Expecting RBI response on Kerala Bank this month, says state minister

The government also claims that it was able to reduce the gross losses for the Kerala State Cooperative Bank in the state by 50 per cent during the past two years

The government of Kerala expects to launch its project Kerala Bank this year, by consolidating the State Cooperative Bank and the 14 district cooperative banks on its territory. The government is expecting a response from the Reserve Bank of India (RBI) for its plans this week, a senior minister from the State said. 

"The matter is before the RBI for approval and we are expecting the initial response from the apex bank to come in by April 25," said Kadakampally Surendran, Minister for Co-operation, Tourism and Devaswoms, Kerala.

"We are taking steps to roll out the plan soon after the approval comes