Points to Remember:
- The RBI has approved Kerala government’s proposal to merge 13 district co-operative banks with the Kerala State Co-operative Bank to form the Kerala Bank.
- The proposed Kerala Bank will have the largest banking network in the state.
- Under the arrangement, 13 DCBs will be merged with the Kerala State Co-operative Bank. All DCBs, except the one in Malappuram district controlled by the opposition Congress-led UDF, had approved the state government’s proposal in their general body meetings.
- Capital: Thiruvananthapuram
- Governor: Arif Mohammad Khan
- Chief Minister: Pinarayi Vijayan
Important Possible questions based on above News:
- The Reserve Bank of India has approved merger of which state’s district cooperative banks with its State Co-operative Bank, paving the way for the state government to set up its own bank? Kerala