Kerala- Alappuzha: Opposition leader Ramesh Chennithala said that the UDF will wind up Kerala Bank if voted to power. The Congress leader was addressing the media on the sidelines of ‘Aishwarya Kerala Yathra’ here on Tuesday.

“Kerala Bank was formed illegally. It will lead to the collapse of co-operative organisations. UDF will dismantle Kerala Bank if voted to power. Kerala Bank completely defeats the purposes of co-operative organisations,” said Ramesh Chennithala.

The Pinarayi Vijayan-led Left government had made it very clear right from the time they assumed office in 2016 that the Kerala Bank would be formed by merging 14 district cooperative banks with the Kerala State Cooperative Bank (KSCB) and it would be named as Kerala Bank.

Earlier, the Cooperative Banks in the state had a three-tier structure with the primary banks at the grassroots level which were attached to the respective district banks and the apex body was the KSCB. This changed after Vijayan launched the Kerala Bank.

Speaking to the media at his hometown in Alappuzha as part of his statewide yatra, Chennithala said the present Kerala Bank was an illegal entity and even the Reserve Bank of India had made its position clear on it.

"The once fledgling Cooperative banking sector in the state has been destroyed in the name of the Kerala Bank. If we return to power, the Kerala Bank will be wound up," said Chennithala.

Kamal Nath statement on deaths due to liquor: 'Shivraj Ji how long will the liquor mafia...'

UP: PM Modi lays foundation stone of King Suheldev's statue in Bahraich

Puducherry Congress MLA John Kumar quits from party