NABARD accords sanction for Transformation of PACS as MSCs

Chandigarh: Sh Sukhjinder Singh Randhawa, Minister of Cooperation, Government of Punjab held a meeting of Department of Cooperation to discuss issues related to Cooperatives in the State. The meeting was attended by Smt. Kalpana Mittal Baruah, IAS, Special Chief Secretary, Cooperation, Shri Vikas Garg, IAS, RCS, Smt. Hargunjit Kaur, IAS, Managing Director, PSTCB. NABARD team was led by Dr. Rajiv Siwach, Chief General Manager, Punjab Regional Office.

The detailed deliberations were held on PACS as a Multi-Service Centre scheme of NABARD, convergence with activities under Agriculture Infrastructure Fund launched by the Hon’ble Prime Minister, computerization of PACS, the merger of DCCBs into PSTCB, issue of KCC to farmers engaged in animal husbandry and fisheries activities, etc. CGM NABARD informed that the special refinance facility for the transformation of the Primary Agriculture Society (PACS) as Multi-Service Centre (MSC) is available with SCBs with refinancing @ 3% RoI for meeting the credit plus requirements of the members which will enable them to diversify their business. The grant support for computerization of PACS was also apprised.

The Hon’ble Minister handed over the in-principal sanction for the ‘Transformation of Primary Agriculture Cooperative Societies (PACS) as Multi-Service Centre (MSC)’ for creating Agri-infrastructure at farm gate involving 60 identified PACS sanction letter to MD, PSTCB during the meeting.