Himachal Pradesh CM Sukhu inaugurates 22 new branches of HPSCB

Chief Minister Sukhvinder Singh Sukhu, through virtual means, inaugurated 22 additional branches of the Himachal Pradesh State Cooperative Bank (HPSCB) on Wednesday. As per an official statement from the Chief Minister’s Office (CMO), “CM Sukhu introduced two novel schemes, namely the ‘One-Time Resolution Scheme’ and a Loan Scheme aimed at fostering the development of high-density apple orchards.”

Additionally, the Chief Minister launched an online portal for the recruitment of 232 clerical positions within the bank, the statement noted. The newly opened branches encompass locations such as Samarkot, Jharag/Nakradi, Parala, Dhamandri, Mehandli, Jarol, Janeharghat, Upper Kaithu, Khatnol, Nihri, Chai Kadora, Syanj, Bharari, Mandap, Dhar-Tottoh, Lohat, Awah, Chhatradi, Halah, Haripurdhar, Timbi, and Chango.

Detailing the ‘One-Time Resolution Scheme,’ the Chief Minister emphasized its significance in providing an avenue for loan defaulters, whose accounts were declared non-performing assets (NPAs) by the bank as of December 31, 2023, to settle their outstanding dues through a single payment.

Furthermore, under the ‘Loan Scheme,’ apple orchardists are entitled to loans up to Rs 8 lakh per bigha, with a maximum limit of Rs 50 lakh, aimed at promoting modern technology adoption in high-density apple cultivation and the introduction of new varieties.

CM Sukhu underscored the pivotal role played by HPSCB in the state’s development, citing successful outcomes from initiatives like the ‘Sapno Ka Sanchay-Deposit Linked Savings Scheme’ and the ‘Sashakt Mahila Loan Scheme.’ He highlighted that over Rs 35 crore in loans have been disbursed to 16,836 women under the latter scheme.

Expressing appreciation for the Chief Minister’s support, Devender Shyam, Chairman of the State Cooperative Bank, remarked that the expanded branch network would facilitate accessibility to banking services for all segments of society. He emphasized the potential of the one-time settlement scheme to bolster the financial standing of loan defaulters, noting an additional interest rebate of 0.5 per cent as an incentive for settling debts.

The event witnessed the presence of Revenue Minister Jagat Singh Negi, Chief Parliamentary Secretary Mohan Lal Brakta, MLAs Harish Janaratha, Malender Rajan, and Neeraj Nayyar, along with DC Anupam Kashyap, SP Sanjeev Kumar Gandhi, Managing Director of HPSCB Shravan Manta, and other senior bank officials.