KOCHI: Minister for Cooperation Kadakampally Surendran has assuaged fears about the formation of Kerala Bank. He said there was no reason for anyone to worry about the bank, which was meant to bring together investments by Keralites for the development of the State.
The Minister was inaugurating a slew of programmes organised by the Ernakulam District Cooperative Bank, said a press release here.
He said neither employees would be retrenched nor the number of branches of cooperative banks reduced when the proposed Kerala Bank was formed.
“The current service and wage conditions will continue. The public can express their views on the feasibility study done on the proposed bank. The task force set up to study the setting up of the bank will consider the views of all,” he added.
Banking on youth
The Minister said though cooperative banks had set an example for the whole nation, they had not been able to attract young people. “Young people do not worry about service charges demanded by commercial banks. They are looking at easy and quick services. Modernisation of cooperative banks is needed to attract youth,” he observed.
Mr. Surendran said the Union government was going ahead with its decision to create big banks. “There will be more bank mergers in the future. However, ordinary people will need banks they can depend on, and primary cooperative societies and banks will be accessible to them,” he added.
