Jharkhand State Co operative Bank (JSCB) is playing a pivotal role in uplifting the living standard of people of the State through its various credit programmes.
JSCB Public Relation Officer, Chandan Prasad informed that the bank is providing credit facilities to Jharkhand State Livelihood Promotion Society (JSLPS). "A large numbers of livelihood promotion programmes are promoted by JSLPS in the State. JSLPS is running these programmes by constituting small groups of members which is called Self Help Groups (SHGs) in remote areas of the State. JSLPS is providing them training and to some extent credit support also. Till date around two hundred SHGs got benefited from this programme. JSCB has provided credit support of around Rs 1.5 crore to JSLPS under this programme. JSCB has been providing credit support to the SHGs since 2017," he added.
"There is no problem in providing credit support to the SHGs because all these applications come from JSLPS after completing all investigation for loans. SHGs are involved in various livelihood promotion programmes like poultry, piggery, dairy and others. In the initial stage a SHG can get Rs One Lakh if it repays in one year then it will be entitled for Rs 2 Lakh for next year and Rs 1 Lakh increases in next year according to their repayment capability," said Prasad.
JSCB registered profit of Rs 2.63 crore in the financial year 2019-20. The total amount of Rs 1,612.82 crore was deposited in the bank, which has increased to Rs 1,740.05 crore till September this year. The gross Non Performing Asset (NPA) of the bank on March 31 was 51.63 per cent, which has come down to 36.46 per cent September 30.
Prasad further informed that JSCB is also providing education loans to the students of State Government approved institutions affiliated or run by Prejha Foundation, an institution of IIT alumnus. "The programme was started in 2018 and till the date around 850 students benefited from the programme. JSCB provides education loan to Rs 75 Thousand for one year course like ITI and Rs 1. 50 Thousand for two year course like Nursing. Till the Rs 10.40 crore under this programme," he added.
The bank is running various loan schemes. Presently, bank loans including home loans, vehicle loans, personal loans, joint liability group and self-help group loans, agricultural loans to lamps, packs, farmers credit cards, loans to rural craftsmen, traders Cash credit loans, loans against real estate and education loans including various types of credit facilities are available at affordable and attractive interest rates.