PIONEER NEWS SERVICE | Dehradun
The State Cooperative minister Dhan Singh Rawat stated that a total of 11 banks, including 10 District Cooperative Banks and the State Cooperative Bank have earned a profit of Rs 250 crore in the financial year 2024-25. He further said that the net profit of these banks has soared from Rs 112.81 crore to Rs 123.28 crore.
“This impressive financial performance reflects the effectiveness of the strategies and initiatives undertaken by the government to support these financial institutions. When I assumed responsibility for the cooperative department in 2017, most of the District Cooperative Banks in various districts of Uttarakhand were loss-making units. Currently, 280 branches are in profit mode while only 49 branches are operating at a loss,” he said.
Most of these loss-making branches were established only a few years ago. “I believe they will also become profitable within two years,” he averred.
Rawat stated that District Cooperative Banks play a vital role in implementing the State government’s policies and providing necessary financial support to the rural populace. “Through these banks, villagers have been empowered economically with their income being doubled. Our focus was, is and will remain trained on financial inclusion and sustainable economic growth in the State through the instrumentality of cooperative banks,” he said.
Notably, the profits of the state cooperative banks have been estimated at Rs 31.49 crore with specific contributions being Rs 19.76 crore from Dehradun, Rs 29.73 crore from Kotdwar and Rs 30.03 crore from Chamoli, among others.
