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Himachal CM Sukhvinder Sukhu sets six-month target for pushing cooperative bank reforms
Himachal chief minister Sukhvinder Singh Sukhu was speaking at the Spark 2023, an event organised by the Himachal Pradesh State Co-operative Bank Limited in Shimla
Chief minister Sukhvinder Singh Sukhu on Sunday said the state government would strengthen the cooperative banks by providing all possible assistance and assured reforms within six months.
Sukhu was speaking at the Spark 2023, an event organised by the Himachal Pradesh State Co-operative Bank Limited (HPSCB).
The CM unveiled the bank’s new logo, besides launching an internet banking facility, Academy for Agriculture Entrepreneurship Development for Growth and Empowerment (Aagri EDGE) and a new website. He released the bank’s vision document during the event and conferred prizes on the best performing branch offices of the bank.
Cooperative banks will also be given permissions under Section-118 of the Himachal Pradesh Tenancy and Land Reforms Act, 1972, and land purchase be prioritised for cooperative banks.
Sukhu said the first budget of the present government symbolises the system revamp, in which efforts have been made to strengthen the rural economy, adding that the HPSCB should ensure its active participation in the implementation of these initiatives. The state government is formulating a scheme to provide loans up to ₹20 lakh at the rate of 1% interest to poor students for higher education.
EV, solar push
Besides, taxi operators will be issued permits to run e-taxi in the coming time and provided a 50% subsidy on the purchase of e-taxi, e-bus and e-truck. The state government will provide 40% financial assistance to set up solar power projects ranging from 250 kW to 2 MW and the electricity generated would be purchased by the Himachal Pradesh Electricity Board Limited.
Sukhu said cooperative banks should liberally provide loans under such schemes, whose guarantee would be provided by the state government.
The CM said the present government has inherited a huge debt, but the state government is working towards making the state self-reliant and increasing financial resources. He said 90% of the population lives in villages and efforts are being made to strengthen the economic condition of the rural population. A scheme is being mulled to purchase cow milk at the rate of ₹80 per litre and buffalo milk at ₹100 per litre from farmers to support the agriculture sector.
Deputy Chief Minister, Mukesh Agnihotri, who also holds the portfolio of co-operation department, highlighted the significance of the cooperative movement in Himachal Pradesh, which has gained recognition nationwide. He emphasised that cooperative banks serve as the backbone of the state’s economy.
He assured that the state government is taking corrective measures to transform cooperatives into a new mass movement. Agnihotri urged officers to work with the bank’s reputation in mind.
