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.