Odisha Chief Minister Naveen Patnaik recently inaugurated computerization of PACS and launched RuPay Kisan Credit cards in the state, reports Press Trust of India.
In his inaugural remarks, the Chief Minister said Odisha is the first state to implement an integrated Core Banking Solution Project covering all three tiers of short term cooperative credit structure – state cooperative bank, district central cooperative banks and 2,708 primary agriculture cooperative societies.
With introduction of high technology, PACS, farmers are able to draw their sanctioned loans from the ATM network of National Payments Corporation of India (NPCI) having 2.14 lakh ATMs of all banks across the country.
Addressing the function Surya Narayan Patro, Odisha minister of cooperation, said because of CBS in cooperative banks and PACS, the proceeds of paddy procurement operations add up to around Rs 8,000 crore credited directly into the farmers’ accounts.