BADAL gives nod for slew of reforms to upgrade services in co-operative banking sector

Chandigarh, March 29, 2013: In order to benefit the farmers by strengthening the co-operative banking sector in the state, the Punjab Chief Minister Parkash Singh Badal today approved a slew of reforms for the upgradation of services in this sector to the advantage of the peasantry.

A decision to this effect was taken in a high level review meeting of the Co-Operation Department held under the Chief Minister here at his official residence.

In another significant decision the Chief Minister also decided to do away with the prevalent practice of electing political appointees of MDs in the district branches of banks across the state. The step is aimed at bringing far more efficiency in the delivery system of the banks on one hand and enhancing profitability on the other through appointing professional on these posts to make these institutions financially viable and economically sustainable. The process of making appointing professional with expertise in banking sector would be implemented gradually. 

The Chief Minister laid thrust on the complete renovation of these banks by computerization of all its 805 branches in the state along with implementing the Core Banking Service in them. He said that it was the need of the hour to expedite the process of giving these services to the consumers so as to benefit them on one hand and plug the leakages of the banks on the other. He also asked the department to adopt consumer centric approach by providing the ATM facility in all the branches of these banks so as to expand their business.

Giving his nod for the recruitment of 300 Clerks, 21 Assistant System Analysist and 50 Managers, the Chief Minister asked the department to ensure that the recruitment was held every year through Centralized recruitment process in a transparent manner so as to attract the best talent for the banking services. He said that efforts must be made to provide perfect banking services to the people especially the farmers in rural areas which would go a long way in strengthening these banks. In order to further enhance the quality of services provided by the Co-operative banks by engaging the Professionals in the Board of Governors, he also constituted a committee under the Chairmanship of Chief Secretary to study the entire matter.   

Dwelling on the issues pertaining to the MILKFED and MARKFED, the Chief Minister laid thrust on increasing the business of these agencies by further popularising the products manufactured by them. He said that both these agencies should make all out efforts for the better marketing of their products which were renowned all over the world due its good quality and mouth watering taste. He asked these agencies to lay focus on enhancing the sales of their wide range of products in the national and international markets.

In order to check the sale of spurious cattle feeds in the state, the Chief Minister also gave in Principle approval for enacting an Act to check this malpractice. He said that the sale of poor quality cattle feed was not in the interest of the peasantry of the state and effective steps were needed to check it, so as to benefit the dairy farmers of the state.

During the meeting Principal Secretary of the Chief Minister and Financial Commissioner Co-operation SK Sandhu apprised the Chief Minister that the Co-Operative banks were performing exceptionally well especially in the field of disbursing the loans to the farmers, Diary farmers and other customers. He said that in accordance with the directions of the Chief Minister the work on computerisation of the Co-Operative banks would also be completed soon for giving better services to the customers. Sandhu also revealed that efforts were afoot to start a vigorous campaign for effectively marketing the popular products of MARKFED and MILKFED both the within the country and globally.

Prominent amongst those present on the occasion included Registrar Co-operative Societies AS Miglani, MD MARKFED Dr Karamjeet Singh Sra, Director MILKFED Balwinder Singh Sidhu and Managing Director Punjab State Co-operative Agriculture Development Bank GS Mangat.