- Union Home and Cooperation Minister Amit Shah will chair the ‘National PACS Mega Conclave’ on ‘Primary Agricultural Credit Societies (PACS).
- The Mega Conclave is being organized by the Ministry of Cooperation in collaboration with the National Cooperative Development Corporation (NCDC).
- The Primary Agricultural Credit Societies (PACS) were recently allowed to operate as Pradhan Mantri Bhartiya Jan Aushadhi Kendras (PMBJKs), which provide quality generic medicines to the general public, which cost 50-90 per cent less than the branded medicines available in the open market.
- More than 2,000 types of generic medicines and around 300 surgical items are made available through these Kendras to common citizens at affordable prices.
- This initiative will provide new opportunities to PACS for diversification and expansion of their economic activities, thus leading to an increase in the incomes of millions of small and marginal farmers associated with them.
- It will also help in creating new employment opportunities in rural areas.
- Primary Agricultural Credit Societies are the grass root level arms of the short-term co-operative credit structure. PACS deals directly with the rural (agricultural) borrowers, give those loans and collect repayments of loans given and also undertake distribution and marketing functions.
- They occupy a predominant position in the co-operative credit structure and form its base. It serves as the final link between the ultimate borrowers on the one hand and the higher financing agencies, namely the Scheduled Commercial Banks, and the RBI/NABARD on the other hand.
Organizational Structure of PACS
- General Body of PACS: Exercise the control over board as well as management.
- Management Committee: Elected by the general body to perform the work as prescribed by the society’s rules, acts, and by-laws.
- Chairman, Vice-Chairman, and Secretary: Work for the benefit of the members by performing their roles and duties as assigned to them.
- Office Staff: Responsible for performing day to day work.