Himachal CM stresses on simplifying loaning procedure to benefit horticulturists

Shimla, October 27, 2016: Chief Minister Shri Virbhadra Singh while addressing the 379th meeting of the Board of Directors of the HP State Co-operative Bank here today said that loaning procedure for horticulturalists should be quite liberal whether they were taking loans for cultivation, machinery or for irrigational purpose. He said the process should be simplified and the norms be made liberal so as to benefit them.
He said the bank was playing a pivotal role in the development of state by providing banking services especially to the farmers and horticulturists. He commended the progress and growth of the bank and adopting latest IT services. He expressed happiness that the bank was expanding its network in rural areas which was more essential to facilitate the rural masses.
He also released a horticultural sectoral document of NABARD ‘Status and Report’.
Chairman HP State co-operative Bank Shri Harsh Mahajan along-with Board of Directors presented a cheque of Rs. 51,00,000 to the Chief Minister towards CM Relief Fund and also a dividend cheque of Rs 7,21,920 as payable to the government for the financial period 2014-15.
Shri Mahajan expressed his gratitude for unflinching support, and guidance provided by the Chief Minister to the bank. He apprised that the bank was in the process of opening 21 new branches and two extension counters in the State. He said that the bank had been granted ‘A’ supervisory rating by NABARD and the profits of the bank had increased significantly in last few years due to expansion of branch network and all kinds of modern banking services. The Bank had taken significant strides in reducing its NPAs from 11.20% during 2012-13 to 5.74% as on 30.9.2016.
Managing Director Shri Gopal Sharma gave a power point presentation and briefed about overall performance of the bank.
Chief Secretary Shri VC Pharka,Vice-Chairman Cooperative bank Shri Pitamber Dass Negi, Members of BoD Shri Keshav Naik, Shri Dinesh Kumar Sharma Shri Bharat Bhushan, Shri Ram Singh Chambial, Shri Subhash Chand Sharma, Shri Naresh Chauhan, Pt. Shiv Lal, Shri T. S. Rana, Shri Gaurja Sharma, Shri Ajit Paul Mahajan, Shri Diwan Sharma, Shri Iqbal Mohammad, Shri Bahadur Singh Thakur, Shri Mohan Mehta were also present amongst other officers of the bank and NABARD.