RBI approves formation of ‘Kerala Bank’ by merger of district co-operative banks

The Reserve Bank of India has given approval to the Kerala state government to amalgamate 13 district cooperative banks (DCBs) with the Kerala State Cooperative Bank and form the new entity named “Kerala Bank”. (Total of 14 banks)
RBI has given the approval with certain conditions to be fulfilled.
The Kerala Bank will begin its services from November 1.

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