Patna: Bihar’s Cooperative Minister Dr Prem Kumar on Monday launched two key initiatives aimed at modernising and expanding access to banking services in the state — a new gold loan scheme and a digital payment gateway facility by the Bihar State Cooperative Bank.
The launch event was held at the Bankipur branch of the cooperative bank in Patna, where the minister distributed gold loan cheques to five customers as part of the rollout.
Under the new gold loan scheme, customers will be eligible for loans ranging from Rs 20,000 to Rs 5 lakh based on the valuation of their gold jewellery. The loan tenure will vary from one month to a maximum of 12 months, with interest rates between 9.5% and 10%. Repayments made on time will allow for an extension of the loan period, and mortgaged jewellery will be secured through insurance cover.
The scheme will offer a convenient and secure financing option to customers, especially those in need of short-term credit. Customers interested in availing the scheme can visit their nearest Bihar State Cooperative Bank branch.
In a significant step toward financial digitisation, Dr Kumar also inaugurated the bank’s new payment gateway, which enables customers to carry out transactions digitally through UPI, debit and credit cards. The facility aims to make banking more accessible, quick and transparent, not only for individual users but also for various government schemes and departments.
Speaking at the event, Dr Kumar said, “Cooperative banks are playing a leading role in the development of Bihar. These initiatives reflect our commitment to bringing modern banking to the grassroots.” He urged citizens to join cooperative banks to take advantage of these facilities and contribute to the state’s growth.
Information leaflets detailing the schemes were also released during the programme.
The event was presided over by Ramesh Chandra Chaubey, Chairman of the Bihar State Cooperative Bank, and attended by several key dignitaries, including Cooperative Department Secretary Dharmendra Singh, NCCF national president Vishal Singh, and managing directors and chairpersons from district-level cooperative banks.
