Union Home and Cooperation Minister Amit Shah said that, as per the information provided by NABARD, 1,409 newly formed Multi-Purpose Primary Agricultural Credit Societies (M-PACS) have commenced crop loan business, with a total of Rs 3,367.28 crore sanctioned so far.
In order to improve the profitability of these newly formed PACS, State/UT Governments have been requested to facilitate the initiation of additional business activities beyond credit, such as Common Service Centres, Pradhan Mantri Kisan Samriddhi Kendras, Pradhan Mantri Bhartiya Jan Aushadhi Kendras, and more.
To further diversify the economic activities of PACS and convert them into multi-purpose economic entities, the Government of India has prepared Model Byelaws. These enable PACS to undertake more than 25 business activities, including, Dairy, Fishery, Setting up of godowns, Procurement of foodgrains, fertilizers, seeds, LPG/CNG/Petrol/Diesel distributorship, Short-term & long-term credit, Custom hiring centers, Fair Price Shops (FPS), Community irrigation and Common Service Centres
So far, 32 States/UTs have adopted the Model Byelaws, or their existing byelaws are already aligned with them.
