Punjab State Cooperative Agriculture Development Bank Chairman Suresh Goyal is working hard to strengthen the bank, which is at present running in losses.
Goyal, who is also the newly elected Vice-Chairman of NAFCARD’s and who had taken charge as Chairman of PSCADB a few months back, said, “We are working to come out of losses. Under my leadership, we have expedited the recovery process and with the efforts of the team we recovered more than Rs 25 crore in comparison to previous year”.
“In 2021-22, we recovered Rs 194 crore whereas till date we have recovered around Rs 220 crore. There are 89 branches, out of which 49 branches are okay. And, on a temporary basis, we deployed a few staff members in 40 branches for recovery of loans. ”, Goyal added.
Lauding the efforts of Punjab Chief Minister Bhagwant Maan, he said, “Rs 885 crore was provided to Punjab State Cooperative Agricultural Development Bank (PSCADB) to pay back its NABARD loan and clear terminal benefits of its pensioners, which were stopped in 2013.”
It bears recall that the Nafcard MD K K Ravindran recently visited the headquarters of Punjab SCARDB and interacted with Chairman Punjab SCARDB CA Suresh Kumar Goyal & senior officers of the Bank about formulation of business development plan of the Bank for the next five years and the ongoing initiatives of revival for the ARDB sector at the national level.