The Himachal Pradesh State Cooperative Bank (HPSCB) has been accorded the status of a commercial bank, as it earned the rare distinction of second schedule status from the Reserve Bank of India (RBI).
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Harsh Mahajan, bank’s Chairman, said that HPSCB is the third bank in the country that has been included in the second schedule of the RBI.
He said that the bank is planning to open new branches at 13 places and install 50 ATMs by this fiscal.
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Currently, the bank has 207 branches with over 16 lakh account holders. The majority of its account holders are from rural and remote areas.
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