Chief Minister Pinarayi Vijayan's remark that certain things that should not happen are happening in the cooperative sector should be seen as a mirror to the truth. Massive irregularities and frauds that took place in some cooperatives in the state in the recent past have affected the credibility of the cooperative movement. Needless to say, the consequences of such institutions betraying the trust of their members and investors.

Several cooperative societies, including Karuvannur, are facing legal action today on account of deposit scams. If the authorities had discovered these frauds quicker and taken appropriate action, many regrettable events might have been prevented. Not only the employees but also the governing body and the political parties are behind this fraud. Minister for Cooperation VN Vasavan said that it cannot be believed that the corruption took place in Karuvannur without the knowledge of the cooperation officials. If the officials responsible for preventing corruption and fraud had honestly intervened, the culprits could have been caught much earlier and depositors wouldn't have lost their money.

An elderly man, who had deposited Rs 75 lakh in the Karuvannur bank, was recently in the news after he approached the court with a request seeking a nod for euthanasia. It was the uncertainty of getting the deposit back that brought this old man to the court with such a plea. Common people who deposit money in cooperative societies for various needs face a lot of trouble if they do not get the money back at the right time. Some had even committed suicide as they did not know what to do in such a situation.

The minister himself said that the fraud in Karuvannur Bank started from 2011 onwards. A question naturally arises as to why no one was able to stop it for so long. It has been proved that members of the governing bodies, with the connivance of the employees, had swindled crores by giving fake membership to their relatives, close ones and politicians and by pledging the same property in the name of various people. Several cooperative bank scams were discovered following the Karuvannur fraud. It is the top brass of the ruling party who led the corruption and irregularities in the Kandala Cooperative Bank in Thiruvananthapuram.

The rule is that the loan information of the bank's board members and their relatives should be submitted in the general meeting. None of this is followed anywhere. Auditing in cooperative societies is also carried out just for namesake. While those directly involved in the frauds are caught, the officials who helped them often manage to escape. Cases are moving at a snail's pace. It has been discovered that fraud of more than two hundred crores of rupees has taken place in the cooperative society of BSNL employees in Thiruvananthapuram.

There is a need for strong action against the irregularities occurring in the cooperative sector. Cooperative societies play an important role in the daily lives of common people. It is the need of the state that these societies remain vibrant without breaking down. The Chief Minister observed that the boundless craving for money of some people is causing the problems of the cooperative societies. The question is why such people are still allowed to remain in the cooperative sector.