RBI is yet to give the green light for the Kerala bank but a lot of money is flowing out of the public coffers for the task force constituted for the new bank, reports Onmanrorama.
The nine-member task force receives Rs 10 lakh every month as salary. In addition to this, the state government is reportedly spending lakhs for the panel.
In a recent incident, the government had spent Rs 2.5 lakh for conducting a meeting of the task force. The meeting was held at a hotel in Kochi on May 25 to discuss the services which would be offered by Kerala Bank after its formation, reports the online magazine.
