RBI grants permission for Kerala Bank
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- 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.
- 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.