Man Ends Life After Bank Denies Money Withdrawal for Wife’s Treatment in Kattappana
Kattappana witnessed a tragic incident on Friday as a man died by suicide after allegedly being denied access to his own savings by a cooperative bank. The deceased, identified as Sabu Mulangassery, was found hanging on the staircase in front of the Rural Development Cooperative Society in Kattappana. Please note that the working of Co-operative Bank is different from other Banks.
A cooperative bank is a financial institution that is owned, controlled, and operated by its members, who are typically individuals, small businesses, or organizations. These banks operate on a cooperative model, where profits are distributed among members or reinvested for the benefit of the community. They are governed by democratic principles, often following the motto: “One member, one vote.”
Suicide Note Alleges Mistreatment
In a suicide note recovered at the scene, Sabu accused the bank officials of refusing to let him withdraw money and mistreating him during his visit. Sabu had approached the bank on Thursday to withdraw ₹25 lakh from his account, intending to use the funds for his wife’s medical treatment.
Sabu, a resident of Kattappana, had deposited ₹50 lakh—his life savings—into the cooperative bank. He had previously withdrawn funds for his wife’s ongoing medical care and other family expenses without issue. However, on this occasion, the bank officials reportedly denied his request, citing insufficient funds.
Accusations Against Bank Officials
The suicide note specifically named the bank secretary, Reji, and two staff members, accusing them of ill-treatment when Sabu demanded his money. Sabu concluded the note by expressing his despair, stating that he was taking his life to ensure no other depositor would face a similar ordeal.
Political Protests Erupt
The incident has sparked outrage, with both the Congress and BJP staging protests against the CPM-led cooperative bank. Protesters have criticized the bank’s alleged mismanagement and demanded justice for Sabu and his family.
The tragedy has raised serious concerns about the functioning of cooperative banks, especially regarding the availability of funds for depositors in need. Local authorities are investigating the matter, and further actions are expected in the coming days.
This incident has brought to light the importance of ensuring accountability and transparency in cooperative banking systems to prevent such heartbreaking events in the future.
