Mission

Self Reliance & Development of Rural Punjab

The Punjab  State Cooperative Agricultural Development Bank Limited, previously known    as     Land     Mortgage    Bank    was     established   on   26/02/1958    under    the provisions   of   Punjab   Cooperative   Land Mortgage   Banks    Act,  1957,   basically   with an     objective    to    eliminate   exploitations   of    the  farmers    by    the   money-lenders, by providing    the    long   term    loans    at   cheaper  rates   of  interest ,repayable  in   easy installments. The  repayment   period   ranges  from   5-15 years, depending upon the purpose of the Loan.

The Punjab State Cooperative Agricultural Development Bank Limited, Chandigarh is  an  apex Cooperative  Institution  engaged   in providing Long-Term Credit (5-15 years duration) to the farmers of Punjab for the development of Agriculture and Allied activities in the State by following the Values & Principles of Cooperation. I have the pleasure in welcoming all of you on our website and hope you will find it quite interesting & beneficial.

At     the   initial  stage, the   Bank  had   started  functioning   through   the Central   Cooperative   Banks   by   appointing   them  as  Agents .  The  Agency  system  was discontinued  in  the  year  1962  when  14  Primary  Cooperative   Agricultural Development Banks  (PADBs),  previously  known  as   Primary      Cooperative    Land    Mortgage    Banks (PLMBs) ,  were brought    into    existence   and    affiliated   to  the   State     Bank, for   the   purpose   of advancing   long  term  loans   to   the   farmers  of   the  state.  The   long    term    structure in   the   Punjab  State ,  as  such , is   a   federal   structure   with    the   State Cooperative Agricultural    Development    Bank  an   Apex   institution  with its  member  PADBs at the Base level.  At present the number of  PADBs  in     the    state    is    83     besides this   2     other     institutional members are  Punjab   State    Electricity   Board  and   Punjab   State   Tubewell    Corporation.  Each PADB,  while seeking  membership to the   SADB,  is  required  to  purchase  at least 1 share of the value of Rs. 1000/- and pay Rs. 1000/- as Admission Fee.

Diversification

            Initially, the Bank was established with the objective of saving the farmers from the exploitation of money vendors by extending Long-Term Credit help to redeem their debts on agricultural lands and to acquire more lands for the formation of their economic holdings etc. However, with the passage of time, the Bank had also diversified its lending portfolios to meet the changing long-term credit needs of the farmers in the State for the development of Agriculture etc. The Bank subsequently started advancing loans for improvement of Banjar Lands, Alkaline and Saline Lands and also for the installation of Tubewells, purchase of Tractors and Agricultural Implements, Levelling of Lands etc. etc. and as such played a major role in bringing Green Revolution in the State. Every thrid tubewell installed in the State is financed by this Bank. Similarly every fourth Tractor running in the fields of the State is financed by the Bank.

        Not only this, keeping in view the stauration point in respect of the traditional purposes, the Bank also diversified its loaning activities to provide subsidiary occupations and improve the economic conditions of the farmers in the State and advanced loans for Dairy Development, Poultry Development, Animal Driven Carts, Farm Forestry, Fish Farming, Sheep Rearing, Sand Scrapping, Installation of Bio-Gas Plants etc.

        After the Green Revolution, the Bank in particular accepted the challenge to bring WHite Revolution in the State by advancing Dairy Loans. The Dairy Farming has been accepted by the farmers as an honourable profession for improving their economic position. Starting with the advancement of loans for development of two, three and five animal units, the Bank is now advancing loans for setting up of Commercial Dairy units consisting of 10, 20, 30 and 50 milch cattle. It is worth mentioning here that the per capita milk availability in the Punjab State has reached the level of 845 grams against per capita availability of 201 grams in the country. For this, the credit should go to this Bank, because major financing amongst financial institutions has been made by this Bank for Dairy Farming in the State which consequently, increased the milk production of the State.

Stages of Diversification

	Original Function	Purchase & Redemption of Land
	Early Sixties	Farm Mechanisation
	Mid Sixties	Minor Irrigation
	Mid Seventies	Land Development, Underground Pipelines & Reclammation of Alkaline Land
	Late Seventies	Dairy Development
	Early Eighties	Poultry, Farm Forestry, Horticulture etc.
	Mid Eighties	Inland Fisheries, Bee-Keeping, Mushroom etc.
	Early Nineties	Non-Farm Sector, Agro-Processing units

Contact Information

Telephone

91-172-(702357-358)

FAX

91-172-705513

Postal address

SCO-53-54,

Sector -17B,

Chandigarh (India)

General Information: pscadb@glide.net.in

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