 | |
| Company type | Cooperative bank |
|---|---|
| Industry | Banking Financial services |
| Founded | 1915 Travancore |
| Headquarters | , |
| Parent | Government of Kerala |
| Website | keralabank |
Kerala State Co-operative Bank Limited, branded as Kerala Bank, is an Indian co-operative bank set up by the Government of Kerala, India. [1]
The beginning of the Kerala State Co-operative Bank Ltd dates back to early 20th century. In 1914, the then Maharaja of Travancore, His Highness Sree Moolam Thirunal Ramavarma, through a proclamation introduced "The Travancore Co-operative Societies Regulation Act". The Bank was registered in the year 1915 as the "Trivandrum Central Co-operative Bank" which was the first Co-operative Society to be formed in the former princely State of Travancore. It started functioning as a Bank on 18 January 1916 with a share capital of ₹1,00,000 made up of 1000 shares of ₹100 each. In the beginning there were 16 Co-operative Societies and 69 individuals as its members.
In 1943, it was converted into the Travancore Central Co-operative Bank, giving it a federal character of the Travancore State. In the wake of Indian Independence and the reorganization of States, the Bank was re-organized as a State Co-operative Bank for Travancore-Cochin State in the year 1954. In the year 1956, the reorganization of Indian States took place. The State of Kerala was formed on 1 November 1956. The Bank was then elevated to the position of State Co-operative Bank for the State of Kerala and it became "The Kerala State Co-operative Bank Ltd." At that time, the Bank had a working capital of ₹42.90 lakhs, deposit of ₹30.33 lakhs and loans and advances to the tune of ₹21.66 lakhs.
The Kerala State Co-operative Bank was registered and retained as an Apex Bank in which only the Co-operative Banks approved by the Registrar of Co-operative Societies were admitted as members. Since then, the Trivandrum District Co-operative Bank and the Government of Kerala were the only members. Subsequently after the formation of the Districts, District Co-operative Banks were registered in each District and all the District Co-operative Banks were admitted as members.
In July 1966, the Kerala State Co-operative Bank Ltd was included in the 2nd Schedule of the Reserve Bank of India Act 1934. As per the provisions contained in the 2nd Schedule of the Act, gradually approved the Bank as a Scheduled State Co-operative Bank. The Kerala State Co-operative Bank Ltd is the first Scheduled Apex Co-operative Bank in the Co-operative Banking Sector in the country. In 1972, it was issued a license to carry on the business of Banking under Section 22 of the Banking Regulation Act, 1966. This Bank is a financing bank as defined in the Kerala Co-operative Societies Act, 1969 and is a Co-operative Society which has only other Co-operative Societies as its members. The bank is engaged in banking business within the frame work of rules/regulations/guidelines stipulated by Reserve Bank of India and National Bank for Agricultural and Rural Development (NABARD).
The Government of Kerala had taken a policy decision to convert the existing three tier short term co-operative structure within the State into a two tier structure. The Reserve Bank of India had conveyed their consent for the amalgamation of 13 District Co-operative Banks which approved scheme of amalgamation with Kerala State Co-operative Bank. The Registrar of Co-operative Societies has approved the resolution passed by 13 District Co-operative Banks on 3 July 2019 to transfer its assets and liabilities in whole to Kerala State Co-operative Bank and issued order for amalgamation of 13 District Co-operative Bank with Kerala state Co-operative Bank, based on the resolutions passed by General Bodies of respective District Co-operative Banks as provided under section 14A of Kerala Co-operative Societies Act.
Among the 14 District Co-operative Banks functioning in Kerala at the time of the formation of Kerala State Co-operative Bank, only the Malappuram District Co-operative Bank Ltd had opposed merger with the Kerala State Co-operative Bank. Also, the High Court of Kerala has issued a stay order on the Kerala State Government's move to merge the Malappuram District Co-operative Bank with the Kerala State Co-operative Bank. [2] In addition to the 14 district co-operative banks, Kerala has a network of 1,692 Primary Agricultural Credit Societies (PACS's) and 16 licensed Urban Co-operative Banks all of which have become members/shareholders of the current bank.
The Primary Agricultural Credit Societies (PACS's) and Urban Co-operative Banks (UCB's) are designated as the 'A' Class Members of the Kerala State Co-operative Bank. The supreme authority of the bank is the General Body. The General Body consists of delegates of 'A' Class Members, ex-officio Directors and Directors nominated by the Government. The management of the bank is vested in the Board of Directors subject to the overall control of the General Body. The Board of Directors consist of twenty-one members of whom fifteen are elected by the 'A' Class Members of the Bank.
Rajan P. S. is the first Chief Executive Officer and Mini Antony IAS, the first Administrator of the Kerala State Co-operative Bank.The President of Kerala Bank is Gopi Kottamurikkal and Vice-President is MK Kannan.
The headquarters of the Kerala Bank is in Thiruvananthapuram and the corporate office is based in Kochi. The Bank has seven regional offices created by merging two District Co-operative Banks to handle businesses of two districts each. [3] The regional offices are in Thiruvananthapuram (along with Kollam), Alappuzha (along with Pathanamthitta), Kottayam (along with Idukki), Thrissur (along with Ernakulam), Palakkad (along with Malappuram), Kozhikode (along with Wayanad) and Kannur (along with Kasaragod). [4]
In September 2022, a college student from Sooranad committed suicide after the Kerala Bank pasted attachment notice indicating defaulting on loan repayment in front of her house. [5]
Thiruvananthapuram, formerly known as Trivandrum and T'puram, is the capital city of the Indian state of Kerala. It is the most populous and largest city in Kerala with a population of 957,730 within the city limits. Thiruvananthapuram is where Asia's first space university, the Indian Institute of Space Science and Technology is located, and India's first IT park, Technopark Thiruvananthapuram is in Thiruvananthapuram. The city also includes India’s first deep-water trans-shipment port, the Vizhinjam International Seaport Thiruvananthapuram, as well as the Sree Padmanabhaswamy Temple, known as the richest temple in the world. Thiruvananthapuram is where India's space program began, with the Vikram Sarabhai Space Centre and the headquarters of Liquid Propulsion Systems Centre located here. Thiruvananthapuram is also known for its cultural heritage, being associated with the musical contributions of Swathi Thirunal Rama Varma and the artistic legacy of painter Raja Ravi Varma.Thiruvananthapuram has contributed to the development of Malayalam literature through individuals like Ulloor S. Parameswara Iyer,Kumaran Asan, C. V. Raman Pillai and Narayana Guru. Notable beaches in Thiruvananthapuram include Kovalam, Varkala, Shankumugham Beach and Poovar. The encompassing urban agglomeration population is around 1.68 million. Located on the west coast of India near the extreme south of the mainland, Thiruvananthapuram is a major information technology hub in Kerala and contributes 55% of the state's software exports as of 2016. Referred to by Mahatma Gandhi as the "Evergreen city of India", the city is characterised by its undulating terrain of low coastal hills.
The Kingdom of Travancore, also known as the Kingdom of Thiruvithamkoor or later as Travancore State, was a kingdom that lasted from c. 1729 until 1949. It was ruled by the Travancore Royal Family from Padmanabhapuram, and later Thiruvananthapuram. At its zenith, the kingdom covered most of the south of modern-day Kerala and the southernmost part of modern-day Tamil Nadu with the Thachudaya Kaimal's enclave of Irinjalakuda Koodalmanikyam temple in the neighbouring Kingdom of Cochin. However Tangasseri area of Kollam city and Anchuthengu near Attingal in Thiruvananthapuram were parts of British India.
Thiruvananthapuram International Airport, is an international airport that serves Thiruvananthapuram, the capital city of Kerala, India. Established in 1932, it is the first airport in the state of Kerala and the fifth international airport of India, officially declared in 1991. It is the operating base of Air India and Air India Express. The airport, spread over an area of 800 acres (320 ha), the airport is approximately 3.7 km (2.3 mi) due west from the city centre and the Padmanabhaswamy Temple, 16 km (9.9 mi) from Kovalam beach, 13 km (8.1 mi) from Technopark and 21 km (13 mi) from the under-construction Vizhinjam International Seaport. It shares a visible proximity to Shankumugham Beach making it the nearest airport to a water body in India as it is, just about 0.6 miles away from the Arabian Sea. It is also the southern most international/domestic airport in the Indian subcontinent.
Sree Padmanabhadasa Sree Chithira Thirunal Balarama Varma, popularly known as Sree Chithira Thirunal, was the last ruling Maharaja of the Indian princely state of Travancore, in southern India until 1949 and later the Titular Maharajah of Travancore until 1991. His reign is known for several notable reforms that have indelible impact on the society and culture of Kerala.
State Bank of Travancore (SBT) was a major Indian bank headquartered in Thiruvananthapuram, Kerala, and was a major associate of State Bank of India.
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791.
Thiruvananthapuram District is the southernmost district in the Indian state of Kerala. The district was created in 1949, with its headquarters in the city of Thiruvananthapuram, which is also Kerala's administrative centre. The present district was created in 1956 by separating the four southernmost Taluks of the erstwhile district to form Kanyakumari district. The city of Thiruvananthapuram is also known as the Information technology capital of the State, since it is home to the first and largest IT park in India, Technopark, established in 1990. The district is home to more than 9% of total population of the state.
Kilimanoor is a panchayat and a town in the Chirayinkeezhu taluk of Thiruvananthapuram district in Kerala, India. It is located on MC/SH 1 Road, 33 kilometres (21 mi) North-west of the city of Thiruvananthapuram (Trivandrum), 14 km (8.7 mi) east of Attingal and 20 km (12 mi) east of Varkala.
The history of Thiruvananthapuram dates back to the 18th century AD. In 1795, the city became the capital of the princely state of Travancore. Several historic landmarks of the city, including the Kowdiar Palace, University of Kerala, and Napier Museum were built during that period. After independence, Thiruvananthapuram was made the capital of the state of Kerala.
The importance and antiquity of education in Kerala are underscored by the state's ranking as among the most literate in the country. The educational transformation of Kerala was triggered by the efforts of both Church Mission Society missionaries like Jon Munro and clergy of Catholic church like Fr Kuriakose Elias Chavara and Fr Charles Lavigne and were the pioneers that promoted mass education in Kerala, in the early decades of the 19th century. The local dynastic precursors of modern-day Kerala, primarily the Travancore Royal Family, the Nair Service Society, Sree Narayana Dharma Paripalana Yogam, and Muslim Educational Society (MES), also made significant contributions to the progress on education in Kerala. Local schools were known by the general term kalaris, some of which taught martial arts, but other village schools run by Ezhuthachans were for imparting general education. Christian missionaries and British rule brought the modern school education system to Kerala. Ezhuthu palli was the name used in earlier times. The word was derived from the schools run by the Buddhist monasteries. For centuries, villages used to set up an ezhuthupally or ashan pallikoodam with one or two teachers. Students used to go this school from nearby areas and learn languages, literature, mathematics, grammar etc. After completing this, students may continue study about specific subjects such as ayurveda, astrology, accounting etc. Censuses during the 1800s showed that Travancore, Cochin, and Kannur areas have many such schools.
Palai Central Bank was a commercial bank headquartered in Kerala, South India that operated between the early 1900s and 1960. Although it was started in a small, remote city, the bank grew to become not only the largest bank, but the largest institution in Kerala, after the state government, and the 17th largest among the 94 scheduled banks in India. The Kerala High Court in 1960 ordered the liquidation of the Palai Central Bank on a petition from the Reserve Bank of India.
The Kerala Co-operative Milk Marketing Federation (KCMMF), known by its trade name Milma, is a state government cooperative society established in 1980 headquartered in Thiruvananthapuram. It is an India state government cooperative owned by the Ministry of Cooperation, Government of Kerala. KCMMF is a Federation of three Regional Milk Unions: the ERCMPU, TRCMPU and MRCMPU.
A. P. Udayabhanu was an Indian freedom fighter, politician, journalist, writer, and social activist from the state of Kerala.
Media in Kerala, India are widely accessible and cater to a wide variety of audiences. Kerala has the highest media exposure in India with newspapers publishing in nine languages, mainly English and Malayalam.
Banking was one of the most preferred lines of business in the princely states of Travancore and Cochin, and the Malabar Province of British India — the area that later became the state of Kerala — during the twentieth century. A list of some of the banks that operated in the region during the twentieth century are given below. Due to various reasons, most of them were either closed or amalgamated with other banks, leaving only a handful now.
P. Viswambharan was an Indian politician, socialist, trade unionist and journalist.
The following outline is provided as an overview of and topical guide to Kerala:
The cooperative movement in India plays a crucial role in the agricultural sector, banking and housing. The history of cooperatives in India is more than a hundred years old. Cooperatives developed very rapidly after Indian independence. According to an estimate, more than half a million cooperative societies are active in the country. Many cooperative societies, particularly in rural areas, increase political participation and are used as a stepping stone by aspiring politicians.
Kerala State Housing Board is a Kerala governmental group that provides direction and planning in housing activities. It was established under Act 19 of 1971.
