Home Loan Scams Karuvannur bank scam: Kerala govt promises to return deposits; ED conducts raids
Kochi/Thrissur: The Kerala government on Wednesday assured the high court that it will compensate all the depositors who have lost their savings in the Karuvannur Cooperative Bank scam.
The state government told the high court that it will avail of loans from various sources, including the Kerala Bank, to repay the depositors.
A high power committee led by Cooperative Minister V N Vasavan had discussed ways to find a solution to the crisis. At the meeting, it was decided to reinstate the facilities for repayment and pay back full amount due to the depositors, the government said.
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