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Primary Agricultural Credit Societies
July 5 , 2022
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- The Union Cabinet has approved computerisation of primary agricultural credit societies (PACS).
- It has proposed computerization of about 63,000 functional PACS over a period of five years.
- It will become delivery point for various services and provision of inputs like fertilizers, seeds etc.
- The project will help in making PACS as outlets for banking activities and also non-banking activities.
- PACS is the smallest unit in cooperative sector which works with farmers and aim at development of rural economy.
- It is the lowest tier of the three-tier short-term cooperative credit (STCC).
- The other two tiers i.e State Cooperative Banks (SCBs) and District Central Cooperative Banks (DCCBs) already work on Common Banking Software (CBS).
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