Kerala boasts of a well-developed banking infrastructure. With progressing time Kerala banking system has attained a high benchmark. Commercial, Nationalized a large number of Grameen banks have sprung up within the state. In fact there was a surge of Banks in the state following the nationalisation of the banks in 1969.
The State Bank of India (S.B.I.), Canara Bank and Syndicate Bank are the principal nationalized banks. The State Bank of India offers around 228 branches and the Syndicate Bank has 115 branches in the fourteen districts of Kerala.
Apart from these commercial banks like Vijaya Bank, Dhanlakshmi Bank and the Federal Bank also offer commendable finance and banking facilities. Dhanalakshmi Bank offers 112 branches in the state. The Grameen Banks like SMGB and NMGB provide loans at low interest rates, special, subsidized lands and relief facilities to the local farmers and plays a great role in enhancing the agrarian productivity of the state.
According to a survey conducted in the year 2001, there were-
All these banks altogether had 3813 branches in the rural as well as the urban areas and among them 2956 branches belonged to the Commercial Banks.
Besides, there are also 1593 Primary Agriculture Credits Co-operatives in Kerala.
The commercial banks of Kerala have also witnessed an increased flow of non-resident deposits toward the end of 2005. Kerala is done experiencing better growth of economy in the banking sector.
Besides the banks, the other financial institutions which give a boost to the economy of Kerala are-
Government Institutions
Private Institutions
