A new data centre has been set up linking Primary Agricultural Cooperative Societies (PACS) across the state with District Cooperative Banks (DCBs) and UP Cooperative Bank. The data centre has been set up by the UP Cooperative Bank, and it will enable the bank to keep track of the real time data about financial performance of the DCBs and PACS.
The data centre was inaugurated by Minister of State for Cooperatives (independent charge) JPS Rathor here on Monday.
Along with the data centre, the minister also inaugurated the office of the cadre authority and Aadhaar-enabled payment system. The cadre authority administers the DCBs and controls and transfers and postings of the officials of the DCBs and Aadhaar-enabled payment system.
The minister welcomed the grant of licence for efficient services by the Indian Standard Institute to UP Cooperative Bank. He said the UP Cooperative Bank was the only cooperative bank to get this licence. He said this would add to the brand value of the UP Cooperative Bank.
The UP Cooperative Banks have been in service since 1944. The number of its branches in the state has now increased to 40 from 27 and the bank’s turnover has increased to Rs 22,000 crore in 2022-23 from Rs 12,000 crore. The bank has also considerably reduced its non-performing assets (NPA).
The minister said efforts were underway for expanding the network of the district cooperative banks. He said during the current financial year 2023-24, as many as 243 new branches of the bank would be opened in different districts of the state.