Question

State the correct answer from the following statements regarding Kerala Bank.

1. The bank was registered in the year 1915 as the Kerala State Co-operative Bank.

2. Kerala State Co-operative Bank Ltd. was included in the 2nd Schedule of the Reserve Bank of India Act, 1934.

3. Bank name of Kerala State Co-operative Bank as 'Kerala Bank'.

• A. All are correct
• B. All are correct Except I
• C. All are correct Except II
• D. All are correct Except III

Answer 1

Answer:

B. All are correct Except I

Yes, the Kerala State Co-operative Bank Ltd. was included in the 2nd Schedule of the Reserve Bank of India Act, 1934 in July 1966. This made it the first Scheduled Apex Co-operative Bank in India. 

The Kerala State Co-operative Bank is now known as Kerala Bank. It was formed in 2019 by merging 13 District Cooperative Banks with the State Cooperative Bank. The bank operates within the guidelines of the Reserve Bank of India and the National Bank for Agricultural and Rural Development (NABARD).