The Care Foundation was set up in 2009, by the Calicut City Service Cooperative Bank Ltd. The charitable society also has 15 members, including doctors, engineers and social activists and two Govt. Nominees. The bank has provided Rs 20 crore as loan for setting up the hospital. The bank is now seeking the approval of the Reserve Bank of India for seeking funds from abroad.
The bank had initially approached the cooperation department with the idea for the hospital, but the department refused consent, saying that the bylaws of the bank did not permit such a project. Later, the the representatives met the then Cooperation Minister G. Sudhakaran who, impressed with the idea, issued an order.
The charitable society would have an Additional Registrar of the Department of Cooperation and an Additional Director of the Department of Health Services on the governing body, they said. The bank had acquired 15.5 acres of land at a cost of Rs.6.25 crore. The office started functioning from June 1.
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