Cooperative banks should not attach houses while making revenue recovery: CM

Cooperative banks should desist from attaching houses submitted as collateral while making revenue recovery under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, Chief Minister Pinarayi Vijayan has said.

Intervening during the Question Hour in the Assembly on Monday, he said that having a roof over the head was a basic right, and cooperative banks should not take any step to evict people from their homes.

Mr. Vijayan said that the cooperative sector should be a model for other banks in this.

Minister for Cooperatives V.N. Vasavan said that banks should not put up boards on the property being attached under the SARFAESI Act. The Kerala Bank did not put up any such boards, he said.