It gives me great pleasure to reach out to you through this platform and share a few thoughts on where we stand today, and where we intend to go from here. Co-operative banking in Himachal Pradesh has always been about more than balance sheets — it has been about standing beside the small trader, the farmer, the salaried employee and the local business that keeps our towns running. That founding purpose has not changed, even as the world around banking has changed almost beyond recognition.
The last few years have tested every financial institution, and co-operative banks in particular have had to work harder to earn and re-earn the trust of the very depositors we exist to serve. I say this not as a formality but because I believe it is the honest starting point for any conversation with you: trust is built slowly, through consistent conduct, and it is our job every single day to be worthy of it. We remain accountable to our depositors, to our regulators, and to the communities we operate in, and we intend to keep it that way.
At the same time, banking itself has moved decisively into the digital era. Customers no longer wish to visit a branch counter for every transaction — they expect the convenience of net banking, mobile access and instant transfers, alongside the personal, face-to-face service that co-operative banking has always been known for. Our effort is to bring both together: the warmth and familiarity of a local bank, with the speed and convenience of modern technology.
Our Focus Areas
- Strengthening internal controls, compliance and governance across all branches
- Continued recovery and resolution of stressed assets, pursued firmly but fairly
- Expanding access to digital banking channels for our customers
- Building staff capability through training in modern banking practices
- Keeping communication with depositors transparent and timely
Our Commitment
We recognise that confidence, once shaken, has to be rebuilt through action rather than words. Our management remains focused on strengthening the fundamentals of the bank — sound lending practices, disciplined recovery, and prudent management of deposits — so that Baghat Bank continues to serve the people of this region for generations to come, as it has done since its founding.
I would like to place on record my sincere gratitude to our shareholders, depositors and customers for the patience and support extended to the bank during a difficult period. I am equally thankful to the Reserve Bank of India, the Registrar of Co-operative Societies, and the Himachal Pradesh Government for their continued guidance, and to our staff for their commitment through challenging times. It is this collective support that gives us the confidence to look ahead with resolve.
We remain committed to serving you, and to earning your continued trust, every single day.
Managing Director