Himachal Pradesh News
Mukesh Agnihotri : Do not break investors’ trust, Dy CM Agnihotri tells cooperative banks
Deputy Chief Minister Mukesh Agnihotri has urged cooperative banks in Himachal Pradesh to uphold investors’ trust, stressing that mutual faith is the foundation of the cooperative movement and key to strengthening the sector.
Deputy Chief Minister Mukesh Agnihotri on Monday said that the cooperative sector functions on mutual faith and warned that breaking the trust of investors would weaken the cooperative movement in Himachal Pradesh.
He was addressing the International Cooperative Year 2025 Cooperative Conference, organised by NABARD, here today. “People invest their hard-earned money in cooperative banks with faith, and it is essential that this trust is never broken,” he said, adding that Himachal Pradesh has performed remarkably well in the cooperative sector and is considered a pioneer in the country.
Agnihotri said nearly 20 lakh people were associated with cooperatives in the state, with investments amounting to around ₹50,000 crore. He urged borrowers to repay loans taken from cooperative banks on time to ensure the long-term strength and sustainability of the sector.
Stressing the need to revive traditional cooperative institutions, the Deputy Chief Minister said that reactivating the Kangra Tea Society, Lahaul Potato Society, and Kullu Snow Weavers Society was the need of the hour.
He further said that NABARD was supporting the state government in expanding the electric vehicle network and had decided to release approximately ₹110 crore as capital support. “The government and cooperatives will work together, and there is a need to brainstorm on ways to further strengthen cooperatives. It is equally important to connect the younger generation with the cooperative movement,” he added.
Referring to Section 118 of the Himachal Pradesh Tenancy and Land Reforms Act, 1972, Agnihotri said that projects could not be established in societies that did not own land. He said a Bill was introduced in the Assembly to exempt societies whose directors are all Himachali from Section 118, sparing them the need to seek repeated permissions. “The Bill has been referred to a Select Committee, and a solution is expected by the Budget Session,” he said.
On the occasion, Regional Director, Reserve Bank of India, Anupam Kishore, also shared his views, while Chief General Manager, NABARD, Dr Vivek Pathania, delivered the welcome address and briefed participants on various initiatives being implemented by NABARD.
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