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The credit limit of multi-purpose primary rural cooperative society (B-Pax) will be increased from 10 lakh to 15 lakhs. So that farmers can get more financial assistance.
Lucknow: The credit limit of multi-purpose primary rural cooperative society (B-Pax) will be increased from 10 lakh to 15 lakhs. So that farmers can get more financial assistance. Cooperative bank will also start in Balrampur district. This announcement was made by Chief Minister Yogi Adityanath at the 61st annual meeting of UP cooperative banks held at Indira Gandhi Foundation. Yogi described cooperatives as a strong foundation for the state’s economy.
He said that cooperative banks are the backbone of economic progress of farmers, young entrepreneurs and MSMEs. CM Yogi called upon the cooperative banks to add more and more to young entrepreneurs with them. He informed that more than 32 thousand youths have been added under the CM Yuva Udyami Yojana. Cooperative banks should also contribute to their economic progress by adding beneficiaries to this scheme.
Expressing satisfaction with the progress of cooperative banks, Yogi said that in 2017, the CD ratio of Uttar Pradesh cooperative banks was 44 percent, which has currently increased to 61 percent. Also, the net profit of these banks has reached 100 crores. This is the result of the government’s transparent policies and better management. CM Yogi said that cooperatives in the previous governments had become the hub of personal selfishness. The farmers were upset with this and the licenses of 16 banks were confiscated, but Prime Minister Narendra Modi gave a new life to cooperatives and established a separate ministry for this. Today, 49 out of 50 cooperative banks are in profit.
Strict ban on black marketing, farmers will get fertilizer at reasonable prices
He informed that through multi-purpose primary rural cooperative society (B PACS) and cooperatives, the needs of fertilizer will be met and will strictly ban black marketing. With this, farmers will get fertilizer at reasonable prices and supply will be smooth.
The Chief Minister said that the expansion and strengthening of cooperative banks will give new pace to the state’s economy. Small units are the foundation of any economy and cooperative is the most effective medium to strengthen them. We have to increase our reach to farmers, youth, women and last person of society through cooperatives. Parliamentary Affairs Minister Suresh Kumar Khanna, Minister of State for Cooperation Independent Charge JPS Rathore and other senior officials and representatives of cooperative banks were present in the meeting.
Also read: Yogi’s warning to the officers with poor performance, said- not received promotion and posting, revenue collection should be completed
- Dheeraj Tripathi’s report from Lucknow
