Balrampur: The Uttar Pradesh government has approved the formation of the Balrampur District Cooperative Bank Limited, marking a significant step towards strengthening the cooperative banking network in the region and expanding access to modern financial services for farmers and rural communities.
The government has issued a notification granting permission for the establishment of the district cooperative bank and directed the concerned authorities to initiate further action. A provision of ₹14.90 crore has been made for setting up the bank.
The proposed Balrampur District Cooperative Bank will have jurisdiction over Balrampur and Gonda districts. Its establishment is expected to strengthen the cooperative banking system in both districts and improve access to banking, credit and other financial services for farmers, cooperative societies and rural account holders.
With banking services becoming available closer to villages, residents in rural areas will no longer have to travel long distances for routine banking requirements. The new institution is also expected to improve the delivery of agricultural credit and other financial services through the cooperative network.
Cooperation Minister of State (Independent Charge) J.P.S. Rathore said the cooperative sector in Uttar Pradesh was being continuously strengthened and expanded under the leadership of Chief Minister Yogi Adityanath. He said the government’s objective was to modernise the cooperative banking system and ensure that farmers and citizens receive banking and financial services according to their needs at locations closer to their homes.
Rathore said farmers in Balrampur and Gonda would benefit from Kisan Credit Card (KCC) loans through cooperative societies at an interest rate of 3 per cent, along with services such as doorstep banking and digital banking.
He said expanding cooperative banking services to villages would reduce the dependence of farmers on distant banking facilities while making agricultural loans and other financial services more accessible at the local level.
The formation of the district cooperative bank is also expected to facilitate closer integration between cooperative societies and the formal banking system. This could help improve the flow of institutional credit to farmers while expanding the reach of digital and other modern banking services in rural areas.
The government views the establishment of the Balrampur District Cooperative Bank as an important move towards expanding the cooperative movement in the region. By strengthening the banking infrastructure in Balrampur and Gonda, the initiative is expected to improve access to credit, banking and digital financial services for rural communities and support the financial needs of the agricultural sector.
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