Thiruvananthapuram

27°C

Haze

Enter word or phrase

Look for articles in

Last Updated Friday July 28 2017 01:59 AM IST

Kerala Bank: expert committee to submit report this week

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

Thomas Isaac Thomas Isaac

Thiruvananthapuram: Kerala finance minister T.M. Thomas Isaac on Wednesday said that the expert committee formed to study various aspects of the proposed Kerala Cooperative Bank would submit its report in three days.

Also read: Kerala Bank will be a full-fledged bank, not NBFC: Vijayan

Left govt brings major change in Kerala's cooperative sector, Congress cries foul

"Government will take necessary steps on the recommendations of the committee's report to form the Kerala Cooperative Bank, an ambitious project of the LDF government," he said during question hour.

He said the objective was to strengthen the cooperative sector, especially in the wake of state public sector bank State Bank of Travancore merging with State Bank of India.

The proposal was to form a Kerala Bank by merging district co-operative banks with state cooperative banks, converting the present three-tie cooperative into two tier system, Isaac said.

He said the state government would monitor loans and advances made by SBI in Kerala after the merger and take it up in the state-level bankers committee if there was any reduction in it.

The finance minister also criticized the recent hike in service charges by SBI and said it has dented that bank's image among the people.

'There is no justification for imposing a penalty on people's earnings', Isaac said.

The State labor department would also look into the problems faced by more than 3,000 daily contract workers whose wages had been cut following the merger, he added.

Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

The opinions expressed here do not reflect those of Malayala Manorama. Legal action under the IT Act will be taken against those making derogatory and obscene statements.

Email ID:

User Name:

User Name:

News Letter News Alert
News Letter News Alert