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HIMACHAL PRADESH STATE COOPERATIVE BANK LTD

Jan 20, 2020 351

HISTORY:

Commercial banks were operating over the years, but it was being felt that these banks were not paying the necessary head to the credit needs of the masses. In addition, commercial banks, concentrating mainly their business in the urban area and the banking services to the rural population were not available.As a result, Cooperative Banks entered the scene after 1904. Himachal Pradesh has the distinction of having Coop first. Society registered in India. Cooperative were viewed primarily as a specialized agency to finance the credit requirement of rural people in the country, particularly agriculture.

In Himachal Pradesh at the time of achieving independence in India, Mahasu Central Co-operative Bank, The Mandi Central Cooperative Bank Ltd. and The Chamba Central Co-operative Bank Ltd. were functioning to meet the needs of the farmer. In 1953 the Himachal Pradesh State Cooperative Bank was established after merging these three Cooperative Central Banks.

The registration of the Cooperative Bank of the State of Himachal Pradesh was made in August 1953, under the Cooperative Society Act of 1912 the bank began operating on March 15, 1954. At that time, the State of Himachal Pradesh used to be the territory Of the Union And there were only 6 districts in the state. The bank began operating as an Apex bank as well as the Central funding body under the two tier system in 6 districts of the state.In 1955 a common stock bank, ie Bank of Sirmour also merged into it. Currently the H.P.S.C.B. You are performing the dual viz. Apex Co-operative Bank in Himachal Pradesh to play the leading role in development in Cooperative in the State and Cooperative Bank in 6 districts viz. BILASPUR, CHAMBA, KINNAUR, MANDI, SHIMLA and SIRMOUR.


The Bank is expanding banking facilities in 5 districts namely. KANGRA, KULLU, HAMIRPUR, LAHAUL and SPITI and UNA through our affiliated District Cooperative Banks, ie the Kangra Central Cooperative Bank and in the SOLAN district through another affiliated District Central Cooperative Bank, the Central Cooperative Bank Jogindra As the Central Cooperative Bank of the District.The Himachal Pradesh Co-operative Bank is serving the people of the State through a network of 190 branches and Extension Counter, of which approximately 94% is in the rural areas of the State and a branch in New Subzi Mandi, Azadpur, New Delhi for the Benefit of State Horticulturists.

CHAIRMAN:  Sh. Harsh Mahajan