Kerala Bank
Kerala Bank will soon start as the government convening a general body
meeting with 1,625 primary agriculture cooperative societies and 60 urban
cooperative banks in all districts.
Kerala Government is expected to pass a resolution for merging with the
Kerala State Cooperative Bank (KSCB) to form the Kerala Bank and followed by a
Cabinet decision to promulgate an ordinance to restructure the management of
the District Cooperative Banks had set the ground for expediting the procedures
for forming the new bank.
There are special team formed which comprising professionals would be
pressed into service for combining the assets and liabilities of the district
banks with the KSCB, developing new banking solutions to meet customer needs,
brand building, marketing and such other purposes.
One the merger is completed Kerala Bank would focus on fortifying its
ATM network, Mobile banking, treasury management system, foreign currency
management and such other operations with the consent of the Reserve Bank of
India.
Currently the cooperative banking network shares 50% of the banking
operations with the nationalized and new generation banks by doing a business
of ₹1.5 lakh crore is expected of their business which including the NRI
transactions.
The bank would cater to a wide spectrum of customers ranging from small
and marginal farmers and traders in the rural areas to the urban elite and
NRIs. It would have the leeway for allocating more funds for agriculture
lending and also setting its priorities, sources said.
We will keep you posted with the Latest’s update on Kerala Bank and
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