Speaking at the launch of Kerala State Cooperative Bank’s (Kerala Bank) year-long action plan in Kannur recently, Kerala Chief Minister Pinarayi Vijayan assured the safety of deposits in the State’s cooperative societies, emphasizing government-backed security through the Deposit Guarantee Board and Cooperative Restoration Fund.
Vijayan lauded the bank’s progress over five years, highlighting its growth in deposits, loans, and a top-ranking Credit-Deposit (CD) ratio among State banks.
He praised Kerala Bank’s leadership in providing loans to Primary Agricultural Credit Societies (PACS) under NABARD’s Agriculture Infrastructure Fund (AIF) scheme.
The action plan targets advancing technology, supporting SMEs, boosting profitability, and guiding PACS.
The event, presided over by Cooperation Minister V.N. Vasavan, saw awards distributed to PACS and key dignitaries, including NABARD CGM Baiju N. Kurup, Kerala Bank President Gopi Kottamurickal, and CEO Jorty M. Chacko, in attendance.