RBI approves merger of district co-operative banks to form Kerala Bank: 11.10.2019

आरबीआई ने केरल बैंक बनाने के लिए जिला सहकारी बैंकों के विलय को मंजूरी दी

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.

About Kerala:

  • Capital: Thiruvananthapuram
  • Governor: Arif Mohammad Khan
  • Chief Minister: Pinarayi Vijayan
Important Possible questions based on above News:
  1. 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

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