A source is quoted saying the newly created Kerala Bank has a new structure with seven regional offices to handle businesses of two districts cooperative banks each but with the headquarters remaining in Thiruvanthapuram, reports New Indian Express.
The bank will also have credit processing centres in each district, which will sanction loans up to Rs 40 lakh. The corporate office is based in Kochi. The Kerala Bank is taking steps to comply with RBI’s norms such as new capital adequacy norms.
Quoting the government data, the district cooperative banks have a total deposit base of Rs 59,653.49 crore and another Rs 12303.63 crore for the Kerala State Cooperative Bank.