At long last, ”the Kerala Bank” will come into the existence as RBI has decided to green light it., reports a news outlet.
Reacting to the news, Kerala Chief Minister Pinarayi Vijayan said this would help Kerala develop faster.
13 DCBs will be amalgamated except the one in Mallapuram controlled by Congress party.
While the opposition is critical of the move saying this weaken the cooperative sector the state government it as an initiative that will strengthen the sector.