Kerala Bank’s first governing council decides on child investment plan
Thiruvananthapuram: The first governing council meeting of Kerala Bank that took charge on Friday, discussed on action plan to retrieve defaulted payments and measures to popularize investment and savings plans.
The directors board, with Gopi Kottamurikkal as president and MK Kannan as vice president, also approved the child investment plan. The investment plan will have a validity until the student reaches Class 12. After completing Class 12, the invested amount and a corresponding proportion of bank share will be repaid to the child.
It is evaluated that the investment plan will be a help to students while going for higher studies and also helps in cultivating savings behavior in children.
The board also decided on a special drive to retrieve loan dues.
Kerala Bank was formed on November 26, 2019 after merging district banks with the state cooperative bank. An interim administrative committee headed by the cooperative department secretary was in charge of the bank for a year. The period of this committee expired on Thursday.
On Friday, the chief minister announced that CPM state committee member Gopi Kottamurikkal was elected as the chairman and MK Kannan as vice chairman of Kerala Bank.
14 members were elected as the representatives of primary agriculture cooperative societies and urban bank. One member each were elected from every district except Malappuram as the representatives of agriculture cooperative societies. As Malappuram district bank was not merged with Kerala bank, no representative was elected from the district.
The winning representatives of primary agriculture cooperative societies are as follows: Adv S Shajahan (Thiruvananthapuram), Adv G Lalu (Kollam), S Nirmala Devi (Pathanamthitta), M Sathyapalan (Alappuzha), KJ Philip (Kottayam), KV Sasi (Idukki), Adv Pushpadas (Ernakulam), MK Kannan (Thrissur), A Prabhakaran (Palakkad), P Gagarin (Wayanad), E Ramesh Babu (Kozhikode), KG Valsala Kumari (Kannur) and Sabu Abraham (Kasaragod).