Uttar Pradesh has witnessed a significant revival in the cooperative and MSME sectors since 2017, driven by clear policy intent and sustained reforms, Chief Minister Yogi Adityanath said in Lucknow, media reports say.
Recalling the pre-2017 period, he said the state faced a lack of development and employment, while the cooperative sector was in disarray, with 16 district cooperative banks declared defaulters by the Reserve Bank of India. He noted that 15 of these banks have since returned to profit, with efforts underway to revive the remaining one.
Addressing a state credit seminar, Adityanath said Primary Agriculture Credit Societies have been strengthened through higher turnover, enhanced credit limits and involvement in fertiliser distribution.
He added that cooperatives have re-emerged as a mass movement, while MSME reforms, including the One District One Product initiative and insurance cover of up to ?5 lakh, have curbed migration and revived local enterprise.