In a surprise move, BRS senior leader K Ravinder Rao resigned from the post of Telangana State Cooperative Apex Bank (TSCAB) chairman on Friday. The ruling Congress had urged him to join the party and stay in his position, but Rao declined and stepped down.
Rao explained to the media that he felt unable to continue in his role because some members of the state co-operative society had recently switched to the Congress party. He believed that he could no longer effectively serve as chairman under these circumstances.
The State cooperative bank was established in 2015, but Rao noted that directors within the bank had changed allegiances. He announced his resignation along with that of Mahender Reddy, the vice-chairman. Rao highlighted the progress made in strengthening the cooperative system in Telangana over the past nine years, with recognition from NITI Aayog and various awards received by TSCAB.
He expressed hope that the Congress government would implement positive policies moving forward. Rao clarified that retired officers were not placed in the cooperative system under his leadership, and he denied giving positions to any family members. He distanced himself from any wrongdoing by society employees or the Vani Bala issue, emphasizing that these matters were unrelated to the bank.
