The 61st Annual General Meeting (AGM) of Himachal Pradesh State Cooperative Bank (HPSCB) was held successfully in Shimla, with 107 representatives of cooperative societies across the state, along with members of the Bank’s Board of Directors and Managing Director Vinay Singh, IAS, in attendance.
The AGM was inaugurated by Bank Chairman Devendra Shyam, who highlighted the Bank’s financial performance and key initiatives during the financial year 2025-26. He credited the continued guidance and support of Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu for the Bank’s growth.
The Bank reported a total business of Rs 29,315 crore, comprising deposits of Rs 17,448 crore and loans and advances of Rs 11,868 crore.
The Bank also recorded an improvement in asset quality, with Gross NPA declining to 2.86% and Net NPA to 0.86%. Under its One-Time Settlement (OTS) scheme, the Bank recovered Rs 17.78 crore from 213 customers during 2025-26.
On the technology front, HPSCB successfully migrated its Core Banking Solution (CBS) to Finacle 10.2.25 and launched an upgraded version of its mobile banking application HimPesa, aimed at providing customers with more convenient and secure digital banking services.
The Chairman also highlighted the Bank’s flagship initiatives, including ‘Sapnon Ka Sanchay’ and ‘Sashakt Mahila Rin Yojana’, which have benefited thousands of customers. He urged cooperative representatives to take these schemes to rural and remote areas.
Managing Director Vinay Singh presented the Bank’s financial facts and figures and called for suggestions from representatives to further strengthen the Bank.
He said HPSCB is working to expand banking outlets in areas that remain underserved and is also promoting the computerisation of Primary Cooperative Societies (PACS) to improve transparency and efficiency.
The Bank is also conducting financial awareness programmes through Financial Literacy Centres (FLCs) and deploying mobile ATM vans across districts to provide doorstep cash withdrawal facilities in rural and remote areas. These initiatives also focus on creating awareness about cyber fraud and preventive measures.
HPSCB has further initiated the modernisation of its branches to improve customer services and provide better facilities.
The AGM concluded with the Bank’s leadership reaffirming its commitment to strengthening the cooperative movement and taking banking services and cooperative schemes to the grassroots level.
