CBN Rajasthan Unit seizes nearly four tonnes of contrabands (See 'Corp Brief') Ministry of Tourism exchanges MoUs with industry partners to strengthen tourism promotion (See 'Corp Brief') India moving from Defence Importer to Trusted Global Defence Supplier: RM (See 'Corp Brief') A & C - High Court erred in holding that petitions filed u/s 34 of the Act were barred by limitation, considering that applications were filed well within statutory limitation period: SC (See 'Legal Desk') NZP to celebrate Wildlife Week 2026 from 2nd - 8th October 2026 (See 'Corp Brief') HM launches various initiatives related to women empowerment in Kollam (See 'Corp Brief') Medical colleges rise from 387 to over 800: Patel (See 'Corp Brief') TradeMarks - When special law like Trade Marks Act restricts institution of suits to courts not inferior to District Judge, it remains entirely consistent with Commercial Courts Act, provided High Courts designate District Judges as commercial courts - case referred to Larger Bench: SC (See 'Legal Desk') ICAT marks 20 Years of Excellence with PM e-Drive Dialogue with the industry (See 'Corp Brief') From Rural Needs to Real-World Solutions: RuTAG 2.0 focuses on deepening Technology Impact (See 'Corp Brief') India International Water Week 2026 concludes with Focus on Climate-Resilient Management (See 'Corp Brief') A&C - Period of limitation u/s 34(3) of Arbitration Act must be reckoned from date of disposal of Sec 33 application, regardless of whether such application is ultimately found to be frivolous or sham: HC (See 'Legal Desk') Board reviews measures for Trader Welfare and Export Promotion (See 'Corp Brief') IPR - Civil remedy u/s 55 of Copyright Act can be pursued through arbitration as agreed alternative dispute resolution mechanism: HC (See 'Legal Desk') DRI seizes 9.40 kg gold worth Rs. 15 crore at Mumbai airport (See 'Corp Brief') NLMC concludes 3-City Investor Outreach Programme for RINL Land E-Auction (See 'Corp Brief') A&C - If a company is employed as conduit for shielding assets from creditors, Court may look beyond corporate structure, for piercing veil: HC (See 'Legal Desk') MEE-TR 2026 to introduce 'Solid Waste Management' as separate Evaluation Criterion of Tiger Reserves (See 'Corp Brief') IPR - If party adopts mark that is deceptively similar to registered mark for identical goods, with full knowledge of prior statutory and common law rights, such adoption constitutes infringement: HC (See 'Legal Desk') Nadda inaugurates Arogya Manthan 2026, marking 8 years of AB PM-JAY (See 'Corp Brief') IPR - Requiring plaintiff to sue at place of its subordinate office because cause of action has arisen there would amount to re-writing Sec 134 of Trade Marks Act: HC (See 'Legal Desk') Union Minister inaugurates Seva First Innovation Challenge at IISc Bengaluru (See 'Corp Brief') Companies Act - Admission of winding-up petition, appointment of provisional liquidator or liquidator, or possession of assets by liquidator does not, by itself, establish irreversibility thereof: HC (See 'Legal Desk') Bharat CPSEs' Consultative Conclave inaugurated at Gati Shakti Vishwavidyalaya (See 'Corp Brief') Competition - Formulation of technical specifications & procurement requirements falls primarily within domain of procuring entities, which are at liberty to set terms suited to their needs - no case of contravention of Sections 3 or 4 is made out: CCI (See 'Legal Desk') SAIL's 54th AGM highlights strong value added steel growth (See 'Corp Brief') An unsuccessful 'success fee' litigation (See CORP EINSICHT)

Print

Cabinet nod for computerization of Primary Agriculture Credit Societies

Published: Jun 29, 2022

By TIOLCorplaws News Service

NEW DELHI, JUNE 29, 2022: THE Cabinet Committee on Economic Affairs has approved Computerization of Primary Agricultural Credit Societies (PACS) with the objective of increasing efficiency of PACS, bringing transparency and accountability in their operations; facilitating PACS to diversify their business and undertake multiple activities/ services. This project proposes computerization of about 63,000 functional PACS over a period of 5 years with a total budget outlay of Rs. 2516 crore with Government of India share of Rs. 1528 crore.

The Primary Agricultural Cooperative credit societies (PACS) constitute the lowest tier of the three-tier Short-term cooperative credit (STCC) in the country comprising of approx.13 Cr. farmers as its members, which is crucial for the development of the rural economy. PACS account for 41 % (3.01 Cr. farmers) of the KCC loans given by all entities in the Country and 95 % of these KCC loans (2.95 Cr. farmers) through PACS are to the Small and Marginal farmers. The other two tiers viz. State Cooperative Banks (StCBs) and District Central Cooperative Banks (DCCBs) have already been automated by the NABARD and brought on Common Banking Software (CBS).

However, majority of PACS have so far been not computerized and still functioning manually resulting in inefficiency and trust deficit. In some of the states, stand-alone and partial computerization of PACS has been done. There is no uniformity in the software being used by them and they are not interconnected with the DCCBs and StCBs. Under the able guidance of Shri Amit Shah, Hon'ble Minister of Home and Cooperation, it has been proposed to computerize all the PACS throughout the Country and bring them on a common platform at National level and have a Common Accounting System (CAS) for their day to day business.

Computerization of PACS, besides serving the purpose of financial inclusion and strengthening service delivery to farmers especially Small & Marginal Farmers (SMFs) will also will become nodal service delivery point for various services and provision of inputs like fertilizers, seeds etc. The project will help in improving the outreach of the PACS as outlets for banking activities as well as non-Banking activities apart from improving digitalisation in rural areas. The DCCBs can then enrol themselves as one of the important options for taking up various government schemes (where credit and subsidy is involved) which can be implemented through PACS. It will ensure speedy disposal of loans, lower transition cost, faster audit and reduction in imbalances in payments and accounting with State. Cooperative Banks and District Central Cooperative Banks.

The project comprises of development of cloud based common software with cyber security and data storage, providing hardware support to the PACS, digitization of existing records including maintenance support and training. This software will be in vernacular language having flexibility of customisation as per the needs of the States. Project Management Units (PMUs) will be set up at Central and State levels. District Level Support will also be provided at cluster of about 200 PACS. In the case of states where computerization of PACS has been completed, Rs. 50,000/- per PACS will be reimbursed provided they agree to integrate with/adopt the common software, their hardware meets the required specifications, and the software was commissioned after 1st February, 2017.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.