Strong protests erupt over loan repayment from relief funds in Kerala Gramin Bank

KALPATTA: Intense protests have erupted over the controversial incident where loan repayments were reportedly made from the relief funds meant for distressed people at Kerala Gramin Bank. The Youth Congress, Youth League and DYFI have taken to the streets, demanding immediate action. Clarification is awaited on how many EMIs were deducted.

As the protests gained momentum, reports indicate that an agreement has been reached between the protesters and Kerala Gramina Bank. It is understood that both the bank employees and the protesters will jointly review the transactions involved.

The protesters are insisting that all affected individuals who had EMIs deducted this month should be fully refunded. The youth organizations have vowed to continue their protest until the funds are returned.

Minister M B Rajesh condemned the bank's actions, calling them inhumane and stated that the protests were a natural response to such an issue. Meanwhile, a decision on loan waivers for those in distress is expected today, as the Bankers’ Committee meeting is currently underway.

During the meeting, Chief Minister Pinarayi Vijayan demanded that the loans of the affected individuals be written off. He urged all banks to follow the Kerala Bank model, emphasizing that banks should utilize only affordable funds. The Chief Minister also criticized Kerala Gramin Bank's actions in this matter.