“The proposals for computerization of 60,685 PACS received from 28 States and Union Territories; including 4,534 PACS of the State of Madhya Pradesh, have been sanctioned”, said Union Cooperation Minister Amit Shah while replying to a query in Rajya Sabha.
“A Centrally sponsored project for Computerization of 63,000 functional PACS/ Large Area Multi-Purpose Cooperative Societies (LAMPS) / Farmers Service Societies (FSS) across the country with a total financial outlay of Rs. 2,516 Crore is under implementation”, Shah’s reply reads.
It further says, “The project will provide various benefits to PACS such as increasing the efficiency of their operations, ensuring speedy disbursal of loans, lowering of transaction costs, reducing imbalances in payments, seamless accounting with DCCBs and StCBs and increasing transparency”.
“It will also enhance trustworthiness in the working of PACS among farmers. Software for this project has been developed by NABARD. Hardware procurement, onboarding of system integrators and digitization of legacy data by States and Union Territories’ Administration are under process”, the reply concludes.