While the Congress-led UDF has opposed the government plan to set up a Kerala Bank by merging District Co-operative banks with state cooperative banks ,the state Chief Minister has countered saying the move would strengthen the co-operative sector in Kerala, reports Press Trust of India.
The issue was raised in the state assembly with UDF members staging a walkout to protest against the refusal for a discussion on the inquiry ordered into the functioning of all 14 District Co-operative Banks, which they alleged, was a “prelude to dismissal of the governing bodies of the banks” as part of the government plan to set up the Kerala Bank.
In his intervention, the chief minister said an expert committee has been constituted to work out details of the proposed Bank.
Slamming the govt opposition says the government move was “undemocratic” and the inquiry was actually a “poison laced in sweet” to “kill” the district banks.
Meanwhile, media reports say opposition will soon organize a big convention that, among other things, will oppose the govt move to establish a Kerala Bank.
