Is there double justice in confiscation?

Certain cooperative institutions in the state have recently been garnering public attention for two major reasons. Firstly, incidents of systematically misappropriating depositors' money and jeopardizing the very existence of these institutions are on the rise. Secondly, many borrowers, unable to repay their loans, are facing dire situations, leading to property confiscations or even, tragically, suicides. Malayalees, by nature, are generally honest and have a strong sense of responsibility to repay borrowed money at any cost. However, there are many who are unable to do so due to the pressures of their circumstances. Most of these individuals belong to the economically disadvantaged sections of society. Unfortunately, laws and regulations often act as shackles, tightening their grip on such individuals.

A tragic incident of this nature occurred just two days ago for a poor family in Nedumangad. Y Prabhakumari and her family, residents of Kanyakulangara, were evicted from their house at night in the name of confiscation after failing to repay a loan of Rs 1.5 lakh taken from the Nedumangad Urban Cooperative Bank. Learning of the family’s helplessness, the police arrived around midnight and relocated them to a nearby house. Until then, the family, including an elderly mother and a husband recovering from a leg injury after a fall, were left stranded outside the locked and sealed house. It was only after the intervention of Food Minister GR Anil that the family was allowed back into the house. No one would disagree with the minister’s statement that the bank’s actions were inhumane.

Prabhakumari and her husband Sajimon were reportedly made to sit at the bank the entire day, and the confiscation proceedings were completed in the evening without their knowledge. When they returned home that evening, they discovered that the house had been seized by the bank. Are the bank authorities so heartless as to evict even an elderly mother and others without informing the family? The government has explicitly stated that no family in the state should be evicted in the name of loan recovery, and this stance has been reaffirmed in the state assembly as well. There is speculation that the aggressive action of the Nedumangad Urban Bank could be attributed to it being under Congress leadership. Congress leaders would have immediately rushed to the scene if such a confiscation had been carried out by a cooperative bank controlled by the ruling front. The public is curious to know what they have to say about this eviction in Nedumangad.

Both the ruling and opposition fronts seem to be equally competing to undermine the cooperative movement by systematically misappropriating depositors' money and eroding public trust. Adding to this is the heartless practice of seizing homes for small loan defaults. Reports of governing committees and employees colluding to defraud depositors and embezzle crores of rupees have emerged from several banks. While such large-scale loot occurs on one side, on the other, innocent borrowers are being reduced to destitution under the pretext of loan recovery. It is nothing short of a tragic irony.