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Himachal CM Sukhu Opens New HPSCB Branch, Boosts Cooperative Banking

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu inaugurated a new branch of the Himachal Pradesh State Cooperative Bank (HPSCB) in Kaithu, Shimla. He emphasized the bank's vital role in socio-economic development, particularly for farmers and rural entrepreneurs. The CM reiterated the government's commitment to strengthening cooperative institutions by directing state deposits to the HPSCB. On the occasion, the bank also contributed ₹2 crore to the Chief Minister's Relief Fund to aid disaster relief efforts.

Key Points: Himachal CM Inaugurates New HPSCB Branch in Kaithu

  • New branch strengthens cooperative network
  • Focus on financial inclusion & rural support
  • State deposits to be placed with HPSCB
  • Bank contributes ₹2 crore to CM Relief Fund
2 min read

Himachal CM Sukhu inaugurates new branch of HPSCB at Kaithu

CM Sukhvinder Singh Sukhu inaugurates a new HPSCB branch, reinforcing financial inclusion and cooperative banking strength in Himachal Pradesh.

"Cooperative banks play a vital role in the socio-economic development of Himachal Pradesh. - CM Sukhvinder Singh Sukhu"

Shimla, February 4

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Wednesday inaugurated the newly established branch of the Himachal Pradesh State Cooperative Bank at Kaithu, marking another significant step towards strengthening the cooperative banking network in the State.

The inauguration reflects the State Government's continued commitment to ensuring greater financial inclusion and accessible banking services for all sections of society.

He said that cooperative banks play a vital role in the socio-economic development of Himachal Pradesh, particularly in supporting farmers, small traders, self-help groups and rural entrepreneurs.

He reiterated that the State Government is fully committed to the growth and strengthening of cooperative institutions and emphasised that the State Government's deposits should be placed with the Himachal Pradesh State Cooperative Bank.

This would further enhance the financial strength and sustainability of the cooperative banking system in the State, he said.

CM Sukhu appreciated HPSCB's performance and lauded its efforts to extend modern, technology-driven banking services while maintaining its core objective of serving the general public. He expressed hope that the newly inaugurated Kaithu branch would effectively address the financial needs of the local population and contribute to regional economic development.

He said that HPSCB has been playing a key role in implementing various State Government schemes, such as the e-taxi scheme, thereby ensuring the timely delivery of financial benefits to the people.

On the occasion, the Himachal Pradesh State Cooperative Bank presented a cheque of Rs 2 crore towards the Chief Minister's Relief Fund. The Chief Minister expressed his gratitude to the bank for its generous contribution and stated that such support would go a long way toward assisting people in distress and responding effectively to natural calamities and other emergencies in the State.

Managing Director of HPSCB, Shravan Manta, highlighted the bank's achievements and briefed on its recent accomplishments. He informed that HPSCB has consistently strengthened its financial position, expanded its branch network and adopted digital banking solutions to enhance customer convenience.

MLA Harish Janartha, Mayor MC Shimla Surinder Chauhan, Registrar Cooperative Societies DC Negi and Chairman of the bank Devender Shyam, along with other dignitaries, were also present.

- ANI

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Reader Comments

S
Shreya B
Good to see focus on cooperative banks. They are the backbone of rural economy in Himachal. The Rs 2 crore donation to CM Relief Fund is also commendable. Hope this money is used transparently for genuine disaster relief and not lost in bureaucracy.
A
Aman W
Inaugurating a bank branch is fine, but the real test is in its functioning. Will it have proper staff? Will the digital services actually work in our hilly terrain? And will loans be processed without unnecessary 'speed money'? Action matters more than announcements.
P
Priyanka N
As someone from a self-help group, this is excellent news! Cooperative banks understand our needs better than nationalized banks. Hope this branch has a dedicated officer for SHGs and women entrepreneurs. Financial inclusion starts at the grassroots. 👍
D
David E
Interesting to see the emphasis on state deposits going to the cooperative bank. It's a smart way to strengthen local financial institutions. More states should follow this model to keep capital within the region for development.
V
Varun X
The mention of the e-taxi scheme is key. If banks are actively helping implement such govt schemes, it accelerates development. Need more such partnerships for tourism and apple farming too. HPSCB should create special products for these sectors.

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