UP CM Yogi Adityanath cuts LDB loan interest to 6% for farmers under Mukhyamantri Krishak Samridhi Yojana; cooperative growth emphasized in 2025.

Lucknow: By lowering the interest rate on loans made through the UP Cooperative Rural Development Bank (LDB) to 6% , Chief Minister Yogi Adityanath announced a major benefit for small and marginal farmers. As part of the International Year of Cooperatives 2025, the announcement was made at the opening of the Youth Cooperative Conference and UP Cooperative Expo 2025 at Jupiter Hall at Indira Gandhi Pratishthan.

The Chief Minister claimed that farmers were already burdened financially by the previous interest rates on LDB loans, which were approximately 11.5 percent. Eligible farmers will now obtain loans under the Mukhyamantri Krishak Samridhi Yojana at an interest rate of six percent, with the state government covering the remaining interest subsidies. In his speech, CM Yogi emphasized the importance of collaboration in upholding social justice, trust, and independence. According to him, the United Nations’ designation of 2025 as the International Year of Cooperatives has given the nation’s cooperative movement a chance to grow even further. He pointed out that with more than 8.44 lakh societies and more than 30 crore members, India makes up roughly one-fourth of all cooperative societies worldwide.

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According to the Chief Minister, accountability in the cooperative sector has increased as a result of digitalization and open governance. As important results of recent reforms, he mentioned the rise of Primary Agricultural Credit Societies (PACS), membership, and access to financial services.

Speaking about the actions done in Uttar Pradesh, Chief Minister Yogi stated that the state held a “Run for Cooperation” on January 26 to kick off the International Year of Cooperatives, and that several sector-specific events were held throughout the year. He pointed out that a massive PACS membership drive that took place from September to November brought in 24 lakh new members and produced ₹43 crore in share capital.

CM Yogi highlighted the state’s infrastructural achievements, noting that PACS had made ₹191 crore in profits on ₹6,400 crore in business. More than 500 societies now have solar rooftop panels installed, and additional M-PACS units are increasing warehousing capacity. He added that Balrampur has already started the process of the state transitioning to a “One District, One Cooperative Bank” structure.

In order to improve rural economies and accomplish long-term development goals, the Chief Minister urged young people to get involved in the cooperative movement.