Himachal Pradesh State Cooperative Bank has been awarded the first prize for being the "best" cooperative bank in the country. A bank spokesman said Tuesday a distinguish jury constituted for the award selected the bank as the winner of the Inclusive Finance India Award, 2014 under the category of 'information technology and its implementation'.
"The inclusive finance India secretariat, which is supported by NABARD and GIZ (an international enterprise owned by the German federal government) has informed us about the award. The selection was based on the bank's "extraordinary growth and performance" and "effective governance and management," which had been introduced in the organizational ethos," the spokesman added.
The bank's chairman, Harsh Mahajan, received the award from NABARD chief general manager P Statish at the Inclusive Finance India Summit 2014 held in New Delhi on Tuesday. Speaking on the occasion, he said the award had been given to the bank on account of "setting a new milestone in information technology" in Himachal Pradesh.
"With the implementation of IT in the bank, its business had increased manifold. Besides motivating the bank's management and employees this award will also encourage them to discharge their responsibilities with sincerity," he added.
Mahajan said that during the past two year the bank had bagged five national awards in various categories for which cooperative banks had been awarded, including in the fields of "overall performance, computerization, good governance & management, best outreach and best performing training institute" in the country".