This bank is an apex institution in the co-operative sector in the state of Himachal Pradesh for providing investment finance for the development of agriculture and allied activities. The H P State Cooperative Agriculture & Rural Development Bank Ltd; was established in the State of HP and was registered as a Cooperative Society under the provisions of Himachal Pradesh Cooperative Societies Act,1956 as Himachal Pradesh Central Land Mortgage bank on 6th Feb ,1961.The working, aim , objectives and purposes of loans are defined under the HP State Cooperative Agriculture and Rural Development Bank’s Act 1979,enacted to supplement the main Act i.e. HP State Cooperative Societies Act,1968
The main focus of the Bank initially had been to advance loans to the farmers for redemption of their land and to save them from the clutches of money –lenders and big land lords. With the passage of time, the bank changed its lending policies and started providing long term credit/loans for development activities. Gradually, the role and nomenclature of the Bank was changed to ‘Land Development Bank’ through an amendment in the Bank Act/Rules. On the recommendations of the National Bank for Agriculture & Rural Development Bank, this bank diversified its activities and has started lending for purposes like Dairy Development, Bee Keeping, Floriculture, raising of orchards, Irrigation etc.
Bank has further diversified its activities and started lending to non-farm sector activities including Dhaba, Restaurant, Hotels, Small Scale Industries and Transportation and the name of the Bank was accordingly changed as ‘H.P. State Cooperative Agriculture & Rural Development Bank Ltd. in the year 1987. Now, the Bank has been providing loans to the agriculturist/horticulturist/artisans of the State for the purposes like Land Development, irrigation, dairy and poultry development, farm mechanization, plantation of orchards, small and cottage industries. In addition to it, Kisan Clubs are being constituted by the Bank for facilitating lending to farmers for improving their economic status. The Bank has also started advancing loans for construction/repair of houses under Rural Housing Scheme and purposes like floriculture, mushroom cultivation and medicinal plants etc.
Bank does its business through the network of branches numbering to 51 in nine districts i.e. Shimla,Solan,Sirmour,Bilaspur,Mandi,Kullu,Chamba,Kinnaur & Keylong at the apex level and in rest of three districts i.e. Hamirpur, Kangra & Una, the Bank is functioning through its primary bank i.e. Kangra Primary Agriculture and Rural Development Bank, Dharamshala through its 30 branches.
With a view to raise its own resources and encourage rural savings, the Bank has introduced various deposit schemes to its members i.e. Saving Bank, Daily Deposit Scheme, Recurring Deposit, Fixed Deposit for a period of 1 to 5 years with attractive interest rate.
I take this opportunity to thank our valued customers and welcome them to HPSCARDB corporate website. This website is a portal through which we intend to remain connected with all stakeholders and to provide the detailed information of the Bank’s activities, products and services etc. HPSCARDB since its inception in the year 1961 has prided itself with being institution that provides financial intermediation for development and modernization of a farm sector and non farm sector in the state having its focus on the development of rural areas. We encourage you to explore our diverse range of products and services and look forward to your repeat visit to our website.
This website is a portal through which we intend to remain connected with all stakeholders and to provide the detailed information of the Bank’s activities, products and services etc. The main focus of the Bank initially had been to advance loans to the farmers for redemption of their land and to save them from the clutches of money –lenders and big land lords. With the passage of time, the bank changed its lending policies and started providing long term credit/loans for development activities. We encourage you to explore our diverse range of products and services.