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Polity & Governance
Mahesh

09/10/22 08:28 AM IST

Multipurpose PACS in every Panchayat

In News 
  • The Ministry of Cooperation and the National Dairy Development Board (NDDB) have planned a Multipurpose PACS in every Panchayat which will do the work of distribution of Dairy, FPO, Agriculture and Gas Production.
About PACS
  • It is a village-level institution that works directly with rural residents. It encourages agriculturists to save, accepts deposits from them, makes loans to deserving borrowers, and collects repayments.
  • PACS are the lowest unit in a three-tier structure: The other two tiers — State Cooperative Banks (StCB) and District Central Cooperative Banks (DCCB) — have already been automated by the NABARD and brought on the Common Banking Software (CBS).
  • There are only 65,000 active PACS in the country at present.
  • PACS will carry out activities like the sale of gas and petrol and the storage and marketing of dairy and farm products with an aim to alleviate poverty and empower women.
Source- PIB 

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