The Kerala government has set up a ‘Task Force’ with former NABARD chief general manager V.R. Raveendranath to work out steps for setting up of the ‘Kerala Bank.’
The government will nominate four members from different sectors including IT, Banking and Co-operation to the Task Force, said State Minister for tourism and cooperation Kadakampally Surendran.
The expert committee, headed by M.S. Sreeram of Indian Institute of Management (IIM) Bangalore.”The government expects that Kerala Bank will become a reality in next 20 months time,” Surendran said.
The plan is to form a Kerala Bank by merging district co-operative banks with state co-operative banks, converting the present three-tier cooperative into a two-tier system.