THIRUVANANTHAPURAM: Cooperation Minister Kadakampally Surendran has denied reports that the government had put pressure on the Kannur District Cooperative Bank officials to grant loan worth `100 crore to the KSRTC.
Addressing a meet-the-press programme here, he said the DCB was volunteering to grant loan as it had surplus funds. Earlier, the DCB Pathanamthitta had plans to give loan to the KSRTC. But an employees’ union in the bank moved the High Court and secured a stay against lending money to KSRTC. Following this, the Kannur DCB has stepped forward.
Kerala Bank will start in 20 months The Minister said the proposed Kerala Bank would begin functioning in 20 months. The first phase of the formation of the bank was complete.