Idukki (Kerala): A tragic incident occurred in Idukki, Kerala, where a man named Babu was found dead after reportedly taking his own life due to financial distress caused by the Kattapana Rural Development Cooperative Society. Babu, a trader, had deposited ₹25 lakh with the bank and sought to withdraw the money to cover his wife’s medical expenses, as she was unwell. However, the bank, facing financial difficulties, informed him that they could only return his deposit in monthly installments.
On Thursday, after being unable to withdraw any funds and feeling humiliated by the bank officials, Babu went missing. His body was discovered hanging near the cooperative bank the following morning. In a suicide note, he blamed the bank’s Secretary and two staff members for his decision.
The news of Babu’s death sparked protests outside the bank, with local Congress and BJP activists condemning the management’s handling of the situation and calling it corrupt. The Congress party demanded the presence of senior revenue officials to conduct an inquest before allowing the body to be moved. This incident highlights the growing concerns regarding the financial stability of cooperative banks in Kerala, where numerous complaints have emerged over the past two years. A significant scam involving over ₹100 crore was recently uncovered at the Karuvannur Cooperative Bank, leading to investigations involving prominent political figures.