irregularities
Residents in Kanniyakumari have petitioned the District Collector to investigate alleged financial irregularities at the Oottuvazhmadam Primary Agricultural Cooperative Society. The petitioners claim that members are being denied loan waivers and are unable to withdraw their savings due to mismanagement.
Why it matters
Financial mismanagement in cooperative societies directly impacts the savings and credit access of rural residents, necessitating government oversight.
A petition seeking an inquiry into alleged irregularities in the Primary Agricultural Cooperative Society at Oottuvazhmadam and restoration of services under the society was submitted at the weekly grievance redress meeting held at Kanniyakumari District collectorate on Monday.
The petition was submitted at the weekly grievance redress meeting chaired by Kanniyakumari District Collector M. Prathap.
Residents, led by CPIML, submitted the petition stating that the society established in 1960, has around 7,000 members and had played a significant role in supporting local residents through various lona schemes. Many members have also deposited their savings with the society over the years.
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