Computerization of Primary Agricultural Credit Societies

In the Union Budget 2023-2024, Union Government has announced Rs 2,516 crore for computerisation of 63,000 Primary Agricultural Credit Societies (PACS) over the next five years.

  • It aims to bring greater transparency and accountability in their operations and enabling them to diversify their business and undertaking more activities.

About PACS

  • PACS is a basic unit and smallest co-operative credit institutions in India.
  • It serves as the last link in a three-tier cooperative credit structure headed by the State Cooperative Banks (SCB) at the state level.
  • PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve ....
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