Thrissur: Considering the suggestion of the nine-member panel constituted to study about Karuvannur bank scam, the government has decided to amend cooperative sector laws. With this, professional directors will be appointed in all cooperative banks in Kerala. Notably, all banks under RBI are supposed to have professional directors.
At present professional directors are only appointed at urban cooperative banks and district cooperative banks. Those individuals qualified in financial and IT related matters are appointed as professional directors. Two professional directors will be appointed under each administrative committee.
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