Kerala plans full deposit guarantee for cooperative sector
In short
Kerala plans to give full deposit protection for the cooperative sector, Chief Minister Pinarayi Vijayan said.
Right now, the ₹5 lakh guarantee applies only after a cooperative bank is liquidated.
What the reporting says
Kerala plans a full deposit guarantee for the cooperative sector, Chief Minister Pinarayi Vijayan said. The move comes as the current ₹5 lakh guarantee is available only after a cooperative bank goes into liquidation.
Why it matters
Kerala is planning a full deposit guarantee for the cooperative sector, according to Chief Minister Pinarayi Vijayan. The proposal could affect cooperative banks and savers in the state if it is implemented.