It may sound strange but is true that a political party controlled cooperative bank is soon likely to take over two schools in Kannur in Kerala.
The CPM controlled Chirakkal Service cooperative bank has decided to develop Chirakkal Rajas Higher Secondary and Rajas Upper Primary School as leading educational institutions in the state.
Sources say this is the first time in the state that a cooperative bank is getting directly involved in the management of schools. The cooperative bank has spent Rs 12 crore on buying the schools.
Earlier a Congress trust wanted to clinch a deal with the family that controlled these institutions but this did not work out. However, the CPM’s cooperative society’s success is being seen as the leftists’ political masterstroke.
Treading the path of the principles and philosophies of cooperation, the coop movement of Kerala, particularly the grass root level Service coop banks, is an inspiration to all and a worthy model to be emulated by all the other states. Their concern, not only for their members, but for the entire community places them on a high moral pedestal.
“Sources say this is the first time in the state that a cooperative bank is getting directly involved in the management of schools” This is a wrong statement. The 94 year old Madappally Service Co-operative Bank ltd, in Kottayam district is managing the Madappally C S U P School from 1951 onwards. – satheesan.v