CM lauds role of ARDB in developmental activities

5 Dariya News

Shimla 29-May-2015

Agriculture Rural Development Bank (ARDB) should adopt more professional approach and further diversify its activities and devise a mechanism under various lending schemes according to the need of the people besides offering other banking products to its customers under one roof.This was stated by Chief Minister Virbhadra Singh while presiding over the Seminar on Reforms in Long Term Cooperative Credit Structure (LTCCS) jointly organized by National Co-operative Agriculture & Rural Development Bank’s Federation Limited and HP State Co-operative Agriculture & Rural Development Bank Limited here today.

He said that for the first time the bank had earned Rs. 9.72 crores  during the year 2014-15 thereby wiping  out its entire losses and earning net profit of Rs. 4.27 crores for which Pandit  Shiv Lal, Chairman of the Bank, members of the Board of Directors its managing director and the entire staff deserve kudos.Himachal Pradesh has been a pioneer in the Co-operative movement in the country which were playing a significant role in development of rural economy in the State, he said. The State presently has about 4500 Co-operatives societies at different levels with a membership of over 14 lakh, which implies that every fifth person in the state is a member of some cooperative, added the Chief Minister.

The Chief Minister expressed happiness that the bank had diversified its lending activities and included floriculture, bee keeping, irrigation, dairy development, poultry, non-farm sector etc. and said that the bank should meet out the long term credit requirements of the farmers on priority. He said that the bank was playing an important role in the up-liftment of State’s economy by providing long term lending facilities for developmental activities, land development, minor irrigation farm mechanization, agriculture marketing, dairy, poultry, floriculture and other activities allied to agriculture under farm sector. The bank was also providing loan in non-farm sector viz: Small Scale Industries, Shopping Complex, Hotels, Guest Houses, dhabas, agri-clinic, agri-business centers, small Transportation etc, said the Chief Minister.HP State Cooperative Agriculture & Rural Development Bank is working at the Apex level in nine Districts of the State through its 33 branches with total membership of over 78000, said the Chief Minister, which was rather satisfactory.

Earlier, Pandit Shiv Lal, Chairman State Agriculture Rural Development Bank Ltd. welcomed the Chief Minister and detailed about the activities of the bank and the long term credit structure.   Shri Harsh Mahajan Chairman HP State Cooperative Bank also accompanied the Chief Minister. Shri O.P. Katoch, Chairman, Kangra Cooperative Primary Agriculture and Rural Development Bank,  Shri Jagdish Saphiya, Chairman, KCCB,  Shri K.K. Ravinderan, Managing Director, ARDB Federation,  Shri Yunus Khan, MD HP State Co-operative Bank,  Shri P.Radhakrishnan, Chief General Manager, NABARD,  Shri R. Selvam, Registrar Co-operative societies, Members of Board of Directors were also present on the occasion amongst others.