WB: PACS to become branches of DCCBs

Media reports keep pouring in about fake companies collecting money as deposits from the ordinary people in West Bengal. In a latest move the Mamta government has decided to extend banking services to hundreds of panchayats that are still without banks to check the menace.

PACS are coming handy for the govt in this as it has decided to convert over two thousand PACS into branches of cooperative banks to meet the challenge.

Readers would recall that West Bengal became infamous in the wake of some major ponzi companies such as Saradha and Rose Valley coming to light. Sadly, many have them have TMC members as kingpins.

Official sources say out of the 3,354 gram panchayats in Bengal, as many as 716 are not yet banked. These PACS would be made branches of the district central cooperative banks.

BJP has rubbished the move as a cover up and says it is to conceal evidences of its incompetence and involvement of some top TMC leaders in the ponzi scam. The issue is bound to be raked up in the 2019 parliamentary election.

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