KERALA BANK

About: 

• The Kerala Bank would be formed amalgamating the District Co-operative Banks (DCBs) with Kerala State Co-operative Bank. With its formation, the proposed Kerala Bank will be the largest banking network in the state.
  
  
• The final nod by the RBI was subjected to some conditions. The Kerala government will have to complete the stipulations laid down for the merger and submit a compliance report to the RBI before March 31, 2020.
  
  
• However, the proposed amalgamation will have to wait for the High Court's order on cases challenging the amendment to Section 14(A) of the Kerala Cooperative Societies Act (to do with transfer of assets and liabilities).
  
  
• The government had claimed that the objective of the formation of the Kerala Bank was to strengthen the cooperative sector, while the Opposition had alleged that it would destroy the traditional cooperative sector.