Kerala Bank’s governing body takes charge
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A brand new governing council headed by CPI(M) State committee member Gopi Kottamurikkal assumed charge of Kerala Bank on Thursday, after the Left Democratic Front registered a landslide victory within the elections to the governing body.
Opening a brand new part within the 105-year-old historical past of the Kerala State Cooperative Bank, which has been transformed into Kerala Bank, the elected members assumed workplace within the presence of Chief Minister Pinarayi Vijayan, Finance Minister T.M. Thomas Isaac, and Cooperation Minister Kadakampally Surendran at its headquarters at Co-Bank Towers right here.
Kerala Bank will open up new alternatives for the individuals, Mr. Vijayan mentioned, and urged the Malappuram district cooperative financial institution, which has not merged with Kerala Bank, to affix the initiative.
The elections to the governing body have been held for the primary time because the Kerala Bank got here into existence on November 29, 2019 by merging 13 district cooperative banks with the Kerala State Cooperative Bank. The voters comprised representatives of 1,557 main agriculture credit score cooperative societies and 51 city banks within the State.
Representatives
M.K. Kannan, who received from Thrissur, took over as vice chairman. The representatives of the districts are S. Shajahan (Thiruvananthapuram), G. Lalu (Kollam), M. Sathyapalan (Alappuzha), K. J. Philip (Kottayam), K.V. Sasi (Idukki), A. Prabhakaran (Palakkad), P. Gagarin (Wayanad), Sabu Abraham (Kasaragod), and K.G. Valsalakumari (Kannur). E. Ramesh Babu (SC) from Kozhikode, S. Nirmala Devi (reserved for ladies) from Pathanamthitta, and Pushpadas from Ernakulam have been elected unopposed.
Twelve out of the 14 elected members of the governing council are CPI(M) members. CPI and Kerala Congress (M) have one member every, G. Lalu (Kollam) and K.J. Philip (Kottayam).
The president, vice chairman, Mr. Lalu, Mr. Philip, Mr. Shajahan and Mrs. Valsalakumari have been nominated from the governing council to the Board of Management. V. Raveendran, former AGM, RBI, K.N. Harilal, Member, Planning Board, P. A. Ummer, former State Cooperative Bank president, Mani Vitayathil and Jiju P. Alex , Professor, Kerala Agricultural University have additionally been nominated to the Board of Management.
In the primary 12 months, Kerala Bank achieved a enterprise of ₹1,05,000 crore.
The working revenue until October 31, 2020 is ₹270 crore. The financial institution has disbursed loans for ₹40,265 crore and has deposit of ₹62,450 crore.
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