Uttar Pradesh Cooperative Bank held its 61st Annual General Meeting (AGM) in Lucknow, with Chief Minister Yogi Adityanath as the chief guest. During the event, the bank announced a Rs 75.68 crore dividend distribution to stakeholders, marking a key financial achievement.
In a significant move on the occasion, CM Yogi Adityanath declared the establishment of a new District Cooperative Bank in Balrampur to strengthen the state’s cooperative banking network. He also announced an increase in the interest-free loan limit for PACS (Primary Agricultural Credit Societies) from Rs 10 lakh to Rs 15 lakh, offering greater financial support to farmers and small entrepreneurs.
Reaffirming the government’s commitment to youth entrepreneurship, loan cheques were distributed to six beneficiaries under the Mukhyamantri Yuva Udyami Vikas Yojana, which provides Rs 5 lakh collateral-free, interest-free loans to young entrepreneurs. The CM highlighted that over 32,000 youth have already benefited from this initiative, boosting self-employment.
CM Yogi Adityanath praised the UP Cooperative Bank’s strong performance, noting its CD ratio exceeding 70%, which reflects farmers’ and workers’ trust in the institution. He emphasized that cooperation fosters teamwork and economic empowerment.
Finance Minister Suresh Kumar Khanna commended the bank’s role in rural banking and financial inclusion, while Minister of Cooperation J.P.S. Rathore highlighted the bank’s zero net NPA and profitability across all 40 branches.
Managing Director R.K. Kulshreshtha discussed the bank’s digital transformation, including the adoption of mobile and internet banking services to enhance customer convenience.
The event was attended by Principal Secretary (Cooperation) Sorabh Babu, Commissioner & Registrar (Cooperation) Anil Kumar Singh (IAS), RBI Regional Director Pankaj Kumar, UP Cooperative Bank Chairman Jitendra Bahadur Singh, Vice-Chairman Manish Sahni, senior NABARD officials, cooperative representatives, and bank directors.
Concluding the event, Chairman Jitendra Bahadur Singh thanked all dignitaries and participants for their support.
With strong financial growth, digital banking advancements, and government-backed initiatives, UP Cooperative Bank continues to drive cooperative banking success in Uttar Pradesh.
Very nice