Hindu reports Kerala has called upon RBI to withdraw the ‘caution notice’ it has issued to cooperative societies in the state.
Kerala’s Minister for Cooperation V.N. Vasavan has dashed off a letter urging the RBI Governor Shaktikanta Das to get the notice phrased with precision.
The state govt. argues it sows confusion among the public and affects the credibility of cooperative societies in Kerala.
It is worth mentioning that through its recent notice the RBI had cautioned the public against dealing with cooperative societies using the words ‘bank,’ ‘banker’ or ‘banking’ in their names without permission.
