Proposed Kerala Bank to be full fledged bank and not NBFC

Q.  Proposed Kerala Bank will function as a __________.
- Published on 15 Jul 16

a. NBFC
b. Full fledged bank
c. Payments bank
d. None of the above

ANSWER: NBFC
 
Proposed Kerala Bank, an ambitious project by CPI(M) - LDF government will function as a full fledged bank and not a non-banking financial institution.
  • Proposed bank has great potential in view of the merger of the State Bank of Travancore with SBI.
  • Kerala FM has allocated INR 10 lakh to set up a committee to prepare directions and recommendations in this regard.

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