Kerala Bank CEO Rajan P S viewed the government direction as mutually beneficial for the bank and the exchequer.
The state has already appointed a three-member interim governing council for Phase I of bank implementation.
Maiden general body meeting gives unanimous nod to new brand name, logo, business plan for next 3 yrs
All district cooperative banks except the Malappuram bank passed such a resolution.
According to the DRHP, the IPO comprises of a fresh issue worth Rs 800 crore and an Offer for Sale (OFS) aggregating up to Rs 176.2 crore.
Formally announcing formation of the bank, Chief Minister says short-term loans worth Rs 5,000 crore can be disbursed by March 2020
Most of the agri loans are sanctioned from Nabard; interest to come down to 6 per cent
The much-awaited Kerala Bank has courted controversy on its inaugural day itself.