51K women took over Rs 141 cr loan for business, says coop bank chief

Davender Shyam, chairman of the Himachal Pradesh State Cooperative Bank, urged societies to take initiative to create new employment opportunities at the local level by making full use of schemes offered by the bank and involving as many youths as possible. He presided over the district-level Cooperative Week celebration held at Sunni in Shimla.

He also shared information about various schemes being run by the bank and urged people to join the bank and take full advantage of these programmes. He said that to date, more than 51,000 women had established their own businesses by availing of over Rs 141 crore loans from the bank.

Discussing schemes offered to cooperative societies, he said the bank had always advocated the development of these societies. The bank has significantly reduced the interest rate on loans and limits provided to societies, bringing it from 9 per cent to 9.75 per cent.

“Additionally, the interest rate on fertiliser limits has been reduced from 8 per cent to 9 per cent Employees working in cooperative societies are also being provided appointments under the prescribed quota in the bank, and in this connection, the bank is going to start the recruitment process for 75 vacant posts under this quota,” he said.

The chairman also flagged off a rally organised by the local administration for drug prevention and awareness and presented prizes to the winning participants of a marathon organised during the event.