Communists have mastered the exploitation of the cooperative banking system in Kerala. In a fresh case, a scam of Rs 75 lakh has emerged in the Adoor Service Cooperative Bank in Pathanamthitta district. The bank president, Ponthamara Pillai, who is also a leader of the All India Democratic Women’s Association, the women’s wing of CPM, resigned from the position on March 23.
She has resigned as a non-confidence motion had been scheduled for March 24. Immediately, after the resignation, she informed the Cooperative Assistant Registrar.
Ponthamara Pillai is wife of R. Unnikrishnan, former CPM state committee member and former Adoor MLA. The bank board of directors is manned by CPM people alone.
CPM Adoor Area Committee Member P. Raveendran was the president of the bank for several years together.
Ponthamara Pillai took over the Presidency in November 2024. Cooperative department had carried out the investigation. It has reportedly found that the anomalies and improprieties took place during the regime of P. Raveendran and they had happened with the help of the secretary.
Ponthamara Pillai said that she did not get the files she had asked for. She had complained to the Cooperative Joint Registrar, but, it fell on deaf ears.
She said, she took over as the president when the bank was running at a loss and tried to save the bank by collecting the arrears and increasing the deposits.
Pillai alleged that the former president had transferred banks’ deposit to another bank in Adoor and favours were facilitated for the family members.
Pillai said that she had informed the CPM leaders about the anomalies in the bank; but, no investigation was initiated.
It is alleged that she suffered heavy pressure as she did not extend a helping hand to practise corruption of Communists. Pillai defended her decision, stating that she did not resign earlier as she wanted to prove the anomalies.
It was Ponthamara’s husband Unnikrishnan Pillai who brought her to the press club for meeting the media. In December 2025, she contested in the Adoor Municipality elections but finished in third position.
The Adoor bank scam underlines that cooperative bank scams, especially in CPM-controlled banks in Kerala, appear to be a never-ending story. The Rs 263 crore CPM-controlled Karuvannoor Cooperative Bank scam remains a nightmare for the people of Kerala.
