Guwahati, March 25: Hundreds of youth activists from Jatiya Yuva Sakti, the youth wing of the Assam Jatiya Parishad (AJP), staged a massive protest outside the Assam Cooperative Apex Bank headquarters in Panbazar, demanding a high-level probe into alleged financial corruption involving the bank’s top officials.

Led by AJP youth leaders Chandrapal Baruah, Iftikar Hussain, Ankur Gogoi, Durlav Talukdar, and Ananya Saikia, the demonstrators accused the bank’s chairman, Biswajit Phukan (MLA), and managing director, Dombaru Saikia, of orchestrating financial misdeeds for personal gain. Protestors raised slogans against the alleged corruption and criticized the state government for failing to take decisive action despite mounting evidence.

It has been alleged that since June 2024, the bank has been operating without a formal contract with any IT vendor, raising serious security and operational concerns.

Banking infrastructure costs allegedly surged from ₹28 crores in 2018 to nearly ₹50 crores in 2025, with ₹14 crores allegedly funnelled to KPMG under suspicious circumstances.
A complaint was reportedly submitted to the Central Vigilance Commission on January 30, but the state government has remained unresponsive.

In a March 3 directive, the Assam government’s Cooperation Department instructed the Registrar of Cooperative Societies to investigate the allegations and submit a report within 15 days. However, protestors dismissed this as a mere formality, alleging that the government was shielding those involved.

“The financial future of thousands of account holders is at stake, yet the government remains silent. We demand an independent inquiry and strict punishment for those who have misused public funds,” said Chandrapal Baruah.

The Assam Cooperative Apex Bank Ltd. is a crucial financial institution, and the unfolding scandal has sparked widespread public concern. With opposition parties and civil society groups now joining the chorus for accountability, pressure is mounting on the government to act decisively.

The protestors warn that this demonstration is only the beginning of a larger movement demanding financial transparency and justice if swift action is not taken.

Also Read: Assam Govt to launch cluster-based teacher cadre for remote areas

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