Kerala Cooperative Bank will come into existence in August, 2018. RBI has already been approached in this regard, reports New Indian Express.
A five-year business policy of the bank – including redeployment of employees and coordination of investment and loan schemes – has been submitted to the RBI, say official sources.
The proceedings for the bank formation will be over by August 16, 2018 (The first day of the Malayalam month of Chingam).