The meeting of the Board of Directors of the Himachal Pradesh State Cooperative Bank was held at the head office of the bank, Shimla. The meeting was presided over by the chairman of the bank, Mr. Devindra Shyam. In this meeting various matters related to bank business and policy making were presented before the Board of Directors for discussion and approval. Business related statistics by the bank during the current financial year, Reserve Bank of India, NABARD and Registrar Cooperative Societies H.P. An account of various timely reports communicated to the Board was also placed before the Board of Directors on which they expressed satisfaction over the progress made so far and directed for time bound completion of business targets in the coming period.
Giving information about this meeting, the bank’s chairman Mr. Devindra Shyam said that it has always been the endeavor of the bank to provide self-employment opportunities to its customers by providing loan facilities according to their needs through new-2 loan schemes.
Giving further information, he said that the approval was given by the board to run the Rajiv Gandhi Self-Employment Scheme being run by the state government through the bank. Through this scheme, banks can avail the CMA fixed by NABARD for loan schemes up to Rs.1 crore. Will provide loan facility up to a maximum of 60 lakhs as per the conditions. Under this loan scheme, the facility of investment subsidy ranging from 25 percent to 35 percent will also be provided to the potential loan holders. Along with this, interest subsidy will also be available in some loan components. Under this loan scheme, the applicant will be given loan facility for setting up self-employment for e-vehicle / e-truck, e-bus, e-tempo traveler with 50 percent investment subsidy, dental facility and fisheries business etc. Also, there will be facility of interest subvention at the rate of 5 percent for the initial three years, but this facility will not be available on e-vehicle loans.
The bank has also increased the loan limit by revising its education loan scheme. Now, under this scheme, loan facility will be provided to the youth studying in the country up to a maximum of 30 lakh for diploma / degree from recognized educational institutions and up to 40 lakh for diploma / degree from foreign educational institutions.
In this meeting, the members of the Board of Directors, Mr. Pitambar Negi, Ram Singh Chambyal, Keshav Nayak, Bharat Bhushan Mohil, Priyavrat Sharma, Pawan Chauhan, Dr. Jagdish Chandra Sharma, Sunil Sharma, Harikrishna Himral, Lal Singh Kaushal, Lalit Thakur, Vikram Negi, Sanjay Chauhan, Vijay Thakur, LR Verma, in-charge of NABARD Regional Office Dr. Ajay. Of. Apart from Sood Chief General Manager, Managing Director of the bank Shravan Manta was present.