CM: Simplify loan process for horticulturists

Tribune News Service

Shimla, October 27

Loaning procedure for horticulturalists should be simplified and made liberal whether they take loan for cultivation, machinery or for irrigational purpose, said Chief Minister Virbhadra Singh while addressing the 379th meeting of the Board of Directors of the HP State Co-operative Bank here today.

The bank was playing a pivotal role in the development of the state by providing banking services, especially to farmers and horticulturists, he said while expressing happiness over the fact that the bank was expanding its network in rural areas which was essential to facilitate the rural masses.

A horticultural sectoral document of NABARD ‘Status and Report’ was also released. Chairman HP State Co-operative Bank Harsh Mahajan along with Board of Directors presented a cheque of Rs. 51 lakh to the Chief Minister towards CM Relief Fund and also a dividend cheque of Rs 7.2 lakh as payable to the government for the financial period 2014-15.

Mahajan apprised that the bank was in the process of opening 21 new branches and two extension counters in the state. He said the bank had been granted ‘A’ supervisory rating by NABARD and the profits of the bank had increased significantly in last few years due to expansion of branch network and all kinds of modern banking services.