States » SouthPosted at: Oct 26 2026 7:12AM


Kerala clears cooperative society's plan to launch flight services: CM assures deposit protection

Kozhikode, Oct 26 (UNI) The Kerala Government has granted permission to the Kerala Civil Aviation Development Cooperative Society to launch flight services.
Assuring protection for deposits in the cooperative sector, Chief Minister V.D. Satheesan has said the government would provide a guarantee to depositors, who deserved the same sense of security as those investing in nationalised and scheduled banks.
Inaugurating the silver jubilee celebrations of the Calicut City Service Cooperative Society, Satheesan said cooperative institutions played a vital role in strengthening both rural and urban economies. Their growing involvement in diverse development activities reflected the expanding role of the cooperative movement, he added.
Praising the society for its charitable initiatives and development-oriented activities, the Chief Minister said the government had ensured that money reached ordinary people and the poor during the last Onam season. The resulting increase in consumer spending had helped circulate money in the market and boost economic activity, he said.
Satheesan also said the state had recorded its highest-ever monthly revenue since the introduction of the Goods and Services Tax (GST) during the previous month.
The Chief Minister issued a stern warning against corruption in cooperative institutions, saying the government would not tolerate the misuse of public deposits. Those who misappropriated the hard-earned money of ordinary people should be sent to jail, he said.
UNI DS
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