Kerala Bank gets a new structure – The New Indian Express


Express news service

KOCHI: Kerala Bank, which was created by merging 13 state-owned Cooperative District Banks (DCBs) with Kerala State Co-operative Bank, has formed a new structure, even as Covid restrictions have significantly slowed down the DCB software integration. This includes the establishment of seven regional offices to manage the affairs of two districts each. Kerala Bank CEO PS Rajan said that under the new structure the bank has set up seven regional offices – merging two DCBs each – while the headquarters remain in Thiruvananthapuram.

He said Thiruvananthapuram (along with Kollam) will be a regional office managing the affairs of two districts. Other regional offices are located in Alappuzha (with Pathanamthitta), Kottayam (with Idukki), Thrissur (and Ernakulam), Palakkad (and Malappuram), Kozhikode (Wayanad) and Kannur (Kasaragod). The bank will also have credit processing centers in each district, empowered to authorize loans of up to Rs 40 lakh. The head office is based in Kochi.

Software integration blocked
Meanwhile, the software integration and implementation of UPI or the real-time instant payment system to facilitate interbank transactions on a mobile platform and the constitution of a new board of directors has been delayed. because the government has focused on activities related to Covid. Rajan, who was appointed CEO of the new bank last November, said the Covid-induced lockdown has slowed the integration of district cooperative banks, and expressed confidence that Malappuram DCB, the only cooperative bank that is left out of the merger plan, will soon join the Kerala Bank.

“We were unable to move forward on the payment service, UPI’s link with Aadhaar, etc. due to software integration issues,” Rajan said. Rajan said the central government’s decision to place all urban and multi-state cooperative banks under the direct supervision of the Reserve Bank of India (RBI) will have little impact on Kerala Bank, however, as the merged entity is already under the supervision of the banking regulator. “At present, Kerala Bank is partly regulated by NABARD and partly by RBI. Once the onboarding process is complete, we will report directly to the RBI, ”Rajan told TNIE.

He said Kerala Bank is taking various measures to comply with RBI standards for banks, such as the new capital adequacy standards. State cooperative bank. The state-level bankers committee has yet to combine deposits. Rajan said the Kerala Bank board was an interim board. “The government must make a decision on the new permanent council,” he said, responding to a specific question. The bank is also in the process of tendering for the appointment of a new software supplier.

Covid effect
Software integration and implementation of UPI or real-time instant payment system to facilitate interbank transactions on a mobile platform and the creation of a new
The board of directors was delayed as the government focused on Covid-related activities.


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