Anxious 73-yr-old commits suicide over Rs 5 lakh in co-op bank in Kerala | india-news | Hindustan Times
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Anxious 73-yr-old commits suicide over Rs 5 lakh in co-op bank in Kerala

Pillai was allegedly distressed after wide propaganda in the area that the money deposited in cooperative banks was not safe in the wake of the government’s demonetisation drive.

india Updated: Nov 22, 2016 01:44 IST
PTI
Senior citizens in a queue at a bank to exchange old notes at SBI bank in Hyderabad on Saturday.
Senior citizens in a queue at a bank to exchange old notes at SBI bank in Hyderabad on Saturday.(PTI Photo)

A septuagenarian on Monday allegedly committed suicide as he was anxious about the fate of his hard earned money in a service cooperative bank near Erumely in the district.

Police said Pambavali Theruvanparambil Omanakkuttan Pillai (73) was found hanging in his house Monday afternoon.

They said Pillai had Rs five lakh in the Kanamala Service Cooperative Bank.

He was allegedly distressed after wide propaganda in the area that the money deposited in cooperative banks was not safe in the wake of the government’s demonetisation drive. This was reportedly the reason why he took the extreme step, police said.

Read| Can Kerala’s co-operative banking system survive the demonetisation crisis?