Karuvannur bank scam: ED indicts ruling CPI (M) as accused

The scam has raised serious concerns about the integrity and regulatory oversight within Kerala’s cooperative banking sector.

BySouth First Desk

Published Jun 29, 2024 | 8:00 PMUpdatedJun 29, 2024 | 8:00 PM


The Enforcement Directorate (ED) is said to have arraigned the ruling CPI (M) as one of the accused in the multi-crore Karuvannur bank scam. According to the agency, which has been investigating allegations of a multi-crore loan scam at the Karuvannur Service Cooperative Bank in Thrissur, the party had also allegedly siphoned off illegal loans worth crores.

Read the full story here.