Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema on Tuesday praised the National Bank for Agriculture and Rural Development (NABARD) for its vital contribution to the advancement of Punjab’s agriculture-driven economy.
Addressing the 44th Foundation Day celebration of NABARD, Minister Cheema highlighted the bank’s crucial efforts in empowering farmers and reinforcing the cooperative banking infrastructure in the state. He specifically noted NABARD’s provision of low-interest loans to cooperative banks and societies, which, in turn, help these institutions extend affordable credit to farmers—an essential element in promoting agricultural growth.
Cheema also emphasized the important role of Multi-Purpose Cooperative Agricultural Service Societies (MPCASS) in the state’s development. He invited representatives from the Lambra Kangri MPCASS Ltd., Hoshiarpur—established in 1920—to share their success story, showcasing how cooperative societies can thrive and make a meaningful impact.
Speaking on the condition of Primary Agricultural Credit Societies (PACS) in Punjab, the Finance Minister stated that out of nearly 3,500 such societies, about 1,800 are currently running profitably, while the rest are struggling. He encouraged Punjab’s farmers—who have a legacy of agricultural leadership—to focus on further strengthening the PACS framework across the state.
As part of the celebration, Cheema also presented awards to top-performing MPCASS in multiple categories. Among the awardees were:
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Best MPACS – Non-credit Services: Nurpur Bet MPCASS (Ludhiana), Lambra Kangri MPCASS (Hoshiarpur), and Sukhanand MPCASS (Moga)
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Best MPACS – Financial Performance: Bijapur MPCASS (Ludhiana), Sammipur MPCASS (Jalandhar), and Kalyan Sukha MPCASS (Bathinda)
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Best New MPACS – MoC Initiatives Adoption: Sukhanand MPCASS (Moga), Mehal Gehlan MPCASS (SBS Nagar), and Gidrani MPCASS (Sangrur)
He also honoured outstanding performers including Kapurthala DCCB, Jalandhar DCCB, Muktsar DCCB, PStCB, RCS, Sangrur Phulkari Producer Company, and Sangrur Agri Grower Producer Company.
The event was graced by several dignitaries including RBI Regional Director Vivek Srivastava, NABARD CGMs VK Arya (Punjab) and Nivedita Tiwari (Haryana), PSCB Chairman Jagdev Singh, and PSCB MD Harjeet Singh Sandhu.