Jalandhar’s co-operative banks: Icons of peasant struggles and British-era reforms

Amidst the fervent peasant movements of the 1920s and 1930s in Doaba, Jalandhar emerged as a significant epicenter for the agrarian struggle in pre-Independence India. It was during this period of unrest that the establishment of co-operative banks in the region marked a pivotal moment in the quest for agricultural reforms—reforms which were driven by the very struggles of the farmers.

Advertisement

The co-operative bank buildings in Jalandhar stand not only as financial institutions but as lasting symbols of the efforts and ideologies of the peasant leaders who fought for market reforms, fair pricing, and control over oppressive debt cycles.

These movements, driven by figures like Sir Chhotu Ram, led to vital legislative changes, including the Restitution of Mortgage Lands Bill, the Land Alienation Act, the Registration of Moneylenders Bill, and the Agricultural Produce Markets Bill.

The Jalandhar Central Co-operative Bank Ltd., which today operates with 72 branches across the district, was founded in 1924. Its original building, still standing proudly near Company Bagh Chowk, serves as a testament to the era. Initially operating out of a rental space, the bank’s headquarters was established in 1924, marking a critical step forward for the region’s farmers.

Anil Kumar, the branch manager of the Jalandhar Central Co-operative Bank, shared, “The bank was registered in 1909, and its building was set up in 1924. Though the headquarters shifted in 1987, we still maintain the original building’s exterior as a heritage site.” Today, the branch serves over 200 farmers.

A plaque at the bank’s entrance commemorates its inauguration on August 15, 1924, by C.A.H. Townsend Esq., the then Commissioner of Jalandhar. Another plaque honors Khan Ahmed Shah, the first president of the bank, whose leadership was integral to its founding.

The legacy of these co-operative banks extends beyond Jalandhar. The Madara branch of the Jalandhar Central Co-operative Bank, for instance, was inaugurated on January 7, 1939, by the Financial Commissioner of the state, M.L. Darling. Another branch, opened at Goraya in 1936-37, saw opposition from peasants, including Communist leader Harkishen Singh Surjit. Surjit later recounted his protest against Sir Chhotu Ram, during which the latter famously confronted a crowd of protesters with the slogan “Inquilab Zindabad.”

Historian Chiranji Lal Kangniwal, a scholar of the Ghadarite and Freedom Movements, noted, “These buildings, from Dhogri to Goraya and Madara, are not just banks but monuments to a time when the peasants demanded change. These magnificent structures were an outcome of the agrarian protests, when rural areas, otherwise neglected, began to see the establishment of such institutions.”

Kangniwal added, “These banks were born out of a system that failed the farmers, but they became symbols of empowerment. Today, they stand as silent witnesses to a glorious chapter in Jalandhar’s history.”

As the city moves forward, these co-operative banks remain important markers of the struggle for agricultural justice in the region, providing a bridge between Jalandhar’s storied past and its ongoing agricultural legacy.