THRISSUR: In the package of 50 crores announced by the government for the rehabilitation of the Karuvannur Co-operative Bank, where an investment fraud of Rs.300 crores was committed, only Rs 2 crore has been received. That amount, on the other hand, is the reserve deposited by the Karuvannur Bank in the State Co-operative Bank (Kerala Bank).

With this, the package announced a year ago became a waste. It was announced that Rs 19.5 crores out of 50 crores will be given to needy people who ask for a refund.

The order also said that the remaining 30.5 crores will be used to start the business by providing loans. All those who were hoping to be reimbursed at least for the hospital expenses were disappointed.

It was said that Kerala Bank will take the initiative to raise funds. However, the matter did not move forward due to technical snags.

Two people committed suicide after not getting their deposits back and an old woman died while undergoing treatment. As those who did not get the money approached the High Court, court criteria had to be followed for returning the deposit. This amount will be given according to seniority. Now the return is only ten percent of the investment and fifty percent of the interest.

Anticipated Fundraising (Amount in Crores)

Cooperative Development Board.......... 10
District Cooperative Banks................... 20
Karuvannur Bank Reserve Fund........... 2
Collection of loan dues................................ 3
Kerala Bank................................................... ....15