Balrampur-Gonda to Get 51st Cooperative Bank, Farmers to Receive Crop Loans at 3%

Cooperative Sector Poised for Growth in Balrampur

The cooperative sector in Uttar Pradesh's Balrampur district is preparing for a significant transformation. The state government is accelerating the establishment of a District Cooperative Bank to enhance banking facilities for farmers, strengthen cooperative societies, and improve the transparency and effectiveness of fertilizer distribution.

A high-level review meeting, chaired by Cooperative Minister J.P.S. Rathore, discussed the project in detail, providing necessary directives. Minister Rathore emphasized the state government's commitment to empowering farmers and making the cooperative system modern and self-reliant. The establishment of the District Cooperative Bank, Balrampur is progressing rapidly.

Balrampur-Gonda to Host State's 51st Cooperative Bank

With the establishment of the District Cooperative Bank, Balrampur, it will become the state's 51st such institution. Notably, its operational area will encompass both Balrampur and Gonda districts, which are currently underserved by district-level cooperative banking facilities.

This new bank is expected to directly benefit millions of farmers across both districts. A budget of approximately ₹14.90 crore has been allocated for its establishment. The bank's operations are anticipated to not only improve banking services but also enhance the financial well-being of farmers.

Farmers to Benefit from 3% Crop Loan Facility

A key advantage for farmers will be access to crop loans at a reduced interest rate. Minister Rathore clarified that while farmers currently obtain crop loans at 4% interest from other banks, they will be able to secure them at a concessional rate of 3% through the new bank via Kisan Credit Cards (KCC).

This 2% direct saving will significantly lower agricultural costs, stimulate farming activities, and contribute to increased farmer income. This initiative marks a crucial step in making agriculture more economically viable for local cultivators.

Digitization and Financial Strengthening of Cooperative Societies

The meeting also focused on modernizing and enhancing the capabilities of cooperative societies. The minister directed the digitization of all cooperative societies across the state to improve transparency, accountability, and efficiency in their operations.

Furthermore, cooperative societies are being provided with a zero-interest credit facility of up to ₹10 lakh to strengthen them financially. This will enable societies to expand their activities, launch new schemes, and ensure the timely supply of quality agricultural inputs and services to farmers.

Emphasis on Transparency and Quality in Fertilizer Distribution

The availability and distribution system of fertilizers were also thoroughly reviewed. Minister Rathore assured that there are sufficient stocks of urea and other essential fertilizers available in the state.

Officials were strictly instructed to ensure that fertilizers are provided to every farmer at the fixed price in a timely, simple, and accessible manner. The distribution system must be completely transparent, with no artificial scarcity, black marketing, or irregularities tolerated at any level. Ensuring farmers receive quality fertilizers on time is a top government priority.

Inspection of Multipurpose Cooperative Societies

Following the meeting, the minister inspected the Multipurpose Cooperative Society (B-PAX) Sekhuikala and the Purchase-Sale Committee Bhagatiganj. He closely observed their functioning, record-keeping, services provided to farmers, and fertilizer distribution processes.

He issued necessary directives to the concerned officials, emphasizing that cooperative institutions, being the backbone of the rural economy, should be made more capable, transparent, and farmer-friendly. The discussions during the review meeting, focusing on strengthening the cooperative sector and ensuring effective strategies for better banking, credit, and transparent fertilizer distribution, are poised to be a milestone for agricultural and rural development in the state.