Himachal Pradesh State Cooperative Bank Launches New Schemes and Expands Presence!

Himachal Pradesh State Cooperative Bank Launches New Schemes and Expands Presence!

The Himachal Pradesh State Cooperative Bank (HPSCB) has taken significant steps towards financial inclusion and supporting the apple orchard industry in the state. In a virtual ceremony, Chief Minister Thakur Sukhvinder Singh Sukhu inaugurated 22 new branches of the bank, reaching out to more communities. Additionally, he launched two new schemes:

• One-Time Resolution Scheme: This scheme offers a chance for loan defaulters to settle their outstanding dues with a one-time payment. This can improve their financial standing and provide an opportunity for a fresh start. As an incentive, a 0.5% interest rebate is offered on the settled amount.
• Loan Scheme for Developing High-Density Apple Orchards: This scheme aims to promote modern technology and new varieties in apple cultivation. Orchardists can avail loans up to Rs. 8 lakh per bigha, with a maximum limit of Rs. 50 lakh. This financial assistance can empower farmers to adopt innovative practices and potentially increase their yield and income.

These initiatives, along with the bank’s existing successful programs like “Sapno Ka Sanchay-Deposit Linked Savings Scheme” and “Sashakt Mahila Loan Scheme,” demonstrate HPSCB’s commitment to serving all sections of society. The “Sashakt Mahila Loan Scheme” alone has empowered over 16,836 women by providing over Rs. 35 crore in loans, fostering financial independence and entrepreneurship.

The expansion of branches and launch of new schemes are positive developments for Himachal Pradesh. They hold the potential to improve financial access, support the agricultural sector, and empower various communities within the state.

(#HPSCB #Banking #HimachalPradesh)