The Himachal Pradesh State Co-operative Bank will open four new branches and nine extension counters of the Bank in the State during current financial year.
This was stated in the Board of Directors meeting of HP State Co-operative Bank presided over by Chief Minister Virbhadra Singh on Monday.
The Chief Minister stressed for opening more branches in the far-flung areas of the State for expansion of its business and benefiting the rural population. He congratulated the Bank for recovering the Non-Performing Accounts (NPA) amounting to Rs21 crore from the defaulters in the last two months, adding that it was for the first time that the NPA of the bank had gone below 10 percent i.e., 9.6 per cent at
present.
The Chief Minister asked the bank to provide door step services through business correspondence, mobile vans and branch networks to its consumers. He also appreciated the efforts of the bank for incorporating a new scheme namely ‘loan Against Property’ in Banks loan portfolio and also for implementing the Direct Benefit Transfer (DBT) Scheme.
He said that the bank intends to open new branches at 12 new places for which the licences had been obtained from the Reserve Bank of India. The bank will open full fledged branches at Gothai in Bilaspur, Gatadhar in Sirmaur, Rajnagar in Chamba and Mandal in Shimla. Besides the extension counters will be opened at Kudu, Matiana and Kamlanagar in Shimla district, Nanawan and Kothipura in Bilaspur district, Bir Road, Ahju and Ropri in Mandi district and Obri and Sarol in Chamba district respectively.
Apart from this, proposals for opening 20 branches and extension counters in rural and remote areas has been sent to RBI for granting licences which will soon get the approval to set up the branches in next fiscal.
He said that in the quarter ending September 30, 2014 the operational
profit of the bank was to the tune of Rs107.19 crore and authorised capital to the tune of Rs10 crore.