Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu launched the innovative ‘Sapno Ka Sanchay’ Deposit linked Loan scheme of State Cooperative Bank, in an event organized at the head office of the bank at Shimla on Friday.
The scheme is basically designed to attract young customers and provide them financial assistance for higher education or starting a startup or entrepreneurial activity. All students between 10 to 18 years of age could benefit from the scheme.
Soon after the launching of the scheme, Himachal Pradesh Chief Minister Sukhu lost no time in sharing details through social media. During the launch, the bank Chairman Devendra Shyam, Managing Director Sharwan Manta and others were present.
In his message, Shyam said, “The ‘Sapno ka Sanchay’ deposit scheme, a special offering designed to capture the imagination and aspirations of our youth. By engaging them at a young age, we aim to secure their trust and loyalty, ensuring that they continue to utilize our services as they transition through different life stages”.
“This scheme is not just a financial product; it’s a commitment to invest in the dreams and aspirations of our younger generation. It offers an opportunity to establish strong financial foundations for their future, whether they are pursuing higher education or stepping into the world of entrepreneurship”, the bank Chairman informed.
HP State Cooperative Bank Managing Director Sharwan Manta said, “Young customers are the bedrock of our institution’s longevity. They represent not just future banking relationships but also the promise of vibrant growth for our bank”.
“Our vision, our mission is encapsulated in this scheme. “Sapno ka Sanchay” is designed to encourage our young patrons, to start early and build a solid financial foundation for their dreams, be it education or entrepreneurship. We aim to be their trusted financial partner, walking with them in their journey to success”, he added.
Under the scheme, the applicants shall open a normal saving account in the bank and can earn the prevailing saving deposit interest. Besides, the loan facility will be available after completing a minimum of 5 years with a Sapno ka Sanchay scheme saving account. Minimum of Rs 25,000 to accrue in the Sapno ka Sanchay Term Deposit account at the time of the loan request. The beneficiaries can avail the loan five times of their deposits from the bank.
On various platforms, many cooperative leaders as well as leaders from several political parties have kept on raising their voice in the context of attracting youth towards the cooperative sector. The scheme launched by the bank can be a game changer especially for the youth in Himachal Pradesh, if it is successfully implemented.