The Bhalpahari Taratand Primary Agricultural Cooperative Credit Society (PACS) in Gandey Block of Giridih District, Jharkhand, has emerged as an important grassroots financial institution, especially in a region grappling with Naxal influence, weak health and education indicators, migration and inadequate infrastructure.
With over 900 members, the PACS has long served communities that lack access to affordable and reliable credit.
Under NABARD’s Cooperative Development Fund (CDF), the PACS received Rs 2.36 lakh in 2022–23 for infrastructure strengthening. With this support, the society upgraded its facilities by installing a cash counter, furniture, power backup systems, CCTV surveillance and a currency counting machine. These interventions have helped streamline daily operations and improve customer experience.
The PACS now provides accessible loans at competitive interest rates, including business loans at 9 percent, and has introduced doorstep banking services to reach remote households. This has significantly reduced the cost of doing business for villagers who earlier depended on exploitative credit channels.
The impact of these initiatives is evident in the financial growth of the society. Deposits increased from Rs 7.35 crore to Rs 7.75 crore year-on-year, while advances rose from Rs 3.5 crore to Rs 3.81 crore.
By offering savings, recurring and fixed deposits, along with multiple loan products, the PACS has restored community trust and strengthened financial inclusion in one of Jharkhand’s most underserved areas.