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RBI grants permission for Kerala Bank

  • The RBI has granted permission to establish Kerala Bank by merging cooperative banks in the state. 
     
  • The state government received the permission letter from RBI in this regard. 
     
  • Kerala Bank will start functioning from November 1, 2019. 
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  • The Kerala Bank will be formed by merging Kerala State Cooperative Bank and district cooperative banks.
     
  • The project was delayed owing to opposition from some of the district cooperative banks.