The CPM controlled Chirakkal Service cooperative bank has decided to develop Chirakkal Rajas Higher Secondary and Rajas Upper Primary School as leading educational institutions in the state.
Sources say this is the first time in the state that a cooperative bank is getting directly involved in the management of schools. The cooperative bank has spent Rs 12 crore on buying the schools.
Earlier a Congress trust wanted to clinch a deal with the family that controlled these institutions but this did not work out. However, the CPM’s cooperative society’s success is being seen as the leftists’ political masterstroke.