The state government of Kerala, India, is likely to get regulatory approval for the merger of 14 district cooperative banks by February-end, The Hindu reported Feb. 18, citing unnamed sources.
The merger proposal has reportedly been recommended by National Bank for Agriculture & Rural Development, or NABARD, to the Reserve Bank of India and the positive report is now being processed to expedite the proposed merger, sources said.
A recommendation from NABARD is the primary level clearance for the proposed merger of the 14 cooperative banks with Kerala State Co-Operative Bank, the sources added.
