Another "Kerala Model": Kerala Bank gets RBI nod

RBI gives final nod for formation of Kerala Bank | Cooperatives: Changing with times


https://timesofindia.indiatimes.com/city/thiruvananthapuram/rbi-gives-final-nod-for-formation-of-kerala-bank/articleshow/71511411.cms
Kerala cooperatives have learned their lessons the hard way and finally decided to get mainstreamed complying with the regulatory requirements.
Welcome initiative by Kerala. My media response:

October 10, 2019
Kerala Bank gets RBI nod*

Since the beginning of last century when cooperative movement emerged on the Indian scene, cooperatives have been playing a proactive role in the economic development and social life of Kerala. Attempts by vested interests to capture and manage cooperative institutions and resultant efforts to circumvent regulatory and supervisory requirements did affect the growth of this ideal institutional system, off and on, since certain provisions of the Banking Regulation Act, 1949 were made applicable to cooperative societies. The problems faced by cooperative banks during demonetization (2016) and the recent failure of the Mumbai-based urban cooperative bank (PMC Bank) can be traced to such intervention by external forces.
The conditions subject to which RBI has given the ‘go ahead’ to Kerala bank relating to capital adequacy, management and institutional set-up are very liberal. The stipulation that administration and management will be guided by the present guidelines for management of urban cooperative banks may need review even before the commencement of business by Kerala Bank, in the context of the recent PMC Bank failure.
In all probability, coming into being after merger of Kerala’s own State Bank of Travancore with SBI, Kerala Bank will be the biggest cooperative bank in India and soon get categorized under “too big to fail” category. That adds to GOI’s and RBI’s responsibility to ensure that the dual control (state government having a major role in management matters and RBI’s regulatory and supervisory role) does not adversely affect the institution’s smooth functioning.
M G Warrier, Mumbai
*Published in The Hindu Business Line on October 11, 2019:
RBI nod for Kerala Bank


https://www.thehindubusinessline.com/opinion/letters/letters-to-the-editor/article29648866.ece
If the link opens please read my response on Kerala Bank.

M G Warrier

 

Comments

Post a Comment

Popular posts from this blog

NAVAGRAHA STOTRAM

NAVAGRAHA STOTRAM* According to astrology, the positions of the nine planets in the twelve constellations of the zodiac and their movements are considered to be quite significant. The nine planets ‘Navagraha’ affect every aspect of human life. They play an important role in the activities, physical and mental health and life of any individual. The unfavorable positioning of any of these planets can be the cause of problems, bad health, and stagnation for many people. However, there is a solution to avoid the ill effects of the position and movement of the ‘Navagraha’ in our lives. Navagraha mantras (or stotram) are simple mantras which work as powerful healing tools to reduce the negative effects of any of the nine planets. These mantras are Hindu holy hymn addressing the nine planets. Benefits Of Navagraha Stotram And The Way to Practice The Navagraha Stotram is written b y Rishi Vyasa and is considered to be the peace mantra for the nine planets. They are powerful m
Read more

THE SUNSET OF THE CENTURY

*SUNSET OF THE CENTURY: Rabindranath Tagore THE LAST SUN OF THE CENTURY SETS AMIDST THE BLOOD-RED COLOURS OF THE WEST AND THE WHIRLWIND OF HATRED. THE NAKED PASSION OF SELF-LOVE OF NATIONS IN ITS DRUNKEN DELIRIUM OF GREED IS DANCING TO THE CLASH OF STEEL AND THE HOWLING VERSES OF VENGEANCE. THE HUNGRY SELF OF THE NATION SHALL BURST IN A VIOLENCE OF FURY FROM ITS OWNSHAMELESS FEEDING FOR IT HAS MADE THE WORLDITS FOOD, AND LICKING IT, CRUNCHING IT AND SWALLOWING IT IN BIG MORSELS, IT SWELLS AND SWELLS TILL IN THE MIDST OF ITS UNHOLY FEAST DESCENDS THE SUDDEN HEAVEN PIERCING ITS HEART OF GROSSNESS…   *Note: “The Sunset of the Century”, translated by the poet, from Naivedya; The English Writings of   Rabindranathtagore, Volume II,Delhi 1996, page 466. Quoted in his article ‘Critiquing nationalism’ by K Satchidanandan (Frontline, November 14, 2014). The article takes you to a much broader spectrum. HAPPY READING(READ MORE STAN
Read more

The King of Ragas: Sankarabharanam

                       The King of Ragas                      --------------------------     Long ago  serpents were put to lot of hardships.They  were afraid of other animals. They had to seek refuge in the hermitage of sage Saraba.The sage was a true devotee of Lord Shiva.He used to pray Shiva with melodious songs. As he sang a particular raga the snakes were much inspired and they began to dance,. Slowly the serpents became friendly with the sage. They brought water in their mouths for the pooja.They secreted  a special fluid in which the flowers got stuck to their bodies.The sage was much astonished by the service of the snakes.As the sarpas became very close to the sage ,they requested him to help having Darsan of Lord Siva. As requested by the sage Shiva appeared in the form of  a  Kapalika and stayed in the ashram.The music and dance of the snakes continued. The snakes rendered service to the kapalika as they considered him  a Shiva bhakta.Shiva was much pleased with t
Read more