The government will form a consolidated fund of ₹500 crore for cooperative banks and registered primary agricultural credit cooperatives, Minister for Cooperation V.N. Vasavan said here on Friday.
Addressing a press conference here, Mr. Vasavan said the proposed consolidated fund was part of the government interventions designed to resolve the crisis faced by some of the institutions.
In a bid to widen the safety net for depositors, the norms of the Kerala Cooperative Deposit Guarantee Fund Board would be amended to raise the deposit guarantee limit from the present ₹2 lakh to ₹5 lakh.
