Cooperative Village Development Banks will be digitalized.
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Jagran correspondent, Bahraich. Uttar Pradesh Cooperative Gram Vikas Bank Limited is also going to be digitalized like other banks. With the financial support of NABARD, arrangements for computer equipment, internet, furniture etc. will be made in about four hundred branches across the state.
From April 2026, all branches of this bank will start providing loans and other financial services to farmers easily through digital mediums. Equipment will be provided to bank branches from the state level itself. It is said that about eight to nine crore rupees will be spent in this new system.
The changed form of Bhoomi Vikas Bank is now working in collaboration with cooperative banks in many states, and its main objective is to provide easy loans and other financial services to the farmers through digital means. Now all the work is being done digitally, including loan application, submission of documents and monitoring, which will increase transparency and convenience.
Efforts are being made that farmers can upload their land documents through mobile app or portal and apply for loan without going to the bank. With this, farmers will not have to make rounds and will get loans quickly, and land records will also be digitized. Transparency will increase and fraud will reduce.
Preparations have been made to change the format of about four hundred branches across the state to provide digital financial assistance to the farmers. About eight to nine crore rupees will be spent on this. About 70 percent of the money will be shared by NABARD and the remaining 30 percent will be held by the cooperative bank.
Farmers' details are entered into the ledger manually
The process of giving loan, depositing installment and charging interest etc. is currently done manually. For this there is an area wise ledger (register). There are about two and a half to three hundred lasers in one branch. In which the loan history of the farmer is recorded. The new system will provide relief to bank employees forever. -Raja Ram Bhargava, Senior Manager, Cooperative Village Development Bank, Bahraich.