A glittering function was organized in the presence of Uttar Pradesh State Cooperation Minister JPS Rathore to honour the newly elected Chairman of District Central Cooperative Banks on Wednesday at Indira Gandhi Auditorium, Lucknow.
Talking to media persons Rathore said, “Uttar Pradesh cooperatives are working to achieve the Prime Minister’s vision of ‘Sahakar Se Samriddhi’. PACCs are becoming vibrant and viable with the new initiatives of the Ministry of Cooperation and can do different types of business”.
The event also coincided with the Uttar Pradesh State Cooperative Bank organizing a state level ‘Cooperative Workshop, inaugurated by Rathore. The UP State Cooperative Bank Chairman Teejveer Singh, Nabard CGM Sanjay Kumar, Principal Secretary Cooperation BL Meena, UP State Cooperative Bank MD RK Kulshrestha and others attended the workshop. On this occasion, Rathore felicitated the newly elected Chairman of District Central Cooperative Banks of the State.
Addressing the gathering, Rathore said, “About 60 percent of the country’s population lives in rural areas, which are dependent mostly on agriculture. The cooperative movement is working to strengthen the agriculture and rural economy”, he underlined.
He further added, “Uttar Pradesh cooperatives are working to achieve the Prime Minister’s vision of ‘Sahakar Se Samriddhi’. PACCs are becoming vibrant and viable with the-new initiatives of the Ministry of Cooperation and can do different types of business”.
“Uttar Pradesh State Cooperative Bank is on the growth path. The bank has 40 branches in different parts of UP and all are in profit. There are 50 district central cooperative banks in UP with a network of 1260 branches. Only five DCCBs are running in losses and our planning is to get them out of the red in the period of one year”, Rathore said.
He further said, “UP Sahkari Gram Vikas Bank, which was running in losses for many years, has now earned a profit of Rs 100 crore as on 31st March 2023”.
In his speech, Principal Secretary Cooperative BL Meena asked the cooperators to read the guidelines issued by NABARD and RBI from time to time. The cooperative sector has an important contribution to the country’s GDP, there is a need to increase it further, he said.
UP State Cooperative Bank Managing Director RK Kulshrestha informed about the various initiatives of the cooperative department. The State Marketing Manager IFFCO informed about the IFFCO Nano Urea and Nano DAP and its benefits on the farmers crop.
The Financial Advisor PK Agarwal gave a presentation on the changes in the banking scenario. It was told in the workshop that the majority of PACCs have adopted the new model bye-laws which aim at doing multi-purpose businesses.
