Kerala Bank

MV Suresh, the first of severa persons to have filed complaints alleging fraud at the CPI(M)-controlled Karuvannur cooperative bank in Thrissur district, appeared before the ED on Monday

Chief Minister Pinarayi Vijayan also tweeted that the state's own bank would commence soon.

The bank is expected to see a merger of around 823 branches of 14 district cooperative banks and the State Cooperative Bank

New bank expected to help agriculture, traditional works and self-employment sectors

The government also claims that it was able to reduce the gross losses for the Kerala State Cooperative Bank in the state by 50 per cent during the past two years