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Steps on for formation of Kerala Bank

Press Trust of India  |  Thiruvananthapuram 

The has set up a task force with former Chief General Manager V R Raveendranath to work out steps for setting up of the ''

would nominate four members from different sectors including IT, and Co-operation to the Task Force within one week, State Minister for Tourism and Cooperation Kadakampally Surendran told a meet-the-press programme here today.

The expert committee, headed by M of Indian Institute of Management (IIM) Bangalore, entrusted with the study of various aspects of the proposed bank, had submitted its report in April, he said.

The report is likely to be discussed at the next cabinet meeting, the minister said.

"expects that will become a reality in next 20 months time," Surendran said.

The plan is to form a Kerala by merging district co-operative banks with state co-operative banks, converting the present three-tier cooperative into two-tier system.

Surendran refuted the Congress-led Opposition UDF's allegation that the new bank would destroy the cooperative sector in the state.

The Centre was insisting that the state should move from the three-tier cooperative system to two-tier, he said.

He also said there was a rethink among opposition parties with regard to the Kerala Bank in the changed atmosphere in the country.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 14:28 IST