The youth wing of the Assam Jatiya Parishad (AJP), Jatiya Yuva Sakti, staged a massive protest outside the Assam Cooperative Apex Bank headquarters in Panbazar, alleging large-scale financial irregularities.
Led by General Secretary Chandrapal Baruah, Iftikar Hussain, Ankur Gogoi, Vice President Durlav Talukdar, and spokesperson Ananya Saikia, the demonstrators demanded a high-level inquiry and strict action against those responsible.
Protestors accused the state government of ignoring corruption within the bank, despite mounting evidence of financial misconduct. Slogans were raised against bank Chairman and MLA Biswajit Phukan and Managing Director Dombaru Saikia, alleging their involvement in financial misdeeds.
A complaint dated January 30, 2025, addressed to the Central Vigilance Commission and circulated during the protest, highlighted key concerns. It revealed that the bank had been operating without a formal IT vendor contract since June 2024, raising operational security risks.
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Additionally, allegations pointed to an unjustified escalation of banking infrastructure costs from ₹28 crores in 2018 to nearly ₹50 crores in 2025, with ₹14 crores allegedly funnelled to KPMG under suspicious circumstances.
Following these allegations, the Assam government’s Cooperation Department ordered an investigation on March 3, 2025, directing the Registrar of Cooperative Societies to submit a report within 15 days. However, AJP’s youth leaders criticized the government’s delayed response and warned of larger agitations if swift action was not taken.
“The financial security of account holders is at stake, yet the government remains silent. We demand an impartial probe and punishment for those responsible,” said Chandrapal Baruah.
As the controversy unfolds, growing political pressure has put the government under scrutiny to address the serious allegations against the state’s premier cooperative bank.
