New Indian Express reports even though the Co-operative banking sector is strong in Kerala, it is backward in terms of high technology compared to the New-Gen banks in the country.
Co-operative banks in the state need technological modernization urgently, say sources watching the cooperative scene.
The Kerala Co-operative Banking sector comprises Kerala state cooperative bank at the top, 14 district co-operative banks in the middle and over 2,500 primary co-operative credit societies at the base level.
The total deposits in cooperative banking sector in Kerala is Rs 1.7 lakh crore.