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Model bye-laws for PACs
December 13 , 2023
221 days
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- The Ministry of Cooperation has introduced Model Bye laws aimed at revitalizing Primary Agricultural Credit Societies (PACS).
- The Model Byelaws refer to a set of guidelines or regulations to govern the functioning and operations of PACS at the grassroots level.
- By adopting Model Byelaws, PACS would be able to serve as multi-service centers, improve their operational efficiency, transparency and accountability and provide agricultural credit and various non-credit services, etc. in rural areas.
- PACS are village level cooperative credit societies that serve as the last link in a three-tier cooperative credit structure.
- There were 1.02 lakh PACS in the country.
- Maharashtra has 20,897 PACS of which 11,326 are in losses.
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