The Reserve Bank of India has accorded approval to the Kerala government to set up the Kerala Bank, State Minister for Cooperation Kadakampally Surendran said on Wednesday.
The Kerala Bank will begin its services from November 1 to coincide with the Kerala Piravi Day. It will be set up by merging all 13 District Cooperative Bank (DCB) with the Kerala State Cooperative Bank (KSCB).
The Kerala Bank, which will have the state’s largest banking network, was one of the major promises of LDF when it came to power in May 2016.
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