Mon Feb 10 14:21:10 UTC 2025: ## Kerala CM Bans Cooperative Banks From Foreclosing Homes
**Thiruvananthapuram, February 10, 2025** – Kerala Chief Minister Pinarayi Vijayan has directed cooperative banks to refrain from seizing homes used as collateral for loan recovery under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act. Speaking in the state Assembly on Monday, Vijayan emphasized the fundamental right to housing and urged cooperative banks to avoid evicting homeowners. He presented the cooperative sector as a role model for other banks in this matter.
Cooperatives Minister V.N. Vasavan echoed this sentiment, stating that banks should not display attachment notices on properties under the SARFAESI Act. He highlighted that Kerala Bank, a prominent cooperative bank, has not employed such practices. The announcement follows concerns over the impact of loan recovery measures on homeowners.
First Piper 