A crisis is unfolding in Kerala’s cooperative banking sector following the tragic suicide of Sabu, a 53-year-old investor in the Kattappana Rural Development Cooperative Society in Idukki.
Sabu, who had deposited Rs 35 lakh, was able to recover only Rs 14 lakh, despite repeated pleas for the remaining funds to cover his wife’s medical expenses.
On 20 December, after yet another refusal by the bank, he ended his life outside its premises.
The incident sparked widespread protests by political parties and local groups, demanding accountability. This tragedy highlights growing concerns over fraud in Kerala’s cooperative banks, including the infamous Rs 300-crore Karuvannur scam.
