Thiruvananthapuram: Cooperation Minister Kadakampally Surendran on Thursday said that the raids conducted by the Enforcement Directorate (ED) and The Central Bureau of Investigation (CBI) at the district cooperative banks in the State were not in good intention.
“There is a mysterious motive behind the raids. That was a continuation of the efforts by certain quarters to destroy the cooperation sector. But the government welcome all kinds of inspections. We are not scared of any investigations,” Surendran said.
The minister added that a proper investigation would help clear the air about the functioning of the cooperative banks.
The ED had on Wednesday conducted inspections in the state cooperative banks of Kannur, Kozhikode and Thrissur. The CBI also conducted inspection in Kollam and Malappuram districts.
As per reports, the officials examined the documents of huge deposits after November 8 to 14, fake accounts and hawala deposits.