Kochi, Sep 27: Banks should be prepared to face emerging challenges when the sector is witnessing rapid strides in IT technology, Chief Minister Shri Pinarayi Vijayan said today.

Such readiness can enable the state’s startup ecosystem to turn professional threats, like online fraud, into opportunities, he said, inaugurating an IT Conclave organized by Kerala Bank.

Chief Minister lauded Kerala Bank  for its commendable growth in recent years. He advised the banks not to throw out anyone from their only home in the process of recovering loans; banks are free to initiate other steps for recovery.

Pinarayi Vijayan launched Micro ATM service, introduced  by  Kerala Bank with the help of NABARD at the event. This will bring banking services to customers’ doorsteps, enabling cash withdrawal up to  Rs. 10,000/- through business correspondents.

NABARD Chairman Shri. K,V, Shaji, who spoke on the occasion, said that the decreasing share of  agricultural loans out of the total credit portfolio of the banks are not a good sign. He asked  Kerala Bank authorities to be part of the  newly formed Sahakaar Bharati ( P) Ltd. This  will help the Bank to get more financial help from NABARD and Union Govt. He pointed out that Asset Reconstruction Company, which purchase bad loans from banks and to clear their balance sheet has made big change in the banking sector of the Country. Our banks, especially public sector banks are   performing very well thanks to ARC.

Others present  at the event were Industries, Coir and Law Minister Shri P. Rajeeve,Co-operative Minister Shri. V. N. Vasavan  and Kerala Bank President Shri Gopi Kottamurikkal.


Photo Caption : 

Chief Minister Pinarayi Vijayan inaugurating the IT Conclave organised by Kerala Bank at Kochi on Saturday. Kerala Bank Chairman Gopi Kottamurickal,  Kerala Bank CEO Jorty M. Chacko,  NABARD Chairman K.V. Shaji, Minister for Co-operation V.N. Vasavan, KSUM CEO Anoop Ambika  and Minister for Industries P. Rajeeve, among others are also seen