UP will now move towards One District, One Cooperative Bank: CM Yogi

New Delhi: Keeping in view the development of Uttar Pradesh and the needs of farmers, everyone should avail banking facilities. The primary objective is to open cooperative bank branches and connect them with the BC Sakhi program in the first phase. Secondly, make these banks profitable and move towards One District, One Cooperative Bank in the third phase, said Chief Minister Yogi Adityanath on Friday.

Launching the B-PACS membership campaign and toll-free number, the Chief Minister said that Uttar Pradesh is emerging as a good investment hub. The ‘One District, One Product’ program has gained nationwide popularity. To achieve self-reliance, Prime Minister Narendra Modi emphasizes the campaign of ‘local for global.’

तीसरे चरण में हमें ‘One District, One Co-Operative Bank’ की परिकल्पना को साकार करने की दिशा में आगे बढ़ना चाहिए: #UPCM @myogiadityanath pic.twitter.com/zyaJRn8dn4

— CM Office, GoUP (@CMOfficeUP) September 1, 2023

“The MSME department is actively promoting the packaging, design, and marketing of its local products. A new competition has emerged, urging people to contribute to promoting the local product. If cooperative banks also join this process, it will help rebuild public trust in them.”

The CM said that cooperatives have been an integral part of Indian tradition since ancient times. But at one time this work of co-operative was compromised and wrong people got involved in it, resulting in significant consequences for the most populous state in the country. We are all grateful to PM Modi, who gave the status of ministry to cooperatives after becoming Prime Minister again in 2019.

हम प्रधानमंत्री श्री @narendramodi जी के आभारी हैं, जिन्होंने 2019 में दूसरी बार प्रधानमंत्री बनने क बाद सहकारिता को एक मंत्रालय का दर्जा दिया: #UPCM @myogiadityanath pic.twitter.com/fRS2JUSSCn

— CM Office, GoUP (@CMOfficeUP) September 1, 2023

“As the first Minister of Cooperation, Home Minister Amit Shah has worked to strengthen PACS, its most basic unit, by linking it with prosperity. It is a matter of happiness for us that this membership campaign has been launched in Uttar Pradesh from September 1 to 30 and toll-free number has been issued,” he added.

The Chief Minister said that the double-engine government is taking the program forward by linking cooperatives with prosperity. Till now, PACS was limited to selling fertilizers and seeds, but now it is also being developed as a Common Service Development Center, and other facilities will be available there.

The Chief Minister highlighted the importance of agriculture in a state like Uttar Pradesh, stating, “We have the most fertile land in the world and the best water resources. There are more than 2.61 lakh farmers who are associated with PM Kisan Samman Nidhi. That means we have 3 crore farmers who can join this campaign, take it on the path of prosperity, and help connect agriculture with the prosperity of Uttar Pradesh.”

हमारे पास दुनिया की सबसे ऊर्वरा भूमि है…तो सबसे अच्छा जल संसाधन भी उत्तर प्रदेश के पास मौजूद है। 2.61 करोड़ से अधिक किसान हमारे पास ऐसे हैं जो प्रधानमंत्री किसान सम्म्मान निधि से सीधे-सीधे जुड़े हुए हैं: #UPCM @myogiadityanath pic.twitter.com/ryBU7qLn1M

— CM Office, GoUP (@CMOfficeUP) September 1, 2023

Agriculture constituted more than 40 percent of the total GDP during India’s independence. Over time, this figure gradually declined and currently stands at around 16-17 percent nationwide. However, in Uttar Pradesh, it remains at a significant 25 to 26 percent. UP has the potential to make an even better contribution in this sector, said the Chief Minister.

The CM pointed out that if farmers receive timely access to seeds and fertilizers and all aspects of agricultural operations function efficiently, our dedicated farmers can turn their land into gold. It will play a pivotal role in giving new impetus to the cooperative movement in Uttar Pradesh.

Along with increasing the credit limit of PACS, CM Yogi emphasized the importance of establishing specific targets for crop loans. He pointed out that the current limit of 7,500 PACS is insufficient to meet the liquidity needs for fertilizer purchases, considering the state’s requirements. As per the requirements of the state, a credit limit of Rs 10 lakh is required. The state government will provide full cooperation in this regard.

He further added that, in the future, crop loans should be considered in collaboration with the Agriculture Department.

What is a B-PACS campaign

B-PACS is a scheme to open multipurpose rural cooperative societies. Currently, there are 250 cooperative societies operating within the district to provide farmers with affordable fertilizers, seeds, and benefits of various government schemes. To ensure smooth operations in the future, particularly regarding loan distribution, as well as the distribution of fertilizers and seeds, a decision has been made to appoint members to every committee starting September 1 as part of the B-PACS Mahabhiyan initiative. During this membership campaign, which will continue until September 30, a minimum of 200 new members will be added to each committee.

Any farmer can become a member by getting a receipt of Rs 21 and will have to buy a share bond of Rs 200. This membership will result in an increased loan limit for member farmers, along with a reduced annual interest rate. Furthermore, any individual residing in the Gram Panchayat of the Resource Co-operative Society, engaging in temporary business activities, owning land, or desiring to deposit funds in the society can become an ordinary member of the society. After becoming a member, it will be easier for the farmers to take advantage of the cooperative society.