While inaugurating the diamond jubilee of NAFSCOB on Tuesday at Bharat Mandapam, Union Home and Cooperation Minister Amit Shah commended the organization’s efforts not only in collecting and maintaining highly authentic data but also in actively contributing to the strengthening of the three-tier credit structure.
“We cross-verified the data provided by NAFSCOB to the Union Ministry of Cooperation for PACS, DCCBs, and StCBs when I became the Cooperation Minister, and when the work of computerizing PACS began”, said Shah.
We were surprised to note that 99.72 percent of the data was correct. NAFSCOB is the only organization in the country with authentic data, collected based on 100 parameters of PACS, DCCBs, and StCBs, which plays a crucial role in outlining the reach of agricultural finance,” he added.
Shah further stated, “Now, it is time for NAFSCOB to evolve from its traditional role of representing the three-tier credit structure and shift focus towards strengthening PACS”, he said.
Shah also urged NAFSCOB to organize training programs for the employees of PACS and emphasized the need to involve more youth in PACS, ensuring their active participation in the cooperative movement.
He further noted, “There is no doubt that the three-tier structure—PACS, DCCBs, and StCBs—has greatly benefited India, not only in strengthening the rural economy but also in providing a helping hand to farmers and strengthening villages.”, he said.
“We have seen in several districts where there is no district cooperative bank. However, with the formation of 2 lakh new PACS in India, we will also establish new DCCBs where they do not currently exist. Our goal is to open at least half the number of DCCBs as compared to the present,” he added.
Thanking Shah for his encouraging words, NAFSCOB Chairman Ravinder Rao expressed, “We will take the Minister’s words for moving forward and strengthening the PACS in India. We will work to change NAFSCOB’s role in line with the changing times. We are grateful to Union Home and Cooperation Minister Amit Shah for showing us the path forward”, he noted.
