Media reports says one of the likely highlights of Kerala’s new budget will be creating a new banking body called Kerala Bank amalgamating all district cooperative banks with the state cooperative bank. The budget will also give the green-light to the Islamic bank concept.
Some believe the creation of Kerala Bank will go a long way in strengthening the cooperative banking sector in Kerala while others are cynical of this move.
It is worth a mention that Kerala has been in the league of states in the country that boasts a powerful cooperative movement.
Opposition has however criticized the govt move to amalgamate co-op banks into one.