Q: What is Primary Agricultural Co-operative Society(PACS).
A:The PACS/LAMPS/FSCS are the bottom-tier of the Short Term Cooperative Credit Structure functioning at the grassroots (Gram Panchayat) level. These are Primary Societies owned by farmers, rural artisans etc. and intended to promote thrift and mutual help among the members; cater to their credit requirements and provide credit-linked services like input supply, storage and marketing of agricultural produce etc. These Cooperative Credit Institutions with their wide out-reach in the rural areas and accessibility to the small and marginal farmers and the other marginalized populations have been playing a vital role in dispensation of agricultural credit.
Q: Discuss its Objectives.
A:To cater to the credit need, mostly, farm credit and income generation activities of farmers, artisans and other members.
To extend selected banking services to members.
To implement Kissan Credit Card Scheme for providing timely and adequate farm credit to members.
To take up marketing of agricultural produce of member farmers.
To cater to the consumer needs, mostly, essential commodities of members.
To create awareness among farmers to adopt improved farming practices.
To reach upto the unprivileged section of the community through SHGs, JLGs and TFGs.
Q : How many PACS are functional today.
A:93488 as at 2012-13. data thereafter is yet to be complied.
Q:What total membership .
A:127468 As at 2012-13 .
Q:What is NAFSCOB.
A: It stands for The National federation of State Cooperative Banks Ltd. (NAFSCOB),Mumbai was established on May 19, 1964 with a view to facilitate the operations of State and Central Cooperative banks in general andDevelopment of Cooperative Credit in particular.
Q: Discuss its objectives.
A:The specific objectives of NAFSCOB are to:
Provide a common forum to the member banks to examine the problems of cooperative credit, banking and allied matters and evolve suitable strategies to deal with them.
-Promote and protect the interests of the member banks in all spheres of their activities and to give expression to the view of the member banks.
-Co-ordinate and liaison with Government of India, Reserve Bank of India, respective State Governments, NABARD and other higher financing institutions for the development of cooperative credit on behalf of the member banks.
-Provide research and consultancy inputs to the member banks in order to facilitate them to strengthen their own organisations.
- Organiseconferences/seminars/workshops/programmes/meetings to share the views of common interest with view to contribute for better policy decisions.
-The NAFSCOB functions with three of its wings, viz. (1) Planning,
Research and Development (PRD); (2) All India Mutual Arrangement Scheme(AIMAS) and (3) Computer Services Division (CSD).
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