NABARD Chairman Shaji K. V. has proposed transforming Primary Agricultural Credit Societies (PACS) into Primary Multipurpose Community Cooperatives, saying the trusted village institutions can evolve into one-stop centres catering to the diverse needs of rural communities.
Speaking at the release of the book, Cooperative Management – The Indian Perspective, authored by K. K. Tripathy and others at the Atal Urja Bhawan, the headquarters of the Ministry of Cooperation in New Delhi, Shaji praised the rapid computerisation of PACS and their transformation into e-PACS.
NABARD Chairman said the time has come to leverage the goodwill and trust enjoyed by these institutions to provide a wider range of community services.
“A cooperative entity runs on the basis of trust, and our PACS enjoy immense credibility in the villages where they operate. We should explore whether they can be transformed into Primary Multipurpose Community Cooperatives so that villagers can access all essential services at one place,” he said.
According to Shaji, such institutions would be particularly beneficial for semi-literate and illiterate villagers who often find it difficult to navigate digital platforms and government systems. A community-based cooperative, he said, can provide handholding support and help people meet their day-to-day financial, agricultural and social service requirements efficiently.
Recalling his childhood, Shaji said he had witnessed first-hand the transformative role of cooperatives in rural life. His father was associated with a spinning cooperative, and he grew up observing how village cooperatives improved livelihoods and strengthened communities. “At that time, I never imagined that one day I would be working so closely with the cooperative sector,” he remarked.
The NABARD Chairman also advocated diversifying the activities of PACS beyond their traditional role. He said expanding their functions is essential to bridge the rural-urban income gap and make them engines of local economic development.
Emphasizing the vision of Viksit Bharat, Shaji said the goal of a developed India can be realized only by bringing the rural population into the mainstream of economic growth. Strengthening PACS and broadening their scope into multipurpose community institutions, he added, would play a pivotal role in achieving inclusive and sustainable rural development.
