The Multipurpose Primary Agricultural Cooperative Societies (MPACS) initiative is delivering significant gains in Uttar Pradesh, strengthening the cooperative banking network and expanding financial access in rural areas, media reports say.
According to an official statement, over two lakh new accounts have been opened in district cooperative banks, mobilising deposits of nearly Rs 550 crore. An additional Rs 110 crore has been raised as share capital through member participation, taking the total fund flow in the cooperative system to Rs 660 crore and improving credit access for small farmers.
Nearly 54 lakh farmers have joined the cooperative framework under the membership campaign. The state government has digitised enrollment, introduced QR code and UPI-based payments, and enabled low-interest crop loans, quality inputs and transparent fertiliser distribution across villages.