The North News
Chandigarh, July 22
Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema has praised the National Bank for Agriculture and Rural Development (NABARD) for its significant contributions to the state’s agricultural and rural development. Speaking at a function to mark NABARD’s 44th Foundation Day on Tuesday, Mr Cheema highlighted the bank’s role in providing low-interest loans to cooperative banks and societies, which in turn offer affordable credit to farmers across the state.
“NABARD has been instrumental in empowering farmers and strengthening the cooperative banking network in Punjab,” he said.
The minister drew attention to the importance of Multi-Purpose Cooperative Agricultural Service Societies (MPCASS), describing them as a key element in Punjab’s agrarian progress. As an example of success within the cooperative sector, representatives from Lambra Kangri MPCASS Ltd., Hoshiarpur – established in 1920 – were invited to share their story.
Cheema also addressed the state of Punjab’s Primary Agricultural Credit Societies (PACS), noting that out of roughly 3,500 societies, about 1,800 are currently profitable. He urged farmers to focus on revitalising underperforming PACS, saying that Punjab’s historic leadership in agricultural innovation should extend to strengthening grassroots financial institutions.
Several cooperative societies and institutions were recognised at the event for their outstanding performance in various categories. Among the awardees were MPCASS from Moga, Ludhiana, Hoshiarpur, Bathinda, Jalandhar, SBS Nagar, and Sangrur. Notably, The Sukhanand MPCASS Ltd., Moga, received recognition in two categories: for non-credit services and for adoption of Ministry of Cooperation (MoC) initiatives.
The Kapurthala, Jalandhar, and Muktsar District Central Cooperative Banks (DCCBs), the Punjab State Cooperative Bank (PStCB), and producer companies from Sangrur were also honoured.
The event was attended by senior officials including RBI Regional Director Vivek Srivastava, NABARD Punjab CGM VK Arya, NABARD Haryana CGM Nivedita Tiwari, PSCB Chairman Jagdev Singh, and Managing Director Harjeet Singh Sandhu.
