After RBI nod, Kerala Bank to be established in 6 months, says minister

The bank is expected to see a merger of around 823 branches of 14 district cooperative banks and the State Cooperative Bank

The Kerala government is planning to launch the Kerala Co-operative Bank in six months by merging the district and state cooperative banks. It received the much-awaited Reserve Bank of India (RBI) nod for the new bank last week. 

The new bank is expected to have around 5,300 touch points and a deposit of over Rs 600 billion, said Kadakampally Surendran, minister for co-operation, tourism and Devaswoms.  
 

"The RBI has asked the state government to implement the 19 conditions put forward in the in-principle approval before March 31, 2018, and approach them through NABARD for final approval. We are taking