Kerala: Pullad Bank refuses to repay money to woman amounting to Rs 20 lakhs; Read
Vatsala, a hardworking labourer, has deposited her earnings at the Pullad Service Co-operative Bank, Thiruvalla for the past few years. Vatsala also complained that the bank is opened occasionally, and she is worried about the money she has invested in that bank.
Pathanamthitta: Vatsala, a hardworking labourer, has deposited her earnings at the Pullad Service Co-operative Bank, Thiruvalla for the past few years. However, Vatsala and people in Pullad and neighbouring areas are facing a concerning situation these days. The bank has reportedly failed to return their deposited money, causing anxiety among the account holders. Vatsala also complained that the bank is opened occasionally, and she is worried about the money she has invested in that bank.
She deposited the money by working as a labourer in the nearby areas of Pullad. She deposited the money for various reasons, such as a home loan, treatment, her son's marriage, and so on. Since 1998, large and small amounts have been deposited in the bank. Vatsala said that she is tired of going to the bank and asking for this money for the past five years.
Vatsala stated that "I earned this money by doing hard work under the scorching sun. When I requested my money, the bank secretary dismissed my pleas by saying, "Why are you dying?". Our problems have become a headache for them. They are doing this because we are poor."
With accumulated interest, Vatsala's family is entitled to a substantial amount exceeding Rs 20 lakh rupees. Their home was destroyed by a fallen tree, forcing them to live in a small shed. Despite multiple complaints, including those to the Cooperation Minister, there has been no resolution. The bank secretary responsible for the irregularities is suspended, and the bank has been operating without a governing body for four years. With over Rs 1 crore rupees in liabilities due to mismanagement, the bank is currently under administrative control.