Thrissur, 01 September (H.S.): A family has launched a protest outside the Karuvannur Service Cooperative Bank after failing to recover its life savings, leaving the postgraduate education plans of its daughter, who recently completed her MBBS, in uncertainty.

Unnikrishnan, a resident of Madayikonam, and his family began the protest demanding the immediate return of nearly Rs 30 lakh deposited with the bank. The amount comprised retirement benefits received by Unnikrishnan and had been set aside primarily for his daughter Adithya’s education.

The bank is governed by an administrative committee led by the CPM. It has been embroiled in a major financial scandal that has left several depositors struggling to withdraw their money.

Adithya had secured A-plus grades in all subjects during her school education at Anandapuram Sreekrishna School and National Higher Secondary School in Irinjalakuda. She later completed her MBBS with an impressive academic record from the Vijayanagar Institute of Medical Sciences in Ballari, Karnataka.

She is now preparing for the medical postgraduate entrance examination and plans to attend a six-month coaching programme in Kozhikode. The family requires several lakh rupees to meet the coaching fees, hostel expenses and other related costs.

Anticipating these expenses, the family approached the bank in June and requested the release of Rs 10 lakh from its deposit. Bank authorities reportedly assured them that the amount would be paid within six months.

However, despite the assurance, the family received only Rs 10,000. With Adithya’s higher education plans at risk, the family said it was left with no option but to stage a protest outside the bank.

Unnikrishnan and his relatives said they would continue the agitation until their entire deposit was returned. The family’s plight has become the latest example of the hardship faced by ordinary depositors following the alleged financial irregularities at the Karuvannur bank.

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Hindusthan Samachar / Arun Lakshman