Tarun Karthick
Sri Vijaya Puram, 4 June 2025
The Centre of Indian Trade Unions (CITU) has urged the Andaman and Nicobar Administration to instantly supersede the Board of Directors of the Andaman and Nicobar State Cooperative Bank Ltd. and switch the continued investigation by Andaman and Nicobar Police to central companies together with the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), and Income Tax Department.
In a letter addressed to the Chief Secretary of the Andaman and Nicobar Islands, B. Chandrachoodan, General Secretary of CITU (A&N), alleged that corruption, nepotism, and mismanagement inside the financial institution had severely undermined public confidence. He demanded the speedy arrest of all these concerned, together with the Chairman, Board Members, and senior officers of the Bank.
Chandrachoodan highlighted that the A&N Police have already registered a case towards the Bank’s prime officers, following which in depth raids have been carried out over the previous 20 days on the Bank’s headquarters and the residences of a number of people, together with businessmen who have been allegedly granted giant loans.
He famous with concern that regardless of the dimensions of the investigation, neither the Police nor the Cooperative Department has issued any public assertion, whereas some mainland media retailers have reported on parts of the case. According to CITU, this lack of transparency has led to panic amongst depositors, prompting a wave of withdrawals from the Bank.
CITU additionally expressed concern for the job safety of roughly 300 workers, together with managers, at present working with the Bank. Chandrachoodan confused that the Bank should proceed to operate to guard livelihoods.
Calling for decisive administrative intervention, CITU insisted that superseding the Board and initiating a central agency-led investigation wouldn’t solely restore religion amongst depositors and workers but in addition shield ongoing centrally-sponsored schemes being applied by the Bank, akin to these supported by NABARD and HUDCO. The organisation additionally identified that the Bank is a key channel for disbursing social safety pensions and EPF pensions to 1000’s throughout the islands, making its steady operation essential.
CITU concluded its enchantment by stating {that a} robust message of accountability and transparency is required to reassure the general public that the Bank’s future operations will likely be carried out in a good and accountable method. (Story Based on PR from CITU)
