Senior Congress leader and former president of Tumakuru District Central Cooperative Bank, K.N. Rajanna, has blamed former Prime Minister H.D. Deve Gowda and Deputy Chief Minister, G. Parameshwara for superseding the DCC bank.

Addressing a press conference here on Sunday, Mr. Rajanna alleged that political vendetta was the reason for it and referred to Mr. Gowda’s defeat in the Lok Sabha elections from Tumakuru.

Without taking the name of Dr. Parameshwara, he referred to him as “zero traffic”.

By superseding the bank, the government was creating problems to hundreds of farmers of Tumakuru district, he said, while pointing out that the bank had started the process of providing loans to more than one lakh farmers.

Mr. Rajanna said that when he assumed charge as DCC bank president, the deposits totalled just ₹100 crore and now it had touched ₹1,000 crore. Deputy Commissioner Rakesh Kumar assumed charge as administrator of the bank on Saturday. He alleged that all the rules had been flouted by the government. They had superseded the bank without giving him a notice as per the Banking Regulation Act and without taking permission from the RBI.