In a major push to strengthen agricultural credit in Punjab, Chairman Punjab Agriculture Development Bank, Pawan Kumar Tinu, today launched a loan disbursal programme by handing over cheques worth Rs. One crore to 24 farmers from various districts. The event was held at the Agriculture Staff Training Institute and marked the official relaunch of the bank’s long-halted loan facility.
Addressing the gathering, Tinu said it was a “matter of pride” that the pro-farmer institution had resumed operations after years of stagnation.He said the Punjab Cooperative Agricultural Development Bank, which had been offering simple-interest loans since 1957, saw its services paused due to “ignorance of previous governments.”
The Chairman highlighted that the revival became possible only after the Punjab Government, led by Chief Minister Bhagwant Singh Mann, infused over Rs. 900 crore in 2022, giving the bank “a new lease of life.” Accompanied by District Planning Committee Chairman Amritpal Singh, Chairman Jalamdhar Improvement Trust Ramneek Singh Randhawa, Mr. Tinu distributed cheques to beneficiaries from across various districts.
He also said that the bank will offer loans under various sectors including farming, non-farmimg, education and its employees. He emphasised that the relaunched loan facility would significantly support farmers, enabling them to access credit at some of the lowest interest rates compared to the broader banking sector.
Expressing gratitude to the Chief Minister, Mr. Tinu said the government had consistently prioritised farmer welfare, citing the recent rapid disbursement of crop-loss compensation as another milestone. He added that the renewed credit initiative would help empower Punjab’s agricultural community and boost rural economic growth.
Managing Director, SADB Barjinder Kaur Bajwa, AMD Rajvinder Randhawa, GM Amandeep Singh, Preet Mohinder Singh, DGM Rajnish Bansal, Sunil Mahajan, Regional Officer Harpreet Singh Cheema, Joint Registrar Umesh Verma, Deputy Registrar Gurwinderjit Singh, Senior AAP Leaders Gurcharan Singh Channi, Atam Parkash Bablu, along with other dignitaries were present on the occasion.