Guwahati: In a strong demonstration against alleged financial irregularities within the Assam Cooperative Apex Bank Ltd., Jatiya Yuva Sakti, the youth wing of the Assam Jatiya Parishad (AJP), staged a dharna in front of the bank’s headquarters at Panbazar in Guwahati on Tuesday (March 25).
The protest, led by General Secretary Chandrapal Baruah, Iftikar Hussain, Ankur Gogoi, Vice President Durlav Talukdar and spokesperson Ananya Saikia, witnessed participation from over a hundred youth workers demanding a high-level inquiry and strict action against those responsible for the alleged mismanagement.
The protestors accused the state government of turning a blind eye to the corruption within the bank, despite substantial evidence of financial misconduct.
Slogans were raised against the bank’s management, including its chairman Biswajit Phukan (MLA) and Managing Director Dombaru Saikia, who are accused of orchestrating financial misdeeds for personal gains.
According to a copy of a complaint dated January 30, 2025, circulated during the protest by the youth organization, sent to the Central Vigilance Commission, the bank has been functioning without a formal contract with any IT vendor since June 2024, despite the expiration of previous agreements.
This has led to concerns over operational stability and security risks for account holders.
Allegations also include a drastic and unjustified cost escalation of banking infrastructure contracts from Rs 28 crore in 2018 to nearly Rs 50 crore in 2025, with Rs 14 crore allegedly funneled to KPMG under questionable circumstances.
Further intensifying the matter, the Assam government’s Cooperation Department has taken cognizance of the allegations.
In an official communication dated March 3, 2025, the department directed the Registrar of Cooperative Societies, Assam, to investigate the claims and submit a report within 15 days.
This move, however, has failed to pacify the protestors, who argue that the government’s inaction so far suggests an attempt to shield those responsible.
Speaking at the protest, AJP youth leaders warned of larger agitations if immediate steps were not taken to hold the guilty accountable.
“The financial future of countless account holders is at stake, yet the government remains silent. We demand an impartial probe and strict punishment for those who have betrayed the public trust,” said Chandrapal Baruah, general secretary of the organization.
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The Assam Cooperative Apex Bank Ltd. is a key financial institution in the state, and the allegations have sparked widespread concern among account holders and citizens alike.
With political pressure mounting, all eyes are now on the government’s next move in addressing these serious allegations.
