AIndian banking system and the rural credit system
BIndian money market and co-operative movement in Kerala
CThe Reserve Bank of India and commercial banks
DThe agricultural sector and the industrial sector in Kerala
Answer:
B. Indian money market and co-operative movement in Kerala
Read Explanation:
KSCB
Origin:
The Maclagan committee (1914), Calvert committee (1926-1928) and AIRCSC (1951-1954) recommended the formation of State Cooperative Banks.
KERALA STATE CO-OPERATIVE BANK (KSCB):
Vision:
"To be a Universal Bank in the Co-operative structure with a wide network across the state and abroad, providing complete range of financial services, to all segments of the society, under one roof with professionalism and social commitment."
Apex bank for short term and medium term credit structure in Kerala
Sec 2(ka):- Kerala State Co-operative bank
It is the first Scheduled Co-operative bank in India (1-7-1966)
The Kerala bank was established by amalgamating 13 DCB's in Kerala
14 dots in Kerala bank logo represents - 14 DCB
Brand Name - "Kerala Bank" (29-11-2019)
Origin:
Bye-law Amendment to adopt the brand name 'Kerala Bank' was approved by the General Body meeting on 20th January, 2020
12-01-2023 : Malappuram DCB amalgamate with Kerala Bank
HQ. Co-Bank Tower - TVM
Corporate Business Office - Ernakulam
In KSCB, now the A class membership is given to PACS, Urban Co- operative Banks and State Govt.
Other Co-operative Societies are admitted in Kerala Bank as - Nominal / Associate member
Kerala Bank is permitted to give dividend to its nominal / Associate member Societies
No individual membership is given in KSCB.
Board of Directors:
Board of directors shall consist of 21 members
Total 21 Member Board of Directors of Kerala bank
General - 10
Women - 3
SC / ST - 1
Urban Bank - 1
Independent Professional Directors - 2
Ex-Officio Member - 4
Secretary on Co-operation
Registrar
NABARD C.G.M
Kerala Bank CEO
Apart from the 21 members of the Kerala State Cooperative Bank, one member (such "invitee" shall not have any voting right), who shall be invited by the Director Board to represent the Non-credit societies for a period of one year on rotation basis, from among the Apex Co-operative Federations of the State.
The chairman of KSCB who subsequently become the Minister on Co- operation - Sri. Pinarayi Vijayan
The establishment of new Kerala Bank is the result of policy decision taken by the Govt of Kerala to convert three tier short term Co-operative credit structure within the state into two tier system
It is under the control of RBI and NABARD
Kerala Bank is the first state owned Bank in Co-operative sector
First President of Kerala Bank - Gopi Kottamurikkal
First CEO of Kerala Bank - P.S.Rajan
The First members of the Kerala State cooperative Bank - Trivandrum District Co-operative Bank and the Government of Kerala
KSCB is the connecting link between Indian money market and Co- operative movement in Kerala
KSCB is the connecting link between NABARD and Co-operative credit institutions in the state for agriculture and rural development
Principal State Partnership Fund:
This fund is maintained by the Kerala Bank, which is an Apex Society, which receive fund from State Government under Sec 43 of KCS Act in order to ensure State Partnership in Co-operative Societies.
Accordingly the Kerala Bank shall maintain such a fund as per Section 44 of the Act with the money received from the State Government for the following purpose.
for direct purchase of shares in the affiliated society
to repay any due to the government
Appointment of Apex Societies and DCB transferred to PSC : 25-4-1995
Kerala State Co-operative Bank acts as a central balancing Centre to absorb surplus funds of PACS, Urban Co-operative Banks and other Co-operative institutions.
The Kerala State Co-operative bank is doing the business of banking within the frame work of rules / regulations / guidelines stipulated by