{"id":3162,"date":"2023-02-17T10:06:54","date_gmt":"2023-02-17T04:36:54","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=3162"},"modified":"2025-03-26T10:42:10","modified_gmt":"2025-03-26T05:12:10","slug":"what-are-primary-agricultural-credit-societies-pacs","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/what-are-primary-agricultural-credit-societies-pacs\/","title":{"rendered":"What are Primary Agricultural Credit Societies (PACS)"},"content":{"rendered":"<h2>About the Primary Agricultural Credit Societies (PACS):<\/h2>\n<ul>\n<li>PACS are <strong>village-level cooperative credit societies<\/strong> that serve as the <strong>last link in a three-tier cooperative credit structure<\/strong> <strong>headed by the State Cooperative Banks (SCB)<\/strong> at the state level.<\/li>\n<li><strong>Credit from the SCBs is transferred<\/strong> to the <strong>district central cooperative banks<\/strong> (DCCBs) that operate at the district level. The <strong>DCCBs work with PACS, which deals directly with farmers.<\/strong><\/li>\n<li><strong>Individual farmers are members of the PACS<\/strong>, and office-bearers are elected from within them.\u00a0<\/li>\n<li>There are <strong>1.02 lakh PACS in India<\/strong> (As per the RBI report of December 2022).<\/li>\n<li><strong>Functions:<\/strong>\n<ul>\n<li>To <strong>provide short and medium-term purpose loans to farmers<\/strong> for various agricultural purposes.<\/li>\n<li><strong>Borrowing adequate funds from central financial agencies<\/strong> to help its members on time.<\/li>\n<li><strong>Maintaining the supply of the hired light machinery<\/strong> for agricultural purposes.<\/li>\n<li>To <strong>promote savings habits<\/strong> among its members.<\/li>\n<li>To <strong>arrange for supplying agricultural inputs.<\/strong><\/li>\n<li><strong>Provide marketing facilities<\/strong> to members\u00a0 that could enhance the sale of their agricultural products in the market at reasonable prices.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Organizational Structure:<\/strong>\n<ul>\n<li><strong>General Body:<\/strong> Exercise <strong>control overboard and management<\/strong>.<\/li>\n<li><strong>Management Committee:<\/strong> The <strong>general body elects them<\/strong> to perform the work prescribed by society\u2019s rules, acts, and by-laws.<\/li>\n<li><strong>Chairman, Vice-Chairman, and Secretary<\/strong>: Appointed from amongst its members. They work for the benefit of the members by performing their roles and duties as assigned to them.<\/li>\n<li><strong>Office Staff: Performs day-to-day work<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1)\u00a0 Who regulates\u00a0 Co-operative Societies in India?<\/h3>\n<p>The incorporation, regulation and winding up of co-operative societies (other than those operating in more than one State) is a State subject and is governed by the State laws on co-operative societies . In the case of co-operatives with objects not confined to one State, their incorporation, regulation and winding up fall in the central domain and are governed by the Multi-State Co-operative Societies Act, 2002. As the vast majority of co-operative societies are operating only in one State, the State Government and the Registrar of Co-operative Societies appointed by the State are the main regulatory authorities for the cooperative societies<\/p>\n<p><strong>Source:<\/strong>\u00a0<a href=\"https:\/\/www.aninews.in\/news\/national\/general-news\/union-cabinet-approves-establishment-of-new-primary-agricultural-credit-society-in-2-lakh-panchayats20230215160022\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>Union Cabinet approves establishment of new Primary Agricultural Credit Society in 2 lakh panchayats<\/u><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PACS are village-level cooperative credit societies serving as the last link in a three-tier cooperative credit structure.<\/p>\n","protected":false},"author":5,"featured_media":3163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3162","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=3162"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/3163"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=3162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=3162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=3162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}