Bye-laws for PACS under preparation to make them vibrant multipurpose business entities: Amit Shah
The Government is also formulating a new national-level policy for cooperatives. A two-day National Conference on new Cooperation Policy was held on 12-13 April 2022 with Cooperation Secretaries/RCSs from all the States/UTs, Also, a centrally sponsored project for computerization of 63,000 PACS has been launched.
In order to make the Primary Agricultural Credit Societies (PACS) vibrant multipurpose business entities, draft model bye-laws are being prepared in consultation with the State Governments, National Cooperative Federations and all other stakeholders. These draft model bye-laws contain various provisions for bringing professionalism, transparency and accountability to their operation. PACS are registered and administered under the respective State Cooperative Laws.
According to a Ministry of Cooperation press release, this was stated by Minister of Cooperation Amit Shah in a written reply to a question in the Rajya Sabha on July 20.
The Government is also formulating a new national-level policy for cooperatives. A two-day National Conference on new Cooperation Policy was held on 12-13 April 2022 with Cooperation Secretaries/RCSs from all the States/UTs, wherein discussions were inter alia held on legal framework; identification of regulatory, policy and operational barriers; ease of doing business; reforms for strengthening governance; promoting new and social cooperatives; revitalizing defunct ones; making cooperatives vibrant economic entities; cooperation among cooperatives and increasing membership of cooperatives.
Also, a centrally sponsored project for the computerization of 63,000 PACS has been launched to further help them in their digitalization and end-to-end automation of their businesses. It will bring transparency and enhance trustworthiness in the working of PACS. It will also help them become nodal service delivery points for Interest Subvention Scheme (ISS), PMFBY, Direct Benefit Transfer (DBT) for various services and provision of inputs like fertilizers, seeds etc.
This pan-India IT project and legal reforms through the adoption of model bye-laws by PACS will create enabling environment for PACS to become vibrant multipurpose business entities, said the release.