CHANDIGARH, In a bid to strengthen the cooperative movement in the state the Punjab Government would soon evolve a comprehensive plan to make all the Cooperative societies across the state financially more viable and sustainable.
A direction to this effect was given by the Punjab Chief Minister Mr. Parkash Singh Badal while presiding over a high-level review meeting of the Cooperative Department here at his residence late last evening. He directed the officers of the department to work out a strategy for bringing out, all the 1040 loss making cooperative societies out of the total 3533 in the state, from this financial mess by initiating a vigorous campaign, intensifying business activities, clubbing them with other profit making societies in the form of clusters.
Expressing concern over the Agricultural stagnation in the state Mr. Badal said that these cooperative societies could also play a vanguard role in promoting other allied businesses for the peasantry. He further said that it was the need of the hour to reduce the crop input costs for which the state government had established Agro- Centers across the state from where Farmers could get agricultural implements on hire basis instead of purchasing on their own.
100 ATMs to be installed in cooperative banks across the state
With the concerted efforts of the cooperative department 3 DCCBs which were in losses till 31.03.2012 have been brought in profit this year i.e. 31.03.2013 and now PSCB and all the 20 DCCBs are in profit as on 31.3.2013. The net profit of PSCB is Rs. 18.91 crore and total of DCCBs Rs. 36.84 crore (Total Rs. 55.75 crore). The Chief Minister also give approval to revise the Sehkari Bank Bima Yojna (SBBY) Scheme for the account holders to cover Personal Accident Risk. Presently under the existing SBBY Scheme the account holders with minimum balance of Rs. 1500/- in their accounts has a personal accident risk cover of Rs. 1.00 lac but now under revised SBBY the account holders would have an option of having Personal Accident Risk Cover of Rs. 3.00 lac (for a minimum balance of Rs.3000/-) and Rs. 5.00 lac (for a minimum balance of Rs. 5000/- in their accounts). It was also informed in the meeting that State Cooperative Bank had also become a member of Aadhaar Payment Bridge System (APBS). Road Map has been prepared for the installation of 100 ATMs and sites have also been identified.