Kerala chief minister Pinarayi Vijayan had expressed strong displeasure with the central government on Wednesday after Narendra Modi refused to meet an all-party delegation from the state. Photo: Ramesh Pathania/MintBengaluru : Kerala chief minister Pinarayi Vijayan on Thursday wrote a letter to Prime Minister Narendra Modi requesting immediate action to resolve the crisis faced by cooperative banks. The chief minister has asked that post demonetisation currency withdrawal at cooperative banks be put on par with commercial banks at Rs24,000 per week. The state assembly on Tuesday adopted a resolution to relax the curbs on cooperative banks and credit societies following demonetisation. With an estimated deposit base of Rs1.27 trillion and loans of Rs1 trillion in those banks in Kerala, cooperative banks are a key source of agricultural credit, especially for small and marginal farmers.

Source: Mint November 24, 2016 18:09 UTC