UDF divided on co-operative banking issue

Bringing differences of opinion among leaders to surface, a meeting of United Democratic Front (UDF) leaders that met here on Monday failed to come to a consensus on whether to support the Left Democratic Front (LDF) government stance on Co-operative banking sector issue. 

Speaking to presspersons after the meeting, leader of opposition Ramesh Chennithala said the UDF and its allies would support the state government on the issue and an all-party delegation that would leave for Delhi would meet Reserve Bank officials to discuss the matter. 

Meanwhile, the Kerala Pradesh Congress Committee president V M Sudheeran had a different view and said the UDF would not support the government's protest against the the Reserve Bank's decision not to permit co operative banks to participate in exchange of demonetised currency notes.

Last week the ruling LDF had launched a day-long mass agitation in the capital on 18 November alleging that the Co-operative banking sector in Kerala had come to a standstill as these banks cannot exchange old notes to the customers.

 Chief Minister alleged that the move has hit several people, including farmers, retired government officers, who depend entirely on Co-operative banks. 

Co-operative banks are considered the backbone of rural Kerala as they provide credit for farmers and housewives. 

• Kerala
• United Democratic Front
• Left Democratic Front
• Co operative banks