NABARD Key to Punjab Agrarian Growth: FM Harpal Singh Cheema
NABARD Key Driver of Punjab’s Agrarian Progress, Says FM Harpal Cheema
Chandigarh – Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema praised the National Bank for Agriculture and Rural Development (NABARD) on its 44th Foundation Day, calling the institution a pillar of Punjab’s agrarian success.
Speaking at the celebratory event in Chandigarh, Cheema applauded NABARD for playing a pivotal role in transforming agricultural credit access, empowering farmers, and energizing the cooperative banking network across the state. He credited NABARD’s low-interest loans to cooperative banks and societies as vital tools that enable farmers to secure affordable credit and drive sustainable rural development.
MPCASS Success Stories Highlighted at Ceremony
Finance Minister Cheema underlined the importance of Multi-Purpose Cooperative Agricultural Service Societies (MPCASS) in building Punjab’s agricultural resilience. A notable example came from The Lambra Kangri MPCASS Ltd. of Hoshiarpur, established in 1920, which was invited to share its long-standing success story. The society’s journey stood out as a testament to how cooperative institutions, when effectively managed, can become engines of prosperity.
“NABARD’s commitment to rural credit is enabling thousands of cooperative institutions to offer life-changing financial support to our farmers,” said Cheema.
Over 50% PACS in Punjab Now Profitable
Shedding light on the state’s Primary Agricultural Credit Societies (PACS), Cheema revealed that out of approximately 3,500 PACS, nearly 1,800 are running profitably. However, he acknowledged that many still face challenges and urged farmers to take collective ownership to strengthen PACS networks further.
He called upon Punjab’s farmers—long considered national leaders in agricultural reform—to reinvigorate the cooperative movement by promoting innovation and financial accountability within these institutions.
Top Performing MPCASS and DCCBs Honoured
As part of the ceremony, Finance Minister Harpal Singh Cheema distributed awards to outstanding MPCASS across several categories:
Best MPACS – Non-credit Services
- The Nurpur Bet MPCASS Ltd., Ludhiana
- Lambra Kangri MPCASS Ltd., Hoshiarpur
- The Sukhanand MPCASS Ltd., Moga
Best MPACS – Financial Performance
- The Bijapur MPCASS Ltd., Ludhiana
- The Sammipur MPCASS Ltd., Jalandhar
- The Kalyan Sukha MPCASS Ltd., Bathinda
Best New MPACS of the Year – Adoption of MoC Initiatives
- The Sukhanand MPCASS Ltd., Moga
- The Mehal Gehlan MPCASS Ltd., SBS Nagar
- The Gidrani MPCASS Ltd., Sangrur
In addition, several District Central Cooperative Banks (DCCBs) and producer companies were recognised:
- Kapurthala DCCB
- Jalandhar DCCB
- Muktsar DCCB
- Punjab State Cooperative Bank (PStCB)
- Registrar Cooperative Societies (RCS)
- Sangrur Phulkari Producer Company
- Sangrur Agri Grower Producer Company
RBI and NABARD Officials Laud Punjab’s Cooperative Success
The event was attended by key dignitaries, including:
- Vivek Srivastava, Regional Director, RBI
- VK Arya, Chief General Manager, NABARD Punjab
- Nivedita Tiwari, CGM, NABARD Haryana
- Jagdev Singh, Chairman, Punjab State Cooperative Bank (PSCB)
- Harjeet Singh Sandhu, Managing Director, PSCB
These leaders lauded Punjab’s progressive approach to cooperative banking, particularly its alignment with NABARD’s mission of empowering rural communities through structured financial inclusion.
A Roadmap for Cooperative-Driven Agricultural Reforms
As NABARD continues its journey into its 45th year, Finance Minister Cheema affirmed the Punjab Government’s commitment to enhancing cooperative credit systems, making them more tech-enabled, transparent, and farmer-friendly.
He also hinted at new policy measures being explored to support underperforming PACS and expand capacity-building programmes for MPCASS leadership.
“Punjab’s future in agriculture is bright—but only if we strengthen grassroots institutions like PACS and MPCASS,” Cheema said.
The event concluded with a pledge to deepen the synergy between state government initiatives and NABARD’s financial frameworks, ensuring that the gains of Punjab’s agrarian revolution reach every farmer.