Tarun Karthick
Sri Vijaya Puram, 11 November 2025
The Communist Party of India (Marxist) has urged the Lt. Governor of Andaman and Nicobar Islands to nominate senior and skilled officers from public sector banks because the Managing Director and General Manager of the Andaman and Nicobar State Cooperative Bank Ltd. for the subsequent two to 3 years, citing a extreme administration disaster and ongoing corruption investigations inside the establishment.
In a letter addressed to the Lt. Governor, Mr. D. Ayyappan, Secretary of the CPI (M) Andaman & Nicobar State Organising Committee, drew consideration to his earlier letters dated March 3 and May 26, 2025, highlighting irregularities within the functioning of the financial institution. He acknowledged that the A&N Police have registered felony instances towards the financial institution’s officers, Chairman, Vice Chairman, and a few members of the Board of Directors, together with sure businessmen, beneath fees of felony conspiracy, fraud, forgery, breach of belief, and corruption. The Enforcement Directorate can be reportedly probing the cash path of loans sanctioned to pretend corporations and shell firms.
Mr. Ayyappan famous that the Managing Director of the financial institution is at the moment in jail, whereas a number of prime officers are going through felony and disciplinary proceedings. He emphasised that the financial institution—one of many oldest monetary establishments within the Islands’ cooperative sector with round three lakh account holders, ₹1200 crore in annual enterprise, and over 300 workers—performs a significant function in offering social safety pensions to round 15,000 islanders.
The CPI (M) maintained that the financial institution have to be “saved at any cost” and that appointing certified public sector financial institution officers on the prime stage is crucial to revive confidence amongst prospects and guarantee easy functioning of the establishment.
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